GEICO announces 1,200 jobs for Carmel
You may be seeing a little more of the GEICO gecko in Indiana soon and he's promising to bring up to 1,200 jobs with him.
Over the last eight years, GEICO has become the fastest-growing automobile insurance company in America and now it is coming to central Indiana.
GEICO Chairman Tony Nicely made that official Monday in Carmel.
"We need a lot more people. In the next year we hope to hire at least 400 people and in the next several years be up to fifteen to 1,600 or more," said Nicely.
The Washington, DC-based company plans to create a 109,000-square-foot customer service center in Carmel.
GEICO's announcement in one of the old Thompson buildings along Meridian Street gave the company an opportunity to brag about becoming the third largest insurer of automobiles in the country with nearly a ten-percent market share. But it currently touts less than five percent in Indiana.
Nicely said the hiring will start immediately.
"GEICO will start to take applications this afternoon," he said. "We are raring to go."
Nicely says those jobs will be in sales and service initially, both online and on the telephone.
The Carmel operation is expected to open by late April.
Carmel Mayor Jim Brainard had to be happy about the decision to put the fourth Berkshire Hathaway Company to be located in Indiana in his city. Nicely said the decision came down to the quality of the workforce and quality of life that he said was unsurpassed.
While Governor Mike Pence was happy, he believes there is plenty of work that lies ahead.
"But with unemployment going up we need to recognize as we celebrate today that we've got out work to do," said the governor.
The announcement gave the governor the chance to stump for his proposed ten-percent cut in state income tax, which he believes will better equip the state to compete with its neighbors on the jobs front.
"We have the chance with one of the largest surpluses in state history to make Indiana more attractive for investment and I think we need to seize the chance to do that," he said.
The Indiana Economic Development Corporation is offering $10 million in conditional tax credits and $400,000 in training grants if the company meets its job threshold.
What does GEICO Stand for?
Government Employees Insurance Company. Founder Leo Goodwin first targeted a customer base of U.S. government employees and military personnel. Today the company has grown to provide insurance to a wide range of customers, no matter whether they're employed by Uncle Sam or the private sector.
How many Customers does GEICO Serve?
- 11 million auto policyholders and growing
- GEICO insures more than 17 million vehicles
Just the Stats on GEICO
- Tony Nicely, Chairman, President and CEO, Insurance Operations
- Third-largest private passenger auto insurer in the United States (A.M. Best)
- One of the fastest-growing major auto insurers in the U.S.
- Employs more than 27,000 associates
- Maintains 12 major offices around the country
- Provides 24-hour service, 7 days a week, 365 days a year
- Seven affiliated companies to meet insurance needs of drivers
What's the Connection with Berkshire Hathaway?
In 1996, GEICO became a wholly owned subsidiary of Berkshire Hathaway, headed by Warren Buffett, one of the country's most successful investors. For the past several years, Fortune magazine has named Berkshire's property-casualty insurance operation the most admired in the country.
- AA+ rating from Standard and Poor's
- Aa1 from Moody's
- A++ from A. M. Best