Business
Shapiro Administration Celebrates Grand Opening of New Chubb Office Tower in Center City Philadelphia
The $380 million investment by the leading insurance company will serve as a workplace for nearly 3,000 employees. Under Governor Josh Shapiro’s leadership,
About this update from Chubb Limited
[{"type":"text","content":" The $380 million investment by the leading insurance company will serve as a workplace for nearly 3,000 employees. Under Governor Josh Shapiro’s leadership, Pennsylvania’s economy is one of the strongest in the nation ― and is the only state in the Northeast with a growing economy. Philadelphia, PA – Today, Department of Community and Economic Development (DCED) Secretary Rick Siger helped worldwide insurance leader Chubb open its new office tower in Philadelphia. The facility marks one of the largest private investments in Center City in recent years. The 18-floor, 438,000-square-foot building represents a $380 million investment by Chubb and will serve as a workplace for nearly 3,000 employees. This new facility underscores Chubb’s long ties to Philadelphia ― its oldest subsidiary, the Insurance Company of North America, was founded in 1792 near Independence Hall as the nation’s first stock insurance company. “Chubb’s new office tower is more than just a major investment in Philadelphia — it’s a powerful vote of confidence in Pennsylvania’s future,” said Governor Shapiro. “This $380 million project is creating opportunity, supporting thousands of workers, and helping strengthen one of the most important business corridors in the nation. My Administration is committed to making Pennsylvania the best place to live, work, and grow a business, and investments like this show that our strategy is delivering results for communities across the Commonwealth.” The new building’s construction phase, which began in February 2023, also supported hundreds of jobs from local trade unions. “Today’s celebration is an exciting milestone for Chubb, the City of Philadelphia, and the entire Commonwealth,” said Secretary Siger. “Chubb’s major investment in Philadelphia further strengthens the City’s dynamic economy. It also underscores Pennsylvania’s exceptional workforce, competitive business environment, and everything we have to offer to growing companies here in the Commonwealth.” Chubb is a world leader in insurance. With operations in 54 countries and territories, Chubb provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance to a diverse group of clients. Parent company Chubb Limited is listed on the New York Stock Exchange (NYSE: CB) and is a compo...