Aetna to Move Headquarters out of Connecticut

By Joseph De Avila Features Dow Jones Newswires

Aetna Inc. plans to move its corporate headquarters out of Connecticut, according to the Hartford Mayor Luke Bronin, dealing a blow to a state that is struggling with a widening budget deficit, stagnant population growth and rising unemployment.

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The mayor said in a news release Wednesday that he has had multiple conversations with Aetna's senior leadership and they indicated the company decided some time ago its intention to move out of Connecticut.

"Across the country, companies are locating in places where they can recruit top talent," Mr. Bronin said in a statement. "We don't have to be New York or Boston to be competitive, but we have to recognize that strong, fiscally sound, culturally vibrant metropolitan areas are key to economic growth. "

Aetna didn't immediately respond to requests for comment.

Mr. Bronin said Aetna will continue to keep thousands of employees at its current campus in Hartford. The company has about 6,000 employees in Connecticut.

Last year, General Electric Co. moved its headquarters to Boston after decades in Fairfield, Conn.

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"Losing Aetna's flag is a hard blow for the state and for the greater Hartford region," Mr. Bronin said.

Write to Joseph De Avila at joseph.deavila@wsj.com

(END) Dow Jones Newswires

May 31, 2017 14:05 ET (18:05 GMT)