Zurich North America announced today it will relocate its Chicago office to 300 South Riverside Plaza to accommodate its downtown-based employees. Its new Chicago office space to be located on the 20th and 21st floors is within a LEED-certified building that aligns to Zurich's Corporate Responsibility strategy by contributing to the insurer's worldwide goal of reducing its global carbon footprint.Chicago Mayor Rahm Emanuel announced last year Zurich would add 150 additional employees to its Chicago office over the next three years, raising its total Chicago employee base to 500 insurance and risk management professionals by 2015. This move announced today is designed to accommodate those additional employees as they come on board.
"For more than a century, Zurich has been one of Chicago's great companies, and their expansion has positive economic impacts in the city and the region," said Mayor Emanuel. "Attracting jobs for the city's highly-skilled workforce is a priority in making Chicago a world-class city. This move will create more jobs for the residents of Chicago, and will build the strength of our city's collaborative, highly-trained workforce."
The main factors contributing to Zurich's decision to relocate from floors 5, 6 and 17 at 10 South Riverside Plaza include the opportunity:
· To offer its employees a modern space that allows for a collaborative work environment;
· To choose a LEED-certified building that will include refurbished "green" furniture;
· To stay strongly connected to key customers and brokers in Chicago.
"Having a strong presence in the City of Chicago, as well as our North American headquarters in Schaumburg, Ill., underscores our continued commitment to growth and partnership in Chicagoland," said Mike Foley, CEO of Zurich North America Commercial.
Chicago has played an important role in Zurich's more than 100-year history in the U.S., as Zurich insured the construction for the first section of the Chicago Subway in 1930 and the 1933 World's Fair in Chicago. It's also where Zurich chose to open its first U.S. headquarters in 1912 in the Chicago Loop's then-tallest skyscraper - the Insurance Exchange Building. In 1980, Zurich moved its North American headquarters to Schaumburg, Ill.
Zurich currently employs approximately 2,500 people at its North American headquarters in northwest suburban Schaumburg, Ill., and about 60,000 people serving customers in more than 170 countries. The insurer continues to support the Chicagoland and Illinois economy through wages to its employees and purchasing of goods and services. According to a recent University of Illinois economic study, Zurich generates nearly $1.3 billion in economic impact annually in Illinois. For each job at Zurich, an additional 1.7 jobs are generated throughout the economy in Illinois. For each dollar paid in wages and salaries at Zurich, an additional $1.23 is accumulated in the rest of the economy in Illinois1.
Zurich has already begun remodeling its new Chicago office space. The move will take place during the second quarter of 2014.