Liberty Mutual Chooses St. Louis County for Expansion, More Jobs
Contact: Nancy Schnoebelen
Vice President Marketing & Communications
314.615.7617, nschnoebelen@slcec.com
St. Louis, MO, June 21, 2010 - Boston-based Liberty Mutual Group ("Liberty Mutual"), a diversified global insurer, has leased approximately 55,000 square feet of commercial office space at 1400 S. Highway Road, St. Louis to expand its current operations in St. Louis County.
"This is great news for St. Louis County, and we are pleased Liberty Mutual chose to expand its operations here," said St. Louis County Executive Charlie A. Dooley. "The company is bringing jobs and investment to an area that has been hard hit by layoffs, and we are grateful for Liberty Mutual's continued commitment to our region."
Liberty Mutual's expansion is anticipated to create approximately 100 full-time jobs over two years, strengthening its presence in St. Louis by growing jobs from its existing workforce of approximately 340 employees. These jobs will include a broad spectrum of claims and administrative positions. The company will invest approximately $2 million in new furniture and equipment, generating new tax revenue to the County and appropriate districts; tenant improvements exceeding $1million also are part of its growth plans.
"The State of Missouri and St. Louis County have been great partners in moving our expansion project forward," said Karen Whiteknact, Manager of Corporate Real Estate, "Its support was a critical element in our decision to expand our current operations and create more jobs in the County."
About Liberty Mutual
Helping people live safer, more secure lives since 1912, Boston-based Liberty Mutual Group is a diversified global insurer and fifth largest property and casualty insurer in the U.S. based on 2008 direct written premium. The company also ranks 71st on the Fortune 500 list of largest corporations in the U.S. based on 2009 revenue. As of December 31, 2009, Liberty Mutual Group had $109.5 billion in consolidated assets, $95.0 billion in consolidated liabilities, and $31.1 billion in annual consolidated revenue.
Liberty Mutual Group offers a wide range of insurance products and services, including personal automobile, homeowners, workers compensation, commercial multiple peril, commercial automobile, general liability, global specialty, group disability, assumed reinsurance, fire, and surety. Liberty Mutual Group (www.libertymutualgroup.com) employs over 45,000 people in more than 900 offices throughout the world.
About St. Louis County Economic Council
Founded in 1984, St. Louis County Economic Council serves as the County's economic development agency, driving growth and prosperity in the most economically important county in Missouri. As the only economic development agency in the state to hold the esteemed Accredited Economic Development Organization from the International Economic Development Council, it provides a broad range of services through its six divisions: business development, business finance, economic development collaborative, real estate and community development, St. Louis Enterprise Centers, and World Trade Center Saint Louis.
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