Consumer Insurance giant GEICO announced plans Tuesday to add as many as 1,474 employees by 2023, including hundreds of information technology workers, as it expands its operations in Carmel.
The Chevy Chase, Maryland-based insurer said it will spend nearly $16 million to nearly double the size of its offices at 101 W. 103rd St. with the addition of 104,000 square feet. The insurer currently is housed in 109,000 square feet.
The expanded office will allow the company, which is the second largest U.S. auto insurer behind State Farm, to add IT and claims positions to its existing sales, service and emergency roadside operations. More than 350 of the new positions will be in IT and 1,000 will be in claims handling and customer service.
GEICO—an acronym for Government Employees Insurance Company—opened the Carmel office in 2013 with 250 employees and has since grown the workforce to 1,100.
“The support of this thriving community and our growing customer base in Indiana have made this expansion possible,” Lona J. Montgomery, general manager of the Indianapolis office, said in written comments.
GEICO said nearly 350 IT and claims positions will be added this year. Other jobs will be added over the next five years.
The Indiana Economic Development Corp. has agreed to provide GEICO up to $16 million in conditional tax credits and $500,000 in training grants if it meets hiring goals.
Geico was offered up to $10 million in conditional tax credits in 2013 when it opened the Carmel office and agreed to hire 1,200 workers by the end of 2016. It has since collected about $3.4 million in credits from that agreement.