Metlife Re-Locating To Bloomfield.

By
Mortgage and Lending with George Souto NMLS #65149 FHA, CHFA, VA Mortgages NMLS #65149

 Metlife one of Connecticut’s major employers, announced yesterday that they will move all of their Connecticut operations to Bloomfield.  Chairman, President and Chief Executive Officer, C. Robert Henrikson,  informed all Metlife employees of this long anticipated move this morning by e-mail.

The e-mail stated that Metlife had signed an agreement to purchase an office building complex in the Gillette Ridge office park located on Simsbury Road in Bloomfield, and that the transaction was expected to be completed in May.  Metlife expects to make several improvements to their new facility which will include a cafeteria, fitness center, and free parking, all of which it does not presently have at their present Hartford location.  The new Bloomfield location will be one of MetLife’s largest locations in terms of both size and number of employees. 

Besides relocating their Hartford operations to this new facility in Bloomfield, Metlife will also relocate its other operations in Rocky Hill, and Glastonbury into this new site.  The exact dates that all the moves will take place have not been finalized yet, the plan is to relocate the Glastonbury operations by December, 2007, the Rocky Hill operation during the first quarter of 2008, and Hartford during the third quarter of 2008, which will be the time that their Hartford lease will have ended.

This could be a big boost for area businesses in Bloomfield as well for the Bloomfield Real Estate market.  However, it can equally be a major blow to downtown Hartford businesses, only time will tell what the economic impact will be to both these communities.

 

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George Souto is a Loan Officer who can assist you with all your FHA, CHFA, and Conventional mortgage needs in Connecticut. George resides in Middlesex County which includes Middletown, Middlefield, Durham, Cromwell, Portland, Higganum, Haddam, East Haddam, Chester, Deep River, and Essex. George can be contacted at (860) 573-1308 or gsouto@mccuemortgage.com

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 Info about the author:

George Souto NMLS# 65149 is a Loan Originator who is licensed in #CT, #RI, #MA, #NH, & #FL and can assist you with all your #FHA, #Conventional, #VA, #USDA, and #State Bonded Progam #mortgage needs in #CT, #RI, #MA, #NH, & #FL. George resides in Middlesex County which includes #Middletown, #Old Saybrook, #Middlefield, #Durham, #Cromwell, #Portland, #Higganum, #Haddam, #East Haddam, #Moodus, #Chester, #Deep River, and #Essex. George can be contacted at (860) 573-1308 or souto@snet.net

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Rainmaker
96,314
Fran White
North Kansas City Real Estate, Reece and Nichols Residential - Kansas City North, MO
Kansas City North Real Estate, 816-682-3897

Sounds like things are going to be bloomin' in Bloomfield!

Apr 20, 2007 11:42 PM #3
Rainmaker
223,300
Rick & Ines - Miami Beach Real Estate
Majestic Properties - Miami Beach, FL
Talk about  a new "job base" for your community - that's great news!
Apr 21, 2007 01:16 AM #4
Rainmaker
317,807
Monika McGillicuddy
Berkshire Hathaway HomeServices Verani Realty - Hampstead, NH
Southern NH & the Seacoast Area
Sounds like it could be a plus for REALTORS...think of how many new employees will need homes.
Apr 21, 2007 01:46 AM #5
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George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
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Ray, this could be good for the Bloomfield housing market even though the two towns are next to each other.  The reason for that is because there isn't a quick way to get to the new location in Bloomfield.  Many of the people working in Hartford take a commuter bus into Hartford, these same people will now have to drive, so they might choose to relocate closer to the facility because some of them live down on the shore.

The biggest impact will be to the area businesses.  Many of these people now eat and shop during their lunch break and after work in Hartford.  They will most likely now be doing all of that in Bloomfield.

Danny, there is about 2,000 employees between the three facilities.

Fan, I like the play on words.......LOL 

Ines, it should be a real boost to Bloomfield’s tax base also, that is if the town did not give them all sorts of tax abatements.

Monika, it could be depending on how people react the new commute. 

Eloise, Bloomfield is in CT and the two towns are almost next to each other so everyone has to relocate if they want to keep their job.  The operations in Hartford will be closed down.

Apr 21, 2007 04:31 AM #7
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Jennifer Fivelsdal
JFIVE Home Realty LLC | 845-758-6842|162 Deer Run Rd Red Hook NY 12571 - Rhinebeck, NY
Mid Hudson Valley real estate connection

George I think you got it right.  It will not be good for Hartford, people will be out of work and the economic impact is even great when you consider all the businesses who benefited from Metlife presence; for example restaurants.  And will there be other companies to take over the space vacated by Metlife?

On the other hand Bloomfield should be happy. Positive economic impact for the city and local Realtors.

Apr 21, 2007 05:04 PM #8
Rainmaker
169,069
Linda Davis
RE/MAX Home Team - Gales Ferry, CT
The good news is they are staying in Connecticut.   Connecticut is not very business friendly and we can't afford to lose many more.  I'm sure Bloomfield gave them plenty of incentives like tax abatement to move.  But it will be a real positive to small business in their community.
Apr 21, 2007 10:20 PM #9
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George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
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Jennifer, yes that is my take on it too, I am just concerned that it will have more of a negative impact on Hartford than it will be of benefit to Bloomfield.

Linda, yep I am sure that Bloomfield made it well worth it for MetLife to move, I hope it will be worth what they possibly gave up to get them there.

