More Great Job News For Central Indiana!

Consumer insurance giant, Geico, plans to lease a big chunk of office space in Carmel and bring more than 1,000 jobs to the city, sources told IBJ.

Gov. Mike Pence is slated to make a major economic development announcement at 1:15 p.m. Monday with “executives from a Fortune 500 company,” according to the Indiana Economic Development Corp. IEDC officials declined to reveal details of the announcement ahead of the press conference, and did not return messages to confirm Geico’s involvement.

Geico will lease space in an office building at 101 W. 103rd St., a 320,000-square-foot structure that is part of the Carmel campus for Technicolor USA Inc. Pence’s press conference on Monday is scheduled for that site.

The building has 107,000 square feet available for rent, according to an online listing from leasing agent CBRE Group Inc. It was not immediately clear how much space Geico would occupy in the building.

Geico is a wholly owned subsidiary of Omaha, Neb.-based Berkshire Hathaway Inc., which ranks seventh on the recent Fortune 500 list of America’s largest companies. Geico is the third-largest private passenger auto insurance company in the United States.

A representative from Geico would provide no details on the announcement on Monday morning, passing requests for information to the IEDC.

With the addition of Geico, the North Meridian Street corridor in Hamilton County is becoming an epicenter for major insurance firms. Public company CNO Financial Group., with a market capitalization of roughly $2.5 billion, is headquartered at 11825 N. Pennsylvania St., a stone’s throw from Meridian Street. Baldwin & Lyons Inc. announced earlier this month that it would move its headquarters from downtown Indianapolis to 111 Congressional Blvd. in Carmel.

as reported by IBJ – Indiana Business Journal