[ad_1]
Chubb announced plans to open a Philadelphia office in a newly constructed building at 2000 Arch Street.
Parkway Corporation is developing the 18-story, 33,000 square foot, rentable structure. Construction is expected to begin in February 2023.
Chubb said it will create at least 1,250 new positions in Philadelphia following the building’s opening in early 2026, making it the company’s largest office in North America. Chubb pledged to create and retain a total 3,200 Pennsylvania jobs within the first five years of its opening. Chubb also stated that the construction phase will support the creation of hundreds more jobs through local unions.
The new location’s proximity to leading colleges and universities will provide an important talent pipeline, Chubb said. Chubb said that the insurer will hire people through its new apprentice program. This will allow them to work in areas like claims, technology, and underwriting.
Redevelopment Assistance Capital Program, funded by the Commonwealth and facilitated in part by Philadelphia Industrial Development Corporation (PiEC), will provide $10 million to help with construction and development costs. Chubb will serve as the anchor tenant.
Chubb “is proud to put a new stake in the ground in Philadelphia, a city that has been part of our history and success since 1792,” said John Keogh, Chubb’s president and chief operating officer. “We believe in this city, its people and the opportunity it provides. We will provide economic benefits for the City and Commonwealth by expanding our presence. This includes new jobs and stimulation of wider economic activity. The strong support Chubb is receiving from Governor Wolf, Mayor Kenney, City Council President Clarke and our development partner is a testament to the sense of community that continues to make Philadelphia a great place to do business.”
Source: Chubb
Top photo: Artist rendering of Chubb’s new Philadelphia office to be constructed at 2000 Arch Street.
These are the topics
Chubb
Every business day, the most relevant insurance news in your inbox
Subscribe to the Insurance Industry’s Trusted Newsletter
[ad_2]
Source link
