A South Bend-based insurance management firm is expanding by moving to a new downtown office. The South Bend Tribune reports Xanatek Inc. will create up to 25 new jobs over the next five years with the expansion.
Xanatek will relocate to a building across from Four Winds Field, where the South Bend Cubs play. The publication reports Xanatek will invest nearly $350,000 into building and parking lot improvements over the next 18 months.
The company plans to purchase the city-owned parking lot north of the new building for $20,000. The Tribune says the South Bend Redevelopment Commission will consider the sale at its next meeting Monday.
In addition to the new jobs the expansion will create, the company will also retain 24 jobs with an average salary of $53,000.