Connecticut Governor M. Jodi Rell presented some good news today by announcing that 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, 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 to be completed by mid-2008 and Phase 2 is to be completed in 2010.
“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.
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, which has called Simsbury home since 1986, sells annuities and other retirement savings products, mutual funds, individual life insurance, and group life and disability insurance.
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.
In total, The Hartford currently employs more than 30,000 people worldwide, with approximately 13,000 of those employees working in Connecticut – an increase of about 50 percent since 1990, when the company employed approximately 8,000 people here.
Source: Conn. Governor’s Office
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