Boston-based Liberty Mutual, which is reportedly looking at building a new hub for 4,000 employees in Texas, says it has no plans to relocate its Bay State staffers.
News outlets in Texas began reporting last week that the insurance giant has its sights set on building a large office complex in Plano, the same Dallas metro area where Toyota recently moved its headquarters and State Farm built an office campus. The Dallas Morning News reported Liberty Mutual's Plano development would "consolidate operations from multiple locations."
But the insurance giant yesterday denied that it's moving its local staffers elsewhere.
"Boston is where we began over 100 years ago and today is headquarters for our operations in 30 countries around the world," spokesman John Cusolito said. "We are pleased to call Boston our home and will continue to grow our workforce in the city and throughout the commonwealth."
Liberty Mutual expanded its home office campus in the Back Bay two years ago by adding a new 22-story, $300 million office buil-ding. The company has multimillion-dollar tax credit agreements in place with both the state and city to maintain a certain number of jobs here.
In 2010, the state granted Liberty Mutual a $22.5 million investment tax credit in exchange for expanding its Massachusetts workforce from 2,438 to 3,038 employees. And the city gave the company a $24 million tax break in exchange for a commitment to create at least 600 new jobs over 20 years.
Greg Biggs, managing director of prominent Texas commercial real estate firm JLL, told the Herald, "The market rumor is that they are looking to put a large commitment here. It's a very entrepreneurial environment and community here. Businesses come here and they feel like they're wanted by the community and by the municipalities."
Liberty Mutual has more than 5,100 employees in Massachusetts, with 2,500 in its Boston offices. The company employs more than 45,000 people in more than 900 offices worldwide.
"As a Fortune 100 company, Liberty routinely reviews our office locations and operations to ensure that we are best positioned to meet the needs of our customers and our employees," Cusolito said.
A spokeswoman for Mayor Martin J. Walsh said he hasn't heard Liberty Mutual is downsizing in Boston and "would be shocked if that were the case."
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