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Mayor de Blasio Announces Aetna to Locate Corporate Headquarters, 250 Good-Paying Jobs in New York City

June 29, 2017

Aetna and City partner to support public health, create access to quality jobs, and make NYC the global capital for healthcare innovation

NEW YORK—Mayor Bill de Blasio today announced that, by the end of 2018, Aetna’s corporate headquarters will be located in New York City. The health company’s move to a new headquarters at 61 9th Avenue in Manhattan will result in 250 good-paying jobs and an estimated $146 million in economic benefit to the City.

This investment builds on three years of efforts led by Mayor de Blasio to create a 21st century healthcare system for all New Yorkers.

“New York City is where talent and technology come together,” said Mayor Bill de Blasio. “We’ve never been stronger, and that’s why companies like Aetna and their employees want to be here. We’re proud to support Aetna’s investment in the city.”

“New York City is a knowledge economy hub, and a driver of the innovations that will play a significant part in our ongoing transformation,” said Aetna Chairman and CEO Mark T. Bertolini.  “Many of the roles in our new office will be filled by innovators from the area’s deep talent pool, which will be an invaluable resource as we consider additional investments in the city.  I look forward to working closely with Mayor de Blasio as we build on our role as a responsible corporate citizen.”

As a large employer, Aetna will make the kinds of investments in healthcare innovations and medical technology that help commercialize new discoveries and support the city’s healthcare startups.

The healthcare and life sciences sectors are a core component of Mayor de Blasio’s New York Works plan, a series of 25 initiatives that will spur 100,000 jobs with good wages over the coming decade, to combat economic inequality and grow the middle class.

Aetna already has an established presence in New York City, including operations in Harlem. As part of the City’s commitment to support the new headquarters, Aetna and the City will work together to develop partnerships that support public health, healthy living, advance digital health innovation and increase access to quality jobs for New Yorkers.

“Attracting a major player in the health care industry like Aetna is a big win for New York City, helping to drive even more innovation and job creation throughout the sector,” said New York City Economic Development Corporation President and CEO James Patchett. “We’re excited to partner with Aetna to improve public health, and to help New Yorkers from all backgrounds access quality jobs as part of our New York Works plan.”

“Manhattan is a global capital for both business and healthcare, and a fitting home for Aetna,” said Manhattan Borough President Gale A. Brewer. “I’m excited to see this relocation will create new jobs, in addition to moving existing ones, and am looking forward to the new partnerships that will be made possible by Aetna’s move to Manhattan.”

“Aetna will bring hundreds of good paying jobs to New York City and I couldn't be happier that they're locating in my district,” said Council Member Corey Johnson. “Aetna's presence will also help support our local small businesses and provide local hiring opportunities. I applaud Mayor de Blasio for his role in making this accomplishment a reality.”

New York Works contains a number of initiatives that will grow good jobs in the health care and life sciences industry, including:

  • Accelerate the growth of digital health by connecting innovative companies to healthcare providers. The Digital Health Marketplace helps facilitate relationships between health tech buyers (health systems, hospitals, and doctors) and health tech sellers (entrepreneurs, companies) through two curated half-day matching sessions in the spring and fall of each year. Since its launch, the Digital Health Marketplace has facilitated 700 matches between buyers and sellers. The program has also disbursed $2.5 million in commercialization grants to 20 companies who’ve gone on to receive $160 million in total venture funding. Building on this success, the City will invest $750,000 to support three years of expanded operations for the Marketplace. With these resources, the Marketplace can double the number of matchmaking events to four per year, which will increase companies’ access to customers and create approximately 1,100 good-paying jobs over ten years.
  • Create a physical lab for early testing of health technologies in real world clinical settings. Digital health and health tech companies benefit greatly from early testing opportunities in real world clinical settings. The opportunity to test technologies with potential end users, such as doctors and patients, is the ideal way for entrepreneurs to get the feedback they need to validate their products. The City will invest up to $5 million to create a physical Digital Health Lab, which will offer digital health and health tech companies a mix of co-working space, meeting/event space, clinical space, and prototyping facilities. This investment will create over 600 good-paying jobs over ten years.
  • Expand community health centers to improve healthcare delivery and create local jobs. To provide affordable community health centers that deliver comprehensive care to all patients, the City is investing $8.45 million to support the creation of over eight new private, nonprofit health centers across all five boroughs. The centers will serve 75,000 patients per year and create 600 good-paying jobs over the next four years. In addition to creating jobs, these health centers will enable healthier communities and help reduce healthcare costs. By offering preventive health services, the centers forestall minor ailments from becoming major health crises—reducing not only costs, but freeing up emergency rooms for real emergencies.
  • Implementing a $500 million, ten-year plan to build the life sciences ecosystem. LifeSci NYC will create thousands of good-paying jobs and make New York City a global leader in life sciences R&D and venture creation. The City is investing in three main areas: 1) Connect research to industry advancing healthcare and technology; 2) Unlock space for companies to grow and employ New Yorkers; and 3) Build a pipeline for diverse life sciences talent and innovative companies.  This will include an Internship program launching in 2017.

Aetna will receive a $9.6 million financial assistance package from the New York City Economic Development Corporation that includes:

  • $4.25 million in sales tax benefits to offset sales tax liabilities resulting from Aetna’s capital investment.
  • New York City Industrial Development Agency property tax benefits valued at $3.8 million over 10 years, to reduce the property tax liability resulting from capital expenditures.
  • Enhanced sales tax benefits and Business Incentive Rate discount valued at $1.5 million over 10 years.

Aetna is also receiving support from Empire State Development.

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