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Cigna Shifting Its Corporate HQ From Philadelphia To Connecticut

PHILADELPHIA (CBS) – Philadelphia officials say the decision by the Cigna Corporation to shift its corporate headquarters from Philadelphia to Connecticut is only a symbolic loss, and will not cost the city any jobs.

The health insurance giant announced today that it has decided to shift its headquarters from center city Philadelphia to Bloomfield, Conn., near Hartford.

Philadelphia commerce director Alan Greenberger admits this city is suffering a hit to its prestige with the loss.  But he says the real impact will be negligible, as virtually all of the firm’s 1,100 jobs in the city will remain.

“It has some meaning symbolically, but I think the bigger issue is the presence of the jobs that are staying,” Greenberger said.

That assurance was echoed by David Cordani, the CEO of Cigna:

“We will continue to have a deep, long-standing presence in Philadelphia.”

Greenberger says Mayor Nutter received assurances of that job retention in a phone call from Cordani on Monday.

Cigna says it will create at least 200 new jobs in its Bloomfield headquarters.

Reported by KYW Newsradio City Hall bureau chief Mike Dunn

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  • Pool

    This is a big whammy for the state. Connecticut offers companies tax credits or bonuses to relocate, especially to a place like Hartford. Why didn’t PA match the offer?

  • Hater

    “only a symbolic loss, and will not cost the city any jobs”. Yeah right, famous last words.

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