Progressive to expand, create 900 jobs
One of the nation’s largest auto insurers, which is headquartered in Northeast Ohio, will soon grow even larger.
One of the nation’s largest auto insurers, which is headquartered in Northeast Ohio, will soon grow even larger, thanks to a statewide investment in new payroll.
The Ohio Tax Credit Authority on Oct. 30 approved a 2.35 percent, 12-year job creation tax credit for Progressive Corp.’s expansion project in Highland Heights.
The project expects to create 900 full-time positions, generating $63 million in new annual payroll and retaining $819.1 million in existing payroll as a result of the growth.
The company, based at 6300 Wilson Mills Road in Mayfield Village, employs nearly 27,000 people and about 9,000 locally.
According to the state, Gov. John R. Kasich announced the approval of assistance for 10 statewide projects. Altogether, the projects are expected to result in more than $131 million in new payroll, stimulating more than $122 million in investments across Ohio.
Progressive provides insurance for personal and commercial automobiles, trucks, motorcycles, boats, recreational vehicles and homes.
The company has not yet disclosed information regarding the project’s time frame.