BLOOMFIELD, Conn. (AP) — Cigna announced Tuesday it will add at least 200 jobs in the next two years at its Bloomfield site in exchange for a $50 million package of tax credits and will change its headquarters from Philadelphia to the Connecticut location.
Cigna is the first company to be awarded state economic assistance under legislation initiated by Gov. Dannel P. Mallloy and enacted this year by the General Assembly. Cigna's decision is particularly important to Connecticut, which has seen much of its once-dominant insurance industry leave or be bought by out-of-state companies.
The so-called "First Five" initiative intended to consolidate various tax credits to draw the first five businesses that invest $25 million in Connecticut and create 200 jobs over five years.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical BenefitsPRO information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
- Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events
- Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
