On Thursday, MassMutual announced that it is making a major expansion in Massachusetts, and closing its Enfield facility.
In a press release, the company announced a multi-year plan “to expand its footprint in its home state of Massachusetts by significantly increasing its presence in Springfield and growing operations in Boston.”
At it's Enfield facility there are 1,500 workers.
Enfield's Town Manager Bryan Chodkowski said he didn't know the facility was closing until the media reported it.
"It's been my experience that typically we would receive this information in advance - in this instance we did not," he said.
The company has been in Enfield for nearly 10 years, and it was the second CT home to MassMutual. The company left Hartford in 2009, then bought the building and spent $38 million in renovations at what's called the Bright Meadow campus.
At that time, there were 350 employees in the annuities division, as well as customer service.
Enfield is about 10 miles from Springfield, so employees who are able to relocate may not have to move.
The company is also closing offices in other states, including New Jersey and Pennsylvania, and that the Enfield and Springfield locations are only about 60 percent full so it made sense to consolidate.
MassMutual is the largest taxpayer in Enfield, but the upside is they own the property.
"So that is a benefit for us - so they do have that obligation here --but the fact they are consolidating - they'll be interested in moving this property from their portfolio and we look forward to working with them to do that,” Chodkowski said.
The company said it “will invest nearly $300 million into the Commonwealth and increase its workforce in the state by approximately 70 percent by the end of 2021.”
MassMutual said it expects to increase the workforce at their Springfield headquarters by 50 percent, adding 1,500 positions to that facility over the next four years.
By 2021, there are expected to be a total of 4,500 employees in Springfield.
“Following a thorough strategic assessment of our operations and footprint, we concluded that our 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. 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.”
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