Published: Fri, January 12, 2018
Business | By Tara Barton

CVS Says There Are No Plans to Move Aetna from Hartford

CVS Says There Are No Plans to Move Aetna from Hartford

CVS Health will continue to be headquartered in Rhode Island, said spokesman David Palombi.

Health insurer Aetna still won't say if its headquarters move to New York City is off.

Carolyn Castel, who is the vice president for corporate communications for CVS Health, said CVS officials met with the mayor of Hartford on Thursday and they made a decision to not move Aetna's operations from Connecticut's capital city.

NY officials seem to think Aetna's changed its mind, saying the incentive package was withdrawn because the relocation is not moving forward.

Aetna is the nation's third-largest health insurer.

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The insurance giant announced in June that it would move its headquarters to New York City beginning in late 2018 after almost two centuries in Hartford.

Friday's statement comes days after New York City halted a $9.6 million incentive package.

But after the deal was struck, CVS said in regulatory filings that all locations were under review, putting in doubt Aetna's proposed $85 million Manhattan headquarters. Its planned move followed by just 18 months the announcement of General Electric Co. that it will relocate to Boston. He also rapped CT over its lengthy state budget impasse and fiscal uncertainty.

"We had a preliminary agreement that still needed formal approval, and we can't get that approval if they can't positively affirm to us that the relocation is happening", said Stephanie Baez, a spokeswoman for the New York City Economic Development Corp.

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