Residents of Simsbury, Connecticut -- a suburb of Hartford -- are wondering just how many local jobs will be lost as Hartford Financial [profile] reorganizes. The Farmington Patch reports that the changes "could have a significant impact on the town's tax base and resident employees. The paper adds that it could take 12-18 months for residents to learn the total impact.

As part of the changes The Hartford will move its mutual fund business to an as yet unknown location.

The Hartford paid nearly $1.1 million in property taxes to Simsbury in 2011. That was more than any other taxpayer. Its property accounts for 2.19 percent of the town's net capital and it employs more than 3,000 people in the area.

Simsbury officials learned of the The Hartford's plan at the same time as the rest of the world and the paper is reporting that they are planning to meet with the insurer's executives to discuss the impact on the town.

"We want to make sure that The Hartford knows how important they are to our community and the Hartford region," First Selectwoman Mary Glassman told the paper. 

Edited by: Sean Hanna, Editor in Chief


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