By Mike Sunnucks | Rose Law Group Reporter
The city of Phoenix is considering increasing an economic development incentive for Farmers Insurance.
Farmers Insurance has an operations center off Interstate 17 near Happy Valley Road. The company want to expand its 150,000 square foot footprint there by another 150,000 square feet and add 943 jobs between 2019 and 2023.
The Phoenix City Council will consider at its meeting today a $250,000 economic development incentive for Farmers.
That amount would add to an existing $500,000 incentive Phoenix is already giving to Farmers for its footprint.
The additional jobs would have a payroll of $50 million per year once fully operational and the expansion will have a $12.5 million direct economic benefit for the city over 10 years, according to city documents.
