September 12, 2013
Zurich North America takes first steps toward move to new headquarters
Schaumburg, Ill., Sept. 12, 2013 – Zurich North America announced today it has signed a letter of intent with Motorola Solutions to purchase land for a new North American headquarters in Schaumburg at Meacham Road and I-90, relocating from its current offices on American Lane by the fall of 2016. Zurich is now working to select a team to develop its world-class North American headquarters. The company estimates the project will create as many as 700 construction jobs.
“Our decision to remain in Schaumburg for Zurich’s North American headquarters reflects our commitment to providing the best possible working environment for our employees as well as our long relationship with the community and our recognition of the new site’s impressive potential. We look forward to continuing to be an active part of this community and the broader Chicago area which has been home to our U.S. headquarters for more than 100 years,” said Mike Foley, CEO of Zurich North America Commercial. “I especially want to thank Governor Quinn and the Department of Commerce and Economic Opportunity as well as Schaumburg Village President Al Larson and the Village Board for working so closely with us to keep our headquarters and people in Schaumburg and Illinois.”
“Zurich’s decision to invest in a new state-of-the-art facility for its North American headquarters is another signal that Illinois means business,” said Illinois Governor Pat Quinn. “With our diverse economy, our pool of highly skilled workers, and our world-class transportation infrastructure, Illinois has what it takes for businesses to grow and thrive. We are glad Zurich is choosing to invest in Illinois and look forward to more global corporations making Illinois their home.”
"Zurich’s investment in Illinois means jobs and growth for the Illinois economy," said Adam Pollet, director of the Illinois Department of Commerce and Economic Opportunity. "Illinois is a magnet for corporate headquarters with our skilled workforce, central location and innovation hubs. We are working hard to bring more headquarters operations to Illinois and to help existing headquarters expand as these offices create and sustain good paying jobs for our state."
“Motorola Solutions is pleased to welcome Zurich as our new neighbor,” said Greg Brown, chairman and CEO, Motorola Solutions. “We remain committed to keeping our global headquarters in Schaumburg and are pleased to put this valuable space on our campus back into productive use in a way that adds value to the community.”
The property will be located in a portion of the proposed North Schaumburg Tax Increment Financing (TIF) District. The TIF District is being pursued by the Village of Schaumburg to enhance the economic vitality of the area. Zurich will work with the Village of Schaumburg to obtain financial assistance under this TIF.
“Schaumburg has been the home of Zurich’s North American headquarters for more than 30 years,” said Village President Al Larson. “We are pleased that Zurich has chosen to remain a corporate citizen of Schaumburg for years to come and look forward to working with the company on this exciting project. We believe it affirms Schaumburg’s status as the place for business and will stimulate additional redevelopment in the area.”
“We look forward to working with our neighbors at Motorola Solutions and with the Village of Schaumburg to help reinvigorate the community and provide economic benefit to the businesses in the area,” said Foley.
Zurich currently employs approximately 2,500 people in Schaumburg and also has an office in downtown Chicago. The company recently announced it is relocating its Chicago office within the Loop to a greener, more collaborative work environment. Zurich employs about 60,000 people worldwide serving customers in more than 170 countries.
According to a recent University of Illinois economic study, Zurich generates nearly $1.3 billion in economic impact annually in Illinois. For each job at Zurich, an additional 1.7 jobs are generated throughout the economy in Illinois. For every dollar paid in wages and salaries, Zurich generates an additional $1.23 in the local economy.
Motorola Solutions currently employs about 4,400 at its global headquarters in Schaumburg and also has offices in downtown Chicago. The company’s global workforce includes 22,000 employees located in 65 countries.
Zurich Insurance Group (Zurich) is a leading multi-line insurance provider with a global network of subsidiaries and offices in Europe, North America, Latin America, Asia-Pacific and the Middle East as well as other markets. It offers a wide range of general insurance and life insurance products and services for individuals, small businesses, mid-sized and large companies as well as multinational corporations. Zurich employs about 60,000 people serving customers in more than 170 countries. The Group, formerly known as Zurich Financial Services Group, is headquartered in Zurich, Switzerland, where it was founded in 1872. The holding company, Zurich Insurance Group Ltd (ZURN), is listed on the SIX Swiss Exchange and has a level I American Depositary Receipt program which is traded over-the-counter on OTCQX. Further information about Zurich is available at www.zurich.com.
In North America, Zurich is a leading commercial property-casualty insurance provider serving the global corporate, large corporate, middle market, specialties and programs sectors. Life insurance offered in the United States is issued by Zurich American Life Insurance Company, an Illinois domestic life insurance company. For more information about the products and services it offers and people Zurich employs around the world, go to http://www.zurichna.com/zna/aboutzurich/zna-home.htm.
About Motorola Solutions
Motorola Solutions is a leading provider of mission-critical communication solutions and services for enterprise and government customers. Through leading-edge innovation and communications technology, it is a global leader that enables its customers to be their best in the moments that matter. Motorola Solutions trades on the New York Stock Exchange under the ticker “MSI.” To learn more, visit www.motorolasolutions.com. For ongoing news, please visit our newsroom .