VOL. 132 | NO. 37 | Tuesday, February 21, 2017
Sedgwick Announces $34M Expansion, Will Create 150 New Jobs
By Patrick Lantrip
Sedgwick Claims Management has announced plans to expand its corporate headquarters in Memphis, which will result in the creation of 150 local jobs.
Dave North, CEO of Sedgwick Claims Management, announces the expansion of the Memphis-based company's headquarters Monday, Feb. 20.
(Daily News/Patrick Lantrip)
The expansion will consolidate Sedgwick’s headquarters into a single campus in Shelby County and locate research and development functions to that site, according to Ted Townsend, chief operating officer for the Tennessee Department of Economic and Community Development.
“We always look to partner strategically with companies and focus on their long-term growth,” Townsend said. “So when a company like Sedgwick enters a cycle of growth, we want to be there each and every time to make sure that when they put capital at risk to create jobs, we’re there so serve them.”
Along with the 150 new jobs, Sedgwick announced it will invest $34 million into the local economy during the expansion.
“We’re grateful for Sedgwick choosing Memphis, but we’re especially grateful for their leadership in the community,” said Greater Memphis Chamber president and CEO Phil Trenary.
Sedgwick, which provides technology-enabled risk and benefits solutions to its customers through 15,000 employees in 275 offices globally, was valued at more than $2.4 billion in 2014, according to Trenary.
“Sedgwick has come a long way since its modest beginnings in 1969,” said Sedgwick president and CEO Dave North during the announcement. “Today we are the leading global provider of risk services on a worldwide basis, and we’ve been proud to call Memphis our headquarters for the past 19 years.”
North, a University of Memphis alumnus who was one of eight business leaders recently appointed by Tennessee Gov. Bill Haslam to serve on the university’s new governing board, took time to thank both mayors for creating a pro-business environment in West Tennessee.
“Sedgwick and Dave North know what I think a lot of people are finding out,” Memphis Mayor Jim Strickland said. “And that’s that Memphis is a great city to have your headquarters."
The company currently has emloyees in 170,000 square feet in two locations of the city. It plans to consolidate its headquarters into 213,000 square feet of office space in Southwind, but details won’t be revealed until later. Sedgwick is expected to apply for a payment-in-lieu-of-taxes (PILOT) incentive in connection with the expansion
Shelby County Mayor Mark Luttrell said that Sedgwick’s commitment to stay in Memphis is testament to the many amenities the city has to offer.
“It’s a good day when you can get a company to commit to your community,” Luttrell said. “It’s even a better day when you get a company to choose to stay here and expand the scope of their work.”
Townsend said that in addition to Sedgwick, the state of Tennessee has worked with a number of headquarters in the Memphis market since 2013, resulting to 2,500 jobs and $1.3 billion in capital investment.