Lansing, Mich.-based Accident Fund Insurance Company of America, announced Monday it will establish its new national corporate headquarters in the Lansing Board of Water & Light’s Ottawa Street Station power plant. The plan is part of a redevelopment agreement reached with the city and state.
The agreement, signals the start of a historic partnership process requiring the supportive efforts of local and state agencies as parties move forward to make this transformation a reality.
The announcement was made this morning by Accident Fund together with Blue Cross Blue Shield of Michigan, as well as many state and local officials who gathered for a panoramic view of the site along the banks of the Grand River. The redevelopment will be the largest adaptive reuse of a historic power plant in the state.
Accident Fund said it expects to create up to 500 new jobs for Lansing and Michigan, bringing its total workforce to 1,200. The new jobs will be created to accommodate the company’s planned strategic growth over the next several years. Accident Fund determined it would outgrow its two present Lansing facilities by 2011, requiring a search for new national headquarters.
The Ottawa Street Station power plant is presently owned by the Lansing Board of Water & Light. A redevelopment agreement was signed by Accident Fund, BWL and the City of Lansing. Accident Fund is working with The Christman Company of Lansing as the developer.
The project is still in a developmental phase, and other details remain to be worked out. The seven-acre project site stretches north from Ottawa Street to Shiawassee Street between Grand Avenue and the Grand River. Planning is underway and the projected start date for the project is fall 2008, with completion slated for early 2011.
Headquartered in Lansing, Michigan, Accident Fund identifies itself as one of the nation’s leading workers’ compensation insurers, operating in 43 states and the District of Columbia.
Blue Cross Blue Shield of Michigan, a nonprofit organization, provides and administers health benefits to more than 4.6 million members residing in Michigan in addition to members of Michigan-headquartered groups who reside outside the state.
Source: Blue Cross and Blue Shield of Michigan, Accident Fund
Topics Michigan
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