February 8, 2018

MassMutual to shutter Enfield campus, consolidate in Bay State

[This story has been updated with comment from the state of Connecticut.]

MassMutual said Thursday it will build a new Boston campus, increase its presence in its Springfield, Mass., headquarters and close its Enfield, Conn., campus, moves that will add 2,000 jobs through 2021.

While "renewing its commitment" to Springfield, where it plans to grow the workforce by 50 percent, adding 1,500 jobs, the mutual life insurance company said it will also close its Enfield campus.

MassMutual plans to invest $50 million in facilities improvements in Springfield, and $240 million in its new Boston campus, the company said.

Other facilities that are closing are in Charlotte, N.C.; Somerset, N.J.; Memphis, Tenn.; and Johnstown, Pa. The positions at all closing campuses will be moved either to the Springfield or brand new Boston campuses, said spokesperson Laura Crisco. This will happen over the next four years and there is "no specific time frame" for the Enfield closing, she said.

The company will retain offices in Amherst, Mass., New York City and Phoenix, Ariz., she added.

Both the Enfield and Springfield campuses are underutilized, so the company decided to invest in the Bay State, Crisco said.

Analyzing the situation, MassMutual determined its home state of Massachusetts "is the best place for us to grow and thrive over the long term," said Roger Crandall, MassMutual chairman, president and CEO.

"We have deep roots and a supportive community in our hometown of Springfield, and we will continue to invest and grow our workforce in the city," he said. "At the same time, as we evolve, a stronger Boston presence immerses us in a booming financial and digital economy and provides us with an enhanced opportunity to recruit innovators from the area's deep and diverse talent pool."

Massachusetts Gov. Charlie Baker said the Commonwealth is providing approximately $46 million to the company in incentives, the largest commitment ever made to a Springfield-based company.

The Connecticut Department of Economic and Community Development [DECD] said in a statement:

"No doubt this is disappointing news, but we are glad that Connecticut employees will retain their jobs which will be relocated to Springfield in 2021. Furthermore, we continue to be encouraged by the job growth and new investments we are seeing from corporations around the state."

DECD said it had offered the company tax credits in 2014 as they planned to invest in and grow the Enfield campus, but the company will now be ineligible to access those credits.

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