Indy-based insurer will move to Carmel
By Brittany Muncy
INDIANAPOLIS – Insurance company Baldwin & Lyons announced Monday it will move its headquarters from Indianapolis to Carmel.
The company plans to invest $20 to $30 million to purchase and improve a new facility that could create up to 133 new jobs in Indiana by 2018.
Joe Devito, president and chief executive officer of Baldwin & Lyons, said in a statement, “As we very carefully reviewed our options related to a new headquarters, we continued to remain extremely proud of out Hoosier heritage.”
Baldwin & Lyons has been in Indianapolis since 1930 when it was founded. The company specializes in property and casualty insurance products and in 2012 set records as a company for both revenue and profit.
The Indiana Economic Development Corporation offered the company $3.5 million in conditional tax credits and $200,000 in training grants, which are payable only if jobs are created.
The company plans to hire new insurance professionals by the end of the year, which will add to the 350 Hoosiers that Baldwin & Lyons already employs.
Brittany Muncy is a reporter for TheStatehouseFile.com, a news website powered by Franklin College journalism students.