Allstate Insurance to Create 1300 New Jobs in Major Expansion of Irving Operations
Allstate Insurance Co. plans to hire 1,300 new employees and invest $11 million over the next five years in a major ramp-up of its Irving operations. The nationwide insurer first planted roots in the North Texas suburb in the 1970s. Since then, it's built a new campus on the northwest side of DFW International Airport and grown to about 1,770 employees.
Texas Gov. Greg Abbott, who announced the expansion Tuesday, said the company will receive a $2.6 million grant from the Texas Enterprise Fund, the state's business incentive fund. To receive the grant, Allstate must create at least 1,300 jobs by the end of 2024 and maintain the jobs through 2025. Allstate plans to create 150 jobs by the end of 2019 and create 250 more by the end of 2020, according to its agreement with the state. It plans to hire 400 more people in 2021 and 500 more people in 2024. The average wage required in the agreement starts at $64,835 and increases 3% a year. "Allstate is one of the largest and most recognizable insurance providers in the nation," Abbott said in a statement. "Allstate's expansion in Irving is more than a capital investment, it is an investment in this community — one that will create more jobs and spur economic growth." Allstate is also eligible to receive up to $2.8 million in grant money from the city of Irving, said assistant city manager Philip Sanders.
Allstate was the first company to buy land in Las Colinas, a business park that's now home to the headquarters of oil giant Exxon and other major corporate offices. The Chicago-based insurer purchased a 22-acre tract for a regional headquarters in 1973. It began building its current campus in 1990 on Freeport Parkway. At the time, the company said the Irving operation would serve about one-third of Allstate's U.S. customers. Since planting its flag in North Texas, the company has become the fourth largest employer in Irving, after global bank Citigroup, wireless carrier Verizon and the Irving Mall, according to the Irving-Las Colinas Chamber of Commerce. With the expansion, Allstate will become Irving's second-largest employer...