RICHFIELD, Ohio, Aug. 31, 2016 (GLOBE NEWSWIRE) -- Illustrating its vibrancy and growth, National Interstate Insurance Company, a subsidiary of National Interstate Corporation, announced that it is expanding its presence at its Richfield, Ohio headquarters campus by constructing a 117,000 square-foot office building at a total investment of approximately $25 million. National Interstate has experienced significant growth since its inception and this new building will allow the company to continue to expand in Northeast Ohio, including the addition of 200 plus jobs over the next several years. The Company currently employs over 500 employees at its Richfield headquarters. Construction is expected to commence in the fourth quarter of this year with completion in late 2017.
“We are very excited to announce the construction of this new building,” said Tony J. Mercurio, President & Chief Executive Officer of National Interstate Corporation. “With our significant growth over the past several years, we need to continue to hire talented employees and that creates a need for additional office space. The construction of this third building at our headquarters location demonstrates our commitment to Richfield and Northeast Ohio as well as our dedication to being an employer of choice in the region. When completed, our picturesque and convenient campus will accommodate approximately 1,000 employees. We take pride in providing our employees with a high quality work environment which will be further enhanced by this project.”
Recognizing the importance of the local community, National Interstate is partnering with and has the support of both the Village of Richfield and the Revere School District on this exciting expansion project.
“What a great opportunity to have National Interstate continue to invest in the Village. National Interstate has been a Richfield resident for over fifteen years and we’re excited to continue this relationship for years to come,” said Richfield Mayor Bobbie Beshara. “We understand the importance of keeping the company in the Richfield community and, as we do with all residents, we want to help provide opportunities for them to thrive.”
Matthew Montgomery, Superintendent, Revere School District, added “Not only has National Interstate already created numerous quality jobs in Richfield and the Northeast Ohio region, they also value the importance of providing top-notch educational opportunities to our district. We look forward to partnering with National Interstate in the future, including offering educational programs such as internships to our students.”
In addition to local partnerships, National Interstate is collaborating with JobsOhio, a non-profit organization designed to drive job creation and new capital investment throughout Ohio. Together National Interstate and JobsOhio plan to help increase job creation and employee development.
“We are pleased to work with National Interstate to expand their business and assist them in job creation and development of its employees. This project is a good example of how Ohio’s competitive advantages and its strong economic development network combine to help companies grow and prosper,” said Stephanie Mercado, Senior Director, JobsOhio Regional Office.
About National Interstate
An Insurance Experience Built Around You
National Interstate Insurance Company, a wholly owned subsidiary of National Interstate Corporation, is a specialty property and casualty insurance company with a niche orientation and focus on the transportation industry. We differentiate ourselves by offering insurance products and services designed to meet the unique needs of targeted insurance buyers. Products include insurance for passenger, moving and storage, and truck transportation companies, alternative risk transfer, or captive, insurance programs for commercial risks, specialty personal lines consisting of insurance products focused primarily on recreational vehicle owners, and transportation and general commercial insurance in Hawaii and Alaska. National Interstate and its insurance subsidiaries, which include Vanliner Insurance Company and Triumphe Casualty Company, are rated “A” (Excellent) by A.M. Best Company. Founded in 1989, we are headquartered in Richfield, Ohio with operations in Kapolei, Hawaii, and Fenton, Missouri.
Media Contact: Gary Monda Vice President & Chief Investment Officer National Interstate Corporation 877-837-0339 investorrelations@nationalinterstate.com www.natl.com
