Nearly 300 employees work at Aetna's new office in New Albany and the company is looking to hire roughly 300 more.

By the end of 2020, Aetna wants to employ 650 associates at its office at 6005 Nacot Place in the New Albany International Business Park, said Brad Fischer, Aetna market president for Ohio and Kentucky.

"It's an exciting time for Aetna," he said.

When Aetna reaches that hiring goal, the company will employ about 1,500 employees at the Nacot Place office and its 7400 West Campus Road location, Fischer said.

Aetna is a health-care company that sells insurance plans and related services.

Annual salaries for its new jobs would be around $40,000 and the positions primarily would be for customer service or clinical roles, such as nurse practitioners, Fischer said.

Employees began moving into the 6005 Nacot Place building at the end of May, he said. Aetna spent $8 million in interior construction on the building.

The company now has more than 50,000 square feet of office space in the business park, Fischer said.

New Albany is a strategic location for recruiting, enabling Aetna to search for employees who want to live in city, suburban or rural areas, he said.

Aetna set up shop in New Albany in 1998 and was one of the first companies that committed to move to the business park, said city spokesman Scott McAfee.

If Aetna had 650 employees by the end of 2020, the company would be among the top three employers in terms of staff size, he said.

Based on the estimated $40,000 salaries, per ThisWeek's calculations, the 650 jobs could bring in an estimated $520,000 in annual income-tax payroll withholding revenue. New Albany has an income-tax rate of 2 percent on all individual earned income and corporate net profits, according to the city's website.

If the city's revenue-sharing agreements are taken into account, each year, $182,000 would stay with the city, $182,000 would go to the New Albany-Plain Local School District and $156,000 would go to the New Albany Community Authority.

More than 80 percent of general-fund revenue for city services comes from income taxes, most of which are derived from businesses and their employees in the business park, McAfee said.

"Companies locating here have a huge impact on the services people receive, and they have also contributed more than $68 million in property- and income-tax revenues to the New Albany-Plain Local Schools since 1998," he said. "This new investment is particularly special because Aetna was one of our very first commitments when our business park was literally a vision in a cornfield."

ssole@thisweeknews.com

@ThisWeekSarah