Gov. Rick Perry joined GEICO chairman and CEO Tony Nicely to announce the company will be expanding its Katy operations, creating 1,000 new jobs over the next three years and $8.5 million in capital investment.
"Whenever we hear about a major employer expanding or relocating to Texas, it affirms what we've been telling people all these years," Gov. Perry said. "When you create a place that rewards innovation and hard work and frees people to do best in pursuit of their dreams, good things happen. Like many cutting-edge companies, GEICO knows that Texas is a great destination for innovative companies looking to excel."
"We're excited about expanding our claims operations with our new Katy office," Nicely said. "We know from the experience we've already had in Houston that it's a great environment for business; the workforce is excellent, and the quality of life is outstanding. We look forward to bringing more wonderful career opportunities to the people of the Greater Houston area."
"It's great news when companies like GEICO grow and expand their operations in the Texas insurance marketplace," Texas Commissioner of Insurance Julia Rathgeber said. "Texas is the 12th largest insurance market in the world. We are consistently looking for ways to improve and make Texas a smarter regulatory environment with the goal of attracting more companies and more capital to Texas. A competitive market is good for the industry and good for consumers."
GEICO was founded in Fort Worth in 1936 to provide auto insurance to federal employees and members of the military. It currently serves over 830,000 Texas policyholders and is now the fastest-growing major auto insurer in the U.S., with more 29,000 employees in 14 major offices around the country. The company's southwest regional office is located in Dallas and employs more than 1,900 Texas residents. The Katy expansion will support GEICO claims operations.
Earlier, Gov. Perry traveled to College Station to present a $150,000 grant to Texas A&M University from Cognizant for science, technology, engineering and mathematics educational programs. The business and technology services company is also relocating its U.S. corporate headquarters to College Station, creating 750 jobs in the area.