- 1
- 2
- next
- | single page
CIGNA's deal with the state gives it a sliding scale of benefits based on how many jobs the company adds, and how much it spends on computers or buildings. Because the incentives are based not only on jobs but also on the company spending $100 million on buildings and technology, a per-job breakdown isn't possible.Here's how it works:
If CIGNA
Maintains the 3,883 jobs it has today
+ adds 200 jobs
+ spends at least $100 million in capital investments in Connecticut
The company receives:
•a $15 million, zero-interest loan that is forgivable after 10 years
•up to $2 million for relocation, training or recruiting
•Up to $3 million off its state corporate income taxes in years 4 through 7, no more than 70 percent of its obligation
•Up to $6 million off its state corporate income taxes in years 8 through 10, no more than 70 percent of its obligation.
MAXIMUM VALUE: $47 M
If CIGNA invests the $100 million, keeps the 3,883 jobs and adds 400 more positions:
Then the company receives:
•a $15 million, zero-interest loan that is forgivable after 10 years
•up to $4 million for relocation, training or recruiting
•Up to $4 million off its state corporate income taxes in years 4 through 7, no more than 70 percent of its obligation
•Up to $8 million off its state corporate income taxes in years 8 through 10, no more than 70 percent of its obligation
MAXIMUM VALUE: $59 M
If CIGNA invests the $100 million, keeps the 3,883 jobs and adds 600 more positions:
•a $15 million, zero-interest loan that is forgivable after 10 years
