The company known as the world’s largest insurance broker and risk advisor has backed out of plans to expand its workforce in Newton. Newton Mayor Chaz Allen says Marsh, Incorporated had planned to add 150 employees.

“They’re going to shelf the plan to expand in Newton, which is disappointing, but obviously we want to continue to work with Marsh,” Allen said. “If they have any future expansion plans, we want them to do it here in Newton, Iowa.”

The jobs could have ranged from accounting to marketing to call center type positions. Marsh currently has about 50 employees in Newton and nearly 1,200 in the Des Moinea area. Allen says the company did not offer an explanation for the decision to table the expansion plans.

“Like any of the deals we put together…it’s really not a done deal until they put a key in the door and open the business,” Allen said. The expansion was valued at $5.3 million. Marsh had requested a $450,000 forgivable loan from the Iowa Economic Development Board for the project. The City of Newton would have also offered a $90,000 tax abatement.

By Randy Van, KCOB, Newton