Apr 22, 2007 07:41 AM #10
Rainmaker
495,586
Philip Turner
MCCUE MORTGAGE COMPANY - New London, CT
Mortgage Banker Since 1980
It seems like Hartford takes one step forward and two steps back  It's too bad they couldn't do something to keep Metlife in town.   I guess moving to Bloomfield is better than losing them to another state.
Apr 22, 2007 09:05 AM #11
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George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
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Phil, you are right.  My wife works for MetLife and she was pulling for them to stay in Hartford.  She is not looking forward to the commute to Bloomfield at all.
Apr 22, 2007 11:52 AM #12
Rainmaker
659,643
Randy Prothero
eXp Realty - Mililani, HI
Hawaii REALTOR, (808) 384-5645
At least the workers won't be losing their jobs.
Apr 23, 2007 08:23 PM #13
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George Souto
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Randy, that is a VERY important point, they are not planning on any down sizing.
Apr 24, 2007 12:23 AM #14
Rainmaker
431,831
Frances C. Rokicki
Fran Rokicki Realty, LLC - Bolton, CT
Broker-Mentor,CRS

George,

Both my Daughter and Daughter-in-law work at MetLife.  Neither of them are presently working at the Hartford site.  My understanding is that they moved all of their offices to the one site in Bloomfield, which is a short hop from Harford, especially with the highways!  I-91 and the newer connector I-384 as well as, I-291 make Bloomfield very accessible.  I believe the site was previously another insurance company's location.  This has been in the works for quite a while.  Most feedback is positive!  Especially, that they stayed in Connecticut!  I have had relo's looking at my listings in East Hartford, Ellington, Manchester and Vernon already!  Yes, lots of folks coming in! Yeah!

Jul 07, 2007 01:32 AM #15
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Frances, no one that my wife works with is looking forward to the move for various reasons.  First many of those that work in Hartford take the commuter bus into Hartford, my wife included.  Taking the bus is far cheaper than driving at 3.00+ a gallon for gas and for parking.  Second by taking the bus they don't have to worry about dealing with the weather conditions.  For those that are not in Hartford, they are already commuting this is probably not as important, but for the majority of the employees that work in Hartford this is a biggie.  Third, even though all those road connectors are there they all end at right around exit 35 off of 91, and then you have about a 10 mile drive of heavy side road traffic to get to the building in Bloomfield (which is the old SIGNA building).  I could go on but I will end there.  It seems like from an employee view point there is more negatives than positive.  They had at least a couple of more buildings that would have worked for them and made it more convenient to employees at least from a commuting stand point.  The Aetna building in Middletown (Aetna is moving to of all places Hartford) or the brand new Money Lenders building in Wallingford to just mention a couple.  Metlife had to of gotten a fantastic deal on the SIGNA building for them to of chosen that one.

Jul 07, 2007 05:20 AM #16
Anonymous
Bob McCall
The move to Bloomfiled is the worst possible place they could have picked.  For many of the employees who work in Rocky Hill, their commute is currently 45 minutes or more.  The commute will now be 1hr to 1 hr and 15 minutes each way.  That is going to be over three hours per day commuting.  Some will be commuting close to 100 miles per day. The majority of people who work in Glastonbury live east of the CT River. As far as relocating to Bloomfield or the surrounding communities, the positions that are in Rocky Hill and Glastonbury are not six figure salaries or even $60,000 salaries with the exception of some managers.  I believe there is going to be a high turnover.  Those of you who expect a big real estate boom are going to be sadly mistaken.  Most of the people that I work with aren't planning on leaving the complex to shop.  They plan on coming in going to work each day and getting the hell out of that palce as quickly as possible.
Dec 24, 2007 05:08 AM #17
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George Souto
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Bob, my wife is not looking forward to the move at all.  Right now she can take a commuter bus into Hartford, but she will not be able to do that into Bloomfield.  So she will have to drive, deal with the whether and traffic.  I wish they had taken a look at the Aetna building in Middletown.  It is central in the state, and easy on and off from RT 91.
Dec 24, 2007 06:57 AM #18
Anonymous
Clara

I agree with George, I live in the East section of CT and I hate just to think about having to stop taking the bus and drive and I am certainly not leaving a home that I love to move to Bloomfield or surroundings.  As for shopping with Bloomfield?  Forget about it, it will be going in, work and get the hell out of there as fast as I can.  Really, really bad move as far as most employees can say.  Employees are looking for jobs in Hartford already.

Jun 03, 2008 02:48 AM #19
Rainmaker
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Richard Sweum
1st Security Bank - Everett, WA

Another blow to my dreams of Hartford getting the Whalers going again!  My favorite hockey team of all time!

Jun 03, 2008 03:41 AM #20
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George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
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Clara, I showed your comment to my wife and she got a big laugh out of it :)

Rich, it would be nice to get a Pro Team in Hartford, hockey, baseball, basketball, or football any of them would be nice.

Jun 03, 2008 12:25 PM #21
Rainmaker
431,831
Frances C. Rokicki
Fran Rokicki Realty, LLC - Bolton, CT
Broker-Mentor,CRS


George, My Daughter-in-law and my Daughter work there, too! Not really a commute issue for them.

Jun 05, 2008 12:30 PM #22
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George Souto
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France I wish that was the case for my wife.

Jun 05, 2008 12:48 PM #23
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