The relocation is expected to create an additional 150 to 200 construction-related jobs during the next 12 to 18 months.
“This is a triumph for Connecticut, for UnitedHealth Group and for our state’s capital city, and welcome news to employees and their families at a time of terrible economic uncertainty,” said Gov. Jodi Rell. “I am doing everything in my power to keep and create jobs in our state. With the national economy making so many companies reluctant to take on risk, that includes helping businesses make capital investments and expand their operations here. I am pleased that UnitedHealth Group has decided to stay in Hartford.”
Fortune 50-company UnitedHealth Group, with $81 billion in revenue in 2008, has more than 4,000 employees and staff at various locations in Connecticut. The company has had a large presence in downtown Hartford for more than 20 years and its current lease is set to expire in 2010.
After a thorough market analysis, UnitedHealth Group decided to relocate, and it will occupy a significant block of space at CityPlace.
“Our decision to remain in Hartford reinforces the company’s ongoing commitment to the region as both an employer and community partner,” said Mike Matteo, CEO of the company’s national accounts business, which is based in Hartford. “Hartford has long been home to leading health-care and financial-services companies. We are proud to be an active contributor to our capital city’s development and look forward to relocating to CityPlace and keeping our professional work force in downtown.”
The state’s Department of Economic and Community Development will provide an incentive package of $1.5 million toward UnitedHealth Group’s infrastructure improvements and energy-efficiency projects in its new location. The agreement requires UnitedHealth Group to maintain 2,000 employees in Hartford for at least three years.
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