A Philadelphia-based company is moving its corporate headquarters to Connecticut, but city officials are not worried.
A $50 million incentive convinced CIGNA to relocate its headquarters to Bloomfield, Conn. Alan Greenberger, Philadelphia deputy mayor for planning and economic development, said that, for now, Philadelphia will not lose jobs.
“They are going to keep all 1,100 plus jobs that are here now here in Philadelphia and they’re committed to that,” Greenberger said. “They’ve got a lease still that runs for several years and they’ve committed to that long term and they are committed to us long term beyond the terms of their lease to maintain a significant presence here.”
CIGNA Chief Executive David Cordani said in a conference call the move to Connecticut was part of a plan for growth.
“This is about CIGNA growing our presence in Connecticut and growing our presence in Connecticut as we grow our business,” said Cordani. “Bt we will also maintain a key presence in markets around the world, including Philadelphia.”
The company’s Center City lease expires in 2016.