By Kevin Collison
Swiss Re, a global reinsurance firm based in Switzerland, is relocating its Overland Park office to downtown Kansas City, a move that will bring 400 jobs.
Missouri Gov. Eric Greitens announced the move Wednesday, which follows a visit by the governor to the firm’s headquarters in Zurich. The firm will be moving into space at One Kansas City Place, downtown’s tallest skyscraper, in late 2018.
“I’m proud to say that our work is getting results,” Greitens said in a statement. “We’re taking the state in a new direction with more jobs and higher pay.”
Eric Smith, president and CEO of Swiss Re America, said his firm was excited about the move downtown.
“This is an opportunity to be closer to our lead U.S. regulator and update our workspace to meet the work needs of today,” Smith said in a statement. “Kansas City is a great location for our company, and we look forward to partnering with Missouri.”
Missouri is offering up to $20 million in incentives over the next five years to recruit the company from Kansas through its Missouri Works Program.
“Swiss Re is a global leader in the insurance industry, and they’ll be a great fit here in Missouri,” said Rob Dixon, acting director of the State Department of Economic Development.
Swiss Re is a leading wholesale provider of reinsurance, insurance and other insurance-based forms of risk transfer. It was founded in Zurich in 1863 and has 80 offices around the world.
The decision to bring 400 jobs to downtown helps meets a major goal of the Downtown Council, which held a summit earlier this year on the topic of bringing more private employers downtown.
Earlier this year, Spring Venture Group announced it was expanding into new space at the 12 Wyandotte Plaza building in downtown and expected to add 681 jobs over the next few years.
Both 12 Wyandotte Plaza and One Kansas City Place are managed by Executive Hills Management. Company executives could not be reached for comment.
Yup…. and in five years when the incentives have expired, they will take money from Kansas and move back to JOCO. Gotta love that corporate welfare.
Greg you comment would apply had there not been an urban renaissance underway…the alternative to mandates and incentives is to just make KCMO better.
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