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Cleveland: AmTrust Financial to create 800 jobs

2:07 PM, Dec 6, 2011   |    comments
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CLEVELAND -- AmTrust Financial Services plans to create up to 800 jobs in downtown Cleveland with the help of $23 million in government incentives.

The plans depend on various governmental approvals over the next few months.

AmTrust Financial's expanded operations office would be at  800 Superior Avenue.  An affiliate of AmTrust bought the largely vacant office building for a bargain price earlier this year.

AmTrust has more than 245 workers in a hub office in Seven Hills.

The State of Ohio will kick in $11.4 million in job creation tax credits and $5 million in loans.

Cuyahoga County is offering $3 million in loans from a newly-created economic development fund.

Cleveland is providing a $1.4 million grant and tax increment financing which will not tap any of the Cleveland Public Schools portion of property taxes.

One-half of the payroll tax from those workers who relocate to Cleveland will  be rebated to the city of Seven Hills for 5 years.

AmTrust CEO Barry Zyskind said, "We're eager to build upon our existing inviestments in Northeast Ohio and excited to be part of the urban renaissance in Downtown Cleveland.

Governor John Kasich said, "When an industry leader like Amtrust adds hundreds of jobs here, it's another indication that Ohio is doing what it takes to get back on track. Creating a job-friendly climate is Ohio's number-one priority."

Mayor Frank Jackson said, "This is game-changing for the local economy and fowntown Cleveland...It's rare anywhere in the country to create hundreds of new jobs in one fell swoop."

Cuyahoga County Executive Ed FitzGerald, "In order to make a sizable investment in a community, business leaders need to believe in that community's future. AmTrust's decision sends a positive message about the private sector's faith in Northeast Ohio and our local workforce."

AmTrust will spent at $20 million to upgrade the 23-story building that opened in 1969.

Most of the new jobs will be customer service, IT programming an underwriting.

AmTrust Financial is not connected with the former AmTrust Bank or Ohio Savings Bank, both owned by New York Community Bank.

Prospective applicants should check traditional job and career posting sites and AmTrust's website for career information. It's www.amtrustgroup.com

WKYC-TV

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