ERIE, Pa., Nov. 11, 2016 /PRNewswire/ -- Executives of
Erie Indemnity Company (NASDAQ: ERIE) today announced the construction of a
new office building on the Erie Insurance Home Office campus in
downtown Erie, Pa. The 346,000
square foot building will be located on East Sixth Street next to
the historic Erie Insurance Heritage Center and extending to East
Seventh and French Streets. Total building and related project
costs are estimated to be $135
million. Construction is expected to begin in spring 2017,
lasting about three years.
At a news conference earlier today, Erie Insurance CEO
Timothy G. NeCastro said the new
building will ease capacity issues for Erie County's only Fortune 500-headquartered
company. "The buildings on our main campus are at full capacity
with little room for expansion. Our master campus plan calls for
another large office space to accommodate ERIE's growth needs today and into the
future."
"ERIE employees are the heart
of this company," continued NeCastro. "It's their dedication and
commitment to our customers, agents and one another that has led to
our continued success. Their work environment needs to effectively
support their day-to-day efforts to deliver exceptional service and
their ongoing development to ensure that they have the opportunity
to learn and grow with ERIE."
Thomas B. Hagen, Chairman of the
ERIE Board of Directors, added,
"This is another active demonstration of ERIE's commitment to the community whose name
we bear and which is such an important part of our entire 91-year
history in downtown Erie. Helping
to build a vibrant Erie community
and further support the Erie Refocused plan is essential to our
company's success and for all who live and work here."
The LEED-certified, environmentally friendly building will have
four larger floors and three, smaller tower floors. Special
features of the building include large collaboration areas, an open
courtyard, and bridges connecting to other ERIE buildings and parking ramps. It will be
the largest building on ERIE's
campus, housing up to 1,200 employees.
The company has engaged the Albert Kahn Associates architectural
firm from Detroit and construction
manager PJ Dick from Pittsburgh to
design and build the new office complex.
Tweetable Highlights
- .@erie_insurance to build 7-story office complex in downtown,
Erie, PA. Share
- .@erie_insurance to build 7-story, 346,000SF, LEED-certified
office complex. Share
- .@erie_insurance Chairman Tom
Hagen: Building a vibrant Erie community is key to our success.
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About Erie Insurance
According to A.M. Best Company, Erie Insurance Group, based in
Erie, Pennsylvania, is the 10th
largest homeowners insurer and 12th largest automobile insurer in
the United States based on direct
premiums written and the 15th largest property/casualty insurer in
the United States based on total
lines net premium written. The Group, rated A+ (Superior) by A.M.
Best Company, has more than 5 million policies in force and
operates in 12 states and the District of
Columbia. Erie Insurance Group is a FORTUNE 500 company.
News releases and more information about Erie Insurance Group
are available at www.erieinsurance.com.
(ERIE-G)
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SOURCE Erie Insurance