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Geico service center to create up to 1,200 jobs in Carmel

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Consumer insurance giant Geico plans to create a customer service center in Carmel that will bring up to 1,200 jobs to the city.

Gov. Mike Pence and Geico Chairman Tony Nicely announced the plans at a press conference Monday at 101 W. 103rd St., the site of the planned center. Geico will lease 109,000 square feet of space in a 320,000-square-foot building that is part of the Carmel campus for Technicolor USA Inc.

The new office, which is expected to open by late April, will house insurance agents, training and supervisory teams, and other management and support staff. The Washington, D.C.-based auto insurer, which currently employs about 27,000 associates across the country, plans to begin hiring immediately, according to the Indiana Econopmic Development Corp.

IBJ first reported details of the deal on Monday morning.

"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," Nicely said in prepared comments.

The company will invest millions of dollars to lease, renovate and equip the center, according to the IEDC. A more specific figure was not immediately available.

Geico is a wholly owned subsidiary of Omaha, Neb.-based Berkshire Hathaway Inc., which ranks seventh on the recent Fortune 500 list of America’s largest companies. Geico is the third-largest private passenger auto insurance company in the United States, serving more than 11 million auto policies and covering more than 18 million vehicles.

The IEDC offered Geico up to $10 million in conditional tax credits and up to $400,000 in training grants based on the company's job creation plans. The tax credits are performance-based, meaning the company must hire workers to be eligible for the incentives.

The announcement comes on the same day that the Indiana Department of Workforce Development reported that the state's unemployment rate rose 0.3 of a percentage point, to 8.6 percent, in January.

With the addition of Geico, the North Meridian Street corridor in Hamilton County is becoming an epicenter for major insurance firms. Public company CNO Financial Group., with a market capitalization of roughly $2.5 billion, is headquartered at 11825 N. Pennsylvania St., a stone’s throw from Meridian Street.

Baldwin & Lyons Inc. announced earlier this month that it would move its headquarters from downtown Indianapolis to 111 Congressional Blvd. in Carmel.

In addition, Liberty Mutual Insurance Co. maintains a significant office presence at 350 E. 96th St.

Story first posted at 11:55 a.m. Updated at 1:30 p.m.
 

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  1. It is nice and all that the developer grew up here and lives here, but do you think a company that builds and rehabs cottage-style homes has the chops to develop $150 Million of office, retail, and residential? I'm guessing they will quickly be over their skis and begging the city for even more help... This project should occur organically and be developed by those that can handle the size and scope of something like this as several other posters have mentioned.

  2. It amazes me how people with apparently zero knowledge of free markets or capitalism feel the need to read and post on a business journal website. Perhaps the Daily Worker would suit your interests better. It's definitely more sympathetic to your pro government theft views. It's too bad the Star is so awful as I'm sure you would find a much better home there.

  3. In other cities, expensive new construction projects are announced by real estate developers. In Carmel, they are announced by the local mayor. I am so, so glad I don't live in Carmel's taxbase--did you see that Carmel, a small Midwest suburb, has $500 million in debt?? That's unreal! The mayor thinks he's playing with Lego sets and Monopoly money here! Let these projects develop organically without government/taxpayer backing! Also, from a design standpoint, the whole town of Carmel looks comical. Grand, French-style buildings and promenades, sitting next to tire yards. Who do you guys think you are? Just my POV as a recent transplant to Indy.

  4. GeorgeP, you mention "necessities". Where in the announcement did it say anything about basic essentials like groceries? None of the plans and "vision" have basic essentials listed and nothing has been built. Traffic WILL be a nightmare. There is no east/west road capacity. GeorgeP, you also post on www.carmelchatter.com and your posts have repeatedly been proven wrong. You seem to have a fair amount of inside knowledge. Do you work on the third floor of Carmel City Hal?

  5. I don't know about the commuter buses...but it's a huge joke to see these IndyGo buses with just one or two passengers. Absolutely a disgusting waste of TAXPAYER money. Get some cojones and stop funding them. These (all of them) council members work for you. FIRE THEM!

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