The company known as the world’s largest insurance broker and risk advisor may expand its workforce central Iowa. Bryan Friedman, the community development director for Newton, made the announcement to the city council Monday.
Marsh now has about 50 workers at a Newton office and is considering an expansion project investing more than $5-million in Newton, adding at least 150 workers over the next three years. Friedman says Marsh Incorporated is asking the state for $450,000 in direct financial assistance.
The Iowa Department of Economic Development Board will consider that request at its meeting in Red Oak on Thursday. If the assistance is granted and Marsh decides to move ahead, the city would be required to match 20% of the state’s money.
Friedman says that amounts to $90,000. He says the city’s assistance would take the form of tax abatements or TIF property tax rebates over the course of five years. Frank Liebl, executive director of Newton Development Corporation, says the 150 jobs created could vary from accounting to marketing to call center positions. Liebl says the pay would be good, too.
Liebl says it’s reported the wage would be better than the county’s average which is just under $15 an hour. Another economic development proposal involving Walter G. Anderson Incorporated, which could create at least 60 new manufacturing jobs in Newton over the next four years, was to go before the Iowa Economic Development Board on Thursday. However, city leaders say that’s been delayed a month.
By Randy Van, KCOB, Newton