GEICO insurance company plans to expand its claims operations in the Katy area, bringing about 1,000 new jobs and $8.5 million in capital investment over the next five years, according to a joint announcement Dec. 2 by GEICO CEO Tony Nicely and Gov. Rick Perry.
“We’re excited about expanding our claims operations with our new Katy office,” Nicely said. “We know from the experience we’ve already had in Houston that it’s a great environment for business; the workforce is excellent, and the quality of life is outstanding.”
The company, which was founded in Fort Worth in 1936 and now employs about 29,000 workers, has leased Mason Creek Office Center I, at 21420 Merchants Way in Katy and expects to employ about 400 people by 2015 and add up to 600 more by 2018. The positions will include entry-level claims representatives, degreed candidates for liability claims representatives and college graduates for the company’s “fast-track management development program” with a claims operations focus, according to a statement from the company.
The new center, when fully staffed, will represent a significant shift in the Katy area’s employment landscape, said Lance LaCour, president and CEO of the Katy Area Economic Development Council.
“When fully staffed, GEICO will be one of the top 20 employers in the Katy area, which includes a part of the Energy Corridor,” LaCour said. “Katy’s dynamic and energetic talent pool, great business climate and available spec buildings were surely key ingredients for GEICO’s decision.”
Perry suggested that the company’s expansion to the Katy area was an affirmation of the state’s broader business-friendly climate.
“Whenever we hear about a major employer expanding or relocating to Texas, it affirms what we’ve been telling people all these years,” Perry said. “When you create a place that rewards innovation and hard work and frees people to do best in pursuit of their dreams, good things happen.”
GEICO has more than 830,000 policyholders in Texas. The company employes about 1,900 workers at its southwest regional office in Dallas, according to information provided by the company.