An insurance company has a major growth plan in the works for its Henrico County operations that would nearly quadruple its current headcount over the next three years.
Elephant Auto Insurance, along with Gov. Terry McAuliffe’s office, announced on Tuesday the company’s intentions to add 1,173 jobs at its local headquarters at 9950 Mayland Drive.
Elephant spokeswoman Louisa Scadden said the jobs would be filled over a period of three years and will include positions in its marketing, pricing, claims, IT and operations departments.
Elephant currently has 398 employees in the area. Scadden said the new jobs will be added as needed. The company currently has 38 positions open, Scadden said.
Tuesday’s announcement also stated that Elephant would invest $2 million to expand its headquarters here. The company would not comment on the specifics of how the $2 million would be spent.
Elephant, which sells policies in Virginia, North Carolina, Illinois and Texas, is the U.S. subsidiary of U.K.-based Admiral Group. Elephant set up shop in the U.S. in 2009 with its headquarters near Innsbrook. It relocated and expanded last year when it leased about 56,000 square feet in Deep Run I, on the former Circuit City headquarters campus.
The Virginia Economic Development Partnership, the Henrico County Economic Development Authority and the Greater Richmond Partnership were involved in the process of enticing Elephant to expand in the area.
VEDP spokeswoman Suzanne Clark said Elephant will be eligible for state incentives from the Virginia Jobs Investment Program that will reimburse the company $800 for every employee it adds over the course of this three-year plan. The company must show proof of the hires and will then be reimbursed 90 days after the job is created.
Admiral Group is also a part owner of locally-based Compare.com, an auto insurance aggregation site.