A worldwide insurance firm is set to arrive in York creating hundreds of new jobs.
The arrival of Hiscox, a specialist major insurance firm will bring 300 new jobs, and will expand to 500 staff in time when it is built on Hungate. It will be the biggest arrival of a financial firm since CPP created 750 jobs when it came to Holgate Road back in 1999.
The sale of the site to the developer, will be considered by the City of York Council in October will also include the development of an £18 million 262 bedroom hotel on the site that will create a further 100 jobs.
Hiscox will take temporary office space in February 2013 and will move into their new office on the Hungate site next to the Black Swan Inn in Autumn 2014.
A spokesperson from Hiscox gave an update this afternoon about the companies aims in the city.
They said “We have strong plans to employ 300 additional staff in York, on top of around 60 relocated staff.
“Hiscox is a succesful growing business, with an unsurpassed reputation for quality. We offer clients excellent products backed up by great service and a strong brand.
“There are still plenty of business owners and home owners out there that we’d love to insure, and who’d benefit from greater peace of mind”.
Katie Stewart, the head of Economic Development at the City of York Council said that the arrival of Hiscox had been thought from a local perspective over a long period of time. She said: “The opportunities that will be made available will be the kind that we want to bring to the city, particularly the range of jobs.
“Our pre-planning team and the key is not to detract from the traditional look of the city.
“The business rates will be brought back into the local economy at a time when there is a lack of confidence in the general economic climate.
“There are pressures on the city centre, but it has the potential to generate additional investment.
“We started in October last year in bringing Hiscox to the city and it’s been a long process. We are taking a report to the council for the sale of the Hungate site.”
To put the new jobs into perspective, Hiscox would employ as estimated 300-500 people in the city in comparison to Aviva’s 3000 York-based employees and the 1,000 who worked at CPP locally.
People involved in the move have spoken about their delight in the news.
Steve Langan, Managing Director for Hiscox UK said: ”We are delighted and excited about our new office development in York. This is a significant investment for us, which will see 300 professional jobs come to the city. We looked throughout the UK for a new location, but were swayed by York’s unique combination of excellent infrastructure, well educated workforce and quality of life.”
Cllr James Alexander, Leader of City of Council said: “With the city’s ambition to become a world class destination for business and visitors alike, the investment signals a significant further step towards this ambition. It is potentially a pivotal moment in the development of the city centre’s future as a truly diverse and more resilient economy. The investment sends a clear message that the city is open for business.
“Bringing new businesses to the city of York has always been top of my agenda. From the very first conversation about Hiscox coming to York we have worked hard to support the Hiscox team in making this a reality. This is a great example of how City of York council can work with partners and private companies to direct investment into the city, create more jobs and ultimately boost the city’s economy.”
Kersten England, Chief Executive of City of York Council said: “Hiscox’s decision to invest in York demonstrates the city’s offer of a high quality business environment. York also has an unparalleled quality of life and is consistently voted one of the top places to live in the country.
“City of York Council has worked with Hiscox to understand their culture, ethos and requirements and demonstrated the qualities York has to offer including a strong resilient economy, a creative city and a competitive destination for business.
“We look forward to continuing to work with Hiscox to assist with their move to York by offering support in sustainable travel planning, pre-move visits and the planning process, where required.”
Ann Scott, Managing Director of S Harrison Group said: “This is a fantastic opportunity to create new jobs for York and to attract a new brand-leading business to the city.
“We’ve worked closely with the council as our plans have developed and we’ve had a very positive response from all quarters. Everyone can see the appeal of creating new jobs in the city centre and our track record of delivering quality developments in York will give the confidence that, with support from the council, we will bring the new jobs the city needs.”