November 21, 2024 10:56 am
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Phoenix approves new economic development incentive for Farmers Insurance’s 900-job expansion

By Mike Sunnucks | Rose Law Group Reporter

The Phoenix City Council has approved an additional $250,000 economic development incentive for Farmers Insurance.

Farmers is looking to expand its north Phoenix operations center and add more than 900 jobs.

The insurance company is already receiving a $500,000 incentive from the Phoenix for the center off Interstate 17 near Happy Valley Road.

Farmers is expanding that center by 150,000 square feet and will add 943 jobs between 2019 and 2023.

The new 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 Phoenix over 10 years, according to the city.

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