|
Gov. John
Kasich...
Insurance
Industry Leaders to Make New Investments in Ohio
Progressive
Insurance and Allstate Insurance to Retain Thousands of Jobs in
Northeast Ohio February 1, 2012 COLUMBUS
– Gov. John R. Kasich today announced that two giants in the insurance
industry – The Progressive Group of Insurance Companies and Allstate
Insurance Company – will invest $35 million and $20 million,
respectively, to strengthen their already large presence in Northeast
Ohio. Ohio is the eighth largest insurance state by premium
volume, and the insurance industry is one of the state’s largest
employers.
“The insurance industry employs thousands of Ohioans, and it’s great to
see companies like Allstate and Progressive reinvesting in our state
and our workers,” said Gov. John R. Kasich. “We’re focused on
continually improving Ohio’s business environment so companies like
these know this is a place where they should stay and grow.”
On Monday, the Ohio Tax Credit Authority approved tax credits to assist
with the companies’ job retention. With the help of JobsOhio and
the state, Progressive has committed to retain 1,500 jobs in Cuyahoga
and Lake Counties, while Allstate has committed to retain 1,200
positions in Hudson (Summit County).
A total of 17 projects were approved during Monday’s Tax Credit
Authority meeting. Pending finalization from the companies, these
projects would account for 1,072 new jobs, 7,858 retained jobs, $468
million in total payroll and $219 million in new capital investment.
***
The Allstate Corporation (NYSE: ALL) is the nation’s largest publicly
held personal lines insurer known for its “You’re In Good Hands With
Allstate®” slogan. Now celebrating its 80th anniversary as an insurer,
Allstate is reinventing protection and retirement to help nearly 16
million households insure what they have today and better prepare for
tomorrow. Consumers access Allstate insurance products (auto, home,
life and retirement) and services through Allstate agencies,
independent agencies, and Allstate exclusive financial representatives
in the U.S. and Canada, as well as via www.allstate.com and 1-800
Allstate®.
***
The Progressive Group of Insurance Companies makes it easy to
understand, buy, and use auto insurance. Progressive offers choices so
consumers can reach them whenever, wherever, and however it’s most
convenient for them—online at progressive.com, by phone at
1-800-PROGRESSIVE, or in-person with a local agent.
Progressive offers insurance for personal and commercial autos and
trucks, motorcycles, boats, recreational vehicles, and homes. It’s the
fourth largest auto insurer in the country, the largest seller of
motorcycle insurance, and a leader in commercial auto insurance.
Progressive also offers car insurance online in Australia at
http://www.progressiveonline.com.au.
Founded in 1937, Progressive continues its long history of offering
shopping tools and services that save customers time and money, like
Name Your Price®, the Snapshot Discount®, and a concierge level of
claims service.
The Common Shares of The Progressive Corporation, the Mayfield Village, Ohio-based holding company, trade publicly at NYSE:PGR.
|
