Schenectady, N.Y., December 5, 2006 — Metroplex today announced that Security American Financial Enterprises (SAFE), headquartered in Minnesota, will lease 5,000 square feet of office space in Schenectady County moving 20 jobs to the heart of downtown with the potential for further growth in the years ahead.
Security American Financial Enterprises and its affiliated companies recently celebrated 50 years in business. SAFE, through its life insurance company offers life insurance, group dental and group vision insurance products in 42 states and the District of Columbia. The new Schenectady County location will provide customer service, premium administration, and claims administration for approximately 40,000 customers.
SAFE recently acquired part of JLT Services formerly known as Jardine Insurance Brokerage. The company selected downtown Schenectady over competing sites for the new administrative offices.
Susan E. Savage, Chair of the Schenectady County Legislature said, “We welcome this leading national insurance company to our community. The new building they will occupy is the 32nd commercial building we have added to the tax rolls in just the past three years as part of our unified economic development effort. This success is helping Schenectady County hold the line on taxes.”
Schenectady Mayor Brian U. Stratton said, “We welcome this new company and these new jobs to our fast growing downtown. We are creating a vibrant mix of business and entertainment in heart of Schenectady creating new jobs and new tax base with every project we announce.”
Colleen Sherin from Security American Financial Enterprises said, “We received outstanding cooperation from the economic development team in Schenectady County led by Metroplex. SAFE is a leading insurance firm and we are excited about basing our administrative offices in downtown Schenectady.”
The company will occupy space in a new building being built on Clinton Street Extension, located one block form Broadway, the major entry way to downtown Schenectady. A new two story 10,000 square foot office building is currently under construction at this site. SAFE will lease the first floor of the new building. The new building is just a short walk from Proctors, the new cinema/office complex and other downtown attractions.
The new office complex is part of Broadway Commerce Park, an in-city business park being developed by Highbridge Development.
John Roth, President of Highbridge Development said, “This is a great accomplishment for Schenectady to attract a successful professional company like SAFE. The working relationship between City, County, Metroplex and the private sector continues to attract businesses to the revitalization efforts in Schenectady.”
The company plans to take occupancy in March of 2007.
Ray Gillen, Metroplex Chair said, “We welcome this company to Schenectady County. We are filling new office buildings as fast as we build them. This is another positive step forward.”
The company will receive $63,000 in relocation assistance from Metroplex termed over the first five years of occupancy. The company is also eligible to apply for Empire Zone and Federal Renewal Community benefits.