Keystone Today

The Commonwealth of Pennsylvania, the city of Philadelphia and the world’s largest publicly traded property and casualty insurance company, Chubb, are investing the construction of a new location that will create at least 1,250 full-time jobs.

“We are thrilled to have a world-renowned company like Chubb select Philadelphia for its largest office in North America,” said Gov. Wolf in a December 16 release by his office. “This project is a fitting culmination of all that the Governor’s Action Team has done during my administration to help businesses expand and relocate in Pennsylvania.”

The state will be investing $13.3 million that includes a $10 million funding proposal from the Department of Community and Economic Development and a $3.3 million Pennsylvania First grant. The city of Philadelphia and state combined to spend $21,589,000 on the project, and Chubb invested $82 million. This will be the largest office in the North America and will also be the home of a new technology center. It is expected to be completed 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.”

Mayor Jim Kenney was pleased that the company has decided to set up in Philadelphia, showing that the city is an ideal place for a large business of this caliber.

“I want to thank the Department of Commerce’s Business Development team for leading this effort on behalf of the City, solidifying Philadelphia as a great place to work, live and play.” said Mayor Kenney. “Chubb’s decision to invest in Philadelphia demonstrates that our unique combination of affordability, cultural amenities, and talented and diverse workforce make us a top choice for innovative and collaborative companies. We thank them for their investment in and commitment to our great city.”

The project was funded through the Governor’s Action Team, which has helped complete 430 projects and create and retain 194,000 jobs through $17.8 billion in funds.

“Anytime DCED and the Governor’s Action Team can bring a new project to Pennsylvania, it’s a big deal,” said 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.”