The Hartford Financial Services Group, Inc., plans to construct a $146 million, 450,000 square foot campus for its Hartford Life subsidiary in Windsor. Hartford Life, which has its headquarters in Simsbury, Conn., will consolidate its existing Windsor and Avon offices and employ 2,000 full-time employees at the new site. In addition, Hartford Life plans to create 300 new jobs over the next five years.
Construction of the campus, which will be built as an environmentally friendly facility, will be undertaken in two phases. Phase 1 is scheduled for completion by mid-2008, and Phase 2 is to be completed in 2010.
Prior to breaking ground The Hartford will work to secure requisite permits and incentives from both the Town of Windsor and the State of Connecticut before the deal can be finalized.
“Hartford Life’s growth over the last decade requires us to find new places to expand our operations and house our employees,” said Ramani Ayer, chairman and chief executive officer of The Hartford Financial Services Group. “We look forward to working with the State of Connecticut and Town of Windsor to get ready to break ground on this exciting new project.”
Proposed state financial assistance for the project includes up to $18 million in Urban and Industrial Sites Reinvestment Tax Credits and a $7 million loan (subject to State Bond Commission approval) from the Department of Economic and Community Development (DECD).
Hartford Life has grown significantly in the last 20 years. As of April 2006, Hartford Life’s employed nearly 3,800 people in Connecticut alone, many of them at its 611,000-square-foot Simsbury facility.
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