Hartford, Conn.-based Aetna has engaged in discussions with the Massachusetts' governor's office for the past six months about transferring its headquarters to Boston, sources close to the discussions told the Hartford Courant.
Here are four things to know.
1. The insurer has been looking for as much as 400,000 square feet of space, though it is unclear how much of the company would remain in Hartford if the company is serious about transitioning, according to the report.
2. The company employs roughly 6,000 individuals in Connecticut, with the largest portion of its employees housed in Hartford. Should Aetna move to the 400,000-square-foot location in Boston, about 1,600 employees could occupy the area.
3. Aetna's discussions with Gov. Charlie Baker's (Mass.-R) office follows General Electric's decision last year to shift its headquarters from Fairfield, Conn., to Boston. GE and Aetna had previously criticized Connecticut's tax environment, after which Boston and other cities reached out to the payer to discuss a possible change of its headquarters.
4. Spokespeople from the city of Boston, the governor's office and Aetna did not issue specific comments on the speculated move to the Hartford Courant as of Monday. Aetna spokesperson T.J. Crawford said, "We remain headquartered in Hartford, and we're committed to our employees here, who continue to be an important part of our future," according to the report.