updated: 3/18/2013 4:30:17 PM
A national insurance company plans to create up to 1,200 jobs in central Indiana. GEICO has announced it will lease space in Carmel to expand its operations. Chairman Tony Nicely says the company chose the location in part because of the "talented and well-educated work force in the area." The Indiana Economic Development Corp. is offering the company up to $10 million in conditional tax credits based on job creation plans.
March 18, 2013
Indianapolis, Ind. -- Governor Mike Pence joined GEICO Chairman Tony Nicely today to announce the company's plans to locate a customer service center here, creating up to 1,200 new jobs by 2016.
The Washington, D.C.-based auto insurer will invest millions of dollars to lease, renovate and equip 109,000 square feet of space at 101 W. 103rd St. in the Indianapolis metropolitan area. The new office, which is expected to be operational by late April, will house professional insurance agents, their training and supervisory teams and additional management and support staff.
"Indiana continues to win the business of leading corporations like GEICO," said Pence. "While our greatest selling point is always our quality workforce, Indiana's fiscal stability, low-tax climate and business-friendly policies make days like today happen. We welcome GEICO to Indiana and are confident the gecko will find that our state works for business."
GEICO, which currently has 27,000 associates across the country, plans to begin recruiting immediately and invites interested candidates to apply at http://careers.geico.com.
"We're very pleased that our substantial growth is making it possible for us to open a new office," said Nicely. "We chose central Indiana because we know there is a talented and well-educated workforce in this area and we want to offer people long-term career opportunities as we continue to expand."
Founded in 1936 as an automobile insurance company, GEICO (Government Employees Insurance Company) is the third largest private passenger auto insurer in the country, serving more than 11 million auto policies and covering more than 18 million vehicles (auto and motorcycle).
The Indiana Economic Development Corporation offered Government Employers Insurance Company up to $10,000,000 in conditional tax credits and up to $400,000 in training grants based on the company's job creation plans. These tax credits are performance-based, meaning until Hoosiers are hired, the company is not eligible to claim incentives. The city of Carmel supports the project.
"We are thrilled to welcome GEICO's first Indiana location to the Carmel community. Our focus and commitment to a high quality of life and low taxes are always key in attracting and retaining business. When a company with a solid reputation such as GEICO decides to invest in our city, we realize a long term gain through economic development and job growth. With the creation of 1,200 jobs by 2016, this is great news for Carmel and the region," said Carmel Mayor Jim Brainard.
Insurance providers like GEICO continue to find the available, talented workforce they need for success in the Hoosier State. Indiana has the highest concentration of insurance education programs in the nation, with insurance degree programs offered at Ball State University, Indiana State University and Butler University.
GEICO (Government Employees Insurance Company) is a member of the Berkshire Hathaway family of companies and is the third-largest private passenger auto insurance company in the United States. GEICO provides millions of auto insurance quotes to U.S. drivers annually. The company is pleased to serve more than 11 million private passenger customers and insures more than 18 million vehicles (auto & cycle).
GEICO's online service center helps policyholders take care of policy sales, policy changes, claims reporting and to print insurance ID cards.
GEICO also provides insurance quotes on motorcycles, all-terrain vehicles (ATVs), travel trailers and motorhomes (RVs). Coverage for boats, life, homes and apartments is written by non-affiliated insurance companies and is secured through the GEICO Insurance Agency, Commercial auto insurance and personal umbrella protection are also available.
For more information, go to www.geico.com.
Created in 2005 to replace the former Department of Commerce, the Indiana Economic Development Corporation is governed by a 12-member board chaired by Governor Mike Pence. Victor Smith serves as the Indiana Secretary of Commerce and Eric Doden is the president of the IEDC.
The IEDC oversees programs enacted by the General Assembly including tax credits, workforce training grants and public infrastructure assistance. All tax credits are performance-based. Therefore, companies must first invest in Indiana through job creation or capital investment before incentives are paid. A company who does not meet its full projections only receives a percentage of the incentives proportional to its actual investment. For more information about IEDC, visit www.iedc.in.gov.