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Area Development - Site Selection, Facility Planning and Workforce Development

Chubb Plans Philadelphia, Pennsylvania, Operations Center

12/23/2022
Chubb, the world’s largest publicly traded property and casualty insurance company, will establish an operations center in Philadelphia, Pennsylvania. The $82 million project is expected to create 1,250 jobs.

The company is signing a long-term lease for newly constructed office space located at 2000 Arch Street in Center City, which will be Chubb’s largest office in North America and the site of a new technology center. Construction is scheduled for completion in 2026.

“Chubb is a dynamic and growing company that is proud to put a new stake in the ground in Philadelphia, a city that has been part of our history and success since 1792. We believe in this city, its people and the opportunity it provides,” said John Keogh, President and Chief Operating Officer, Chubb. “Our expanded presence here will bring economic benefits to the city and Commonwealth, including new jobs, apprenticeship opportunities, and stimulating broader economic activity. The strong support Chubb is receiving from Governor Wolf, Mayor Kenney, City Council President Clarke City, and our development partner are testament to the sense of community that continues to make Philadelphia a great place to do business.”

Chubb received a funding proposal from the Pennsylvania Department of Community and Economic Development (DCED) for a $10 million Redevelopment Assistance Capital Program (RACP) award and $3.3 million Pennsylvania First grant. In addition to the support from GAT, the company received a funding package from the City of Philadelphia. Combined with the state’s assistance, the total state/city package to the company is $21,589,000.

“Anytime DCED and the Governor’s Action Team can bring a new project to Pennsylvania, it’s a big deal,” noted DCED Acting Secretary Neil Weaver. “We are thrilled to have had a role in expanding the world’s largest publicly traded P&C insurance company’s presence in Philadelphia, along with the more than 3,200 jobs that will be created and retained through this project.”

Chubb is the world's largest publicly traded property and casualty insurer. With operations in 54 countries, the company provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance.

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