Mutual Benefit Group Expanding in Pa. with Help of Development Funds

August 9, 2005

Mutual Benefit Group, a regional insurance company, is making a $4.9 million investment to expand its headquarters in Huntingdon, Pa., creating eight new jobs and retaining 199 current employees. The company is adding a 45,000-square-foot addition to its headquarters.

MBG plans to construct a four-story addition to its existing property along Fourth and Penn Streets. In 2004, the company purchased the former AEL Food Warehouse on Penn Street and will use the property to provide 143 additional parking spaces for employees.

State economic-development professionals who report to Governor Ed Rendell worked with the Huntingdon County Business and Industