The company, a subsidiary of GEICO, will sell homeowners, renters, boat and other types of insurance coverage. GEICO will invest $2.4 million in the expansion, creating an estimated 300 new jobs over three years and laying the foundation for future growth.
To support the company’s efforts, GEICO will receive an estimated value of $1.5 million in Empire Zone tax credits over the next five years from Empire State Development. Further, the company will receive sales tax exemption on equipment purchases from the Amherst Industrial Development Agency and an extension of low-cost power to 2013 from the New York Power Authority for the company’s Amherst facility. Additionally, the Erie and Niagara County Workforce Investment Boards will provide GEICO with workforce training assistance, as well as connect available workforce with the company.