New York City Cancels Financial Incentives For Aetna Headquarters Move

Jan 11, 2018

Health insurer Aetna still won’t say if its headquarters move to New York City is off. The city Thursday announced it was canceling its offer of financial incentives. 

New York City economic development officials said they were rescinding a previous offer of some $9.6 million in tax breaks. That had been part of a $35 million package offered jointly by the city and the state of New York.

Aetna has inked a lease to occupy a new building in lower Manhattan, committing to move 250 headquarters workers to the site from Hartford.

But that plan was cast into doubt as the insurer reached a merger agreement with Rhode Island-based pharmacy chain CVS.

New York officials seem to think Aetna’s changed its mind, saying the incentive package was withdrawn because the relocation is not moving forward.

But so far, Aetna has refused to confirm whether it’s still committed to the New York move, and the city’s announcement didn’t change that stance. Aetna told WNPR in an email, “all Aetna locations will be evaluated as part of the integration planning process.”