April 04, 2016
EL PASO LEADERS APPROVE LOCAL EXPANSION OF FRED LOYA INSURANCE OPERATIONS, CREATING 562 NEW JOBS
Expansion expected to have an economic impact of more than $29 million in wages and benefits
EL PASO, Texas – El Paso leaders today announced the final approval for rebates and incentives for the expansion of Fred Loya Insurance in El Paso, Texas. The expanded operations center will help provide support to more than 700 Fred Loya Insurance offices and over 3,700 employees throughout Texas, California, New Mexico, Colorado, Georgia, Nevada, Illinois, Arizona, Missouri, Indiana, Ohio, and Alabama.
“It’s important to the County that we support our community's already successful businesses as they expand their operations. We commend Fred Loya for continuing to invest in our workforce, our economy and the people of El Paso. Today’s announcement will help create quality jobs and marks a significant economic investment by a national company whose roots are in El Paso,” stated Judge Veronica Escobar, El Paso County.
In addition to the existing 176 employees at the El Paso operations center (over 700 total El Paso employees) of Fred Loya Insurance, the expansion will create 562 additional jobs with an average salary of $30,545. Fred Loya has committed to using as many local resources, materials, and labor as possible in the construction of their new facility, providing an additional economic boost to our City. The expansion is expected to have an economic impact of more than $29 million in wages and benefits.
"I want to commend everyone involved in the collaborative effort to expand Fred Loya’s operations in El Paso. Fred Loya will be creating quality jobs, and I want to thank them for expanding their operations in El Paso," said Mayor Oscar Leeser. "As Fred Loya continues to grow across the nation, we are proud they have chosen to keep calling El Paso ‘home.’"
“What started with a single storefront in El Paso, Texas, in 1974 has grown to be the 18th largest Hispanic top 500 owned and operated company in the United States. We're expanding because the need for our affordable auto insurance is growing, and we could not think of a better place to build than in the community that built us - El Paso,” said Sivi Contreras, Human Resources Director for Fred Loya Insurance. “El Paso is our home, and we thank the City for supporting us on our expansion.”
“Today, our leaders made it clear that they are committed to investing in thriving businesses already based in El Paso. The expansion is a sign that our economy is growing in the right direction, and Fred Loya is committed to doing their part to providing not just excellent service, but creating quality jobs,” said Rolando Pablos, Chief Executive Officer of The Borderplex Alliance. “As we work to draw new businesses to the North American Borderplex, today’s decision shows that our leadership is proactive in their approach to drawing investments in our community.”
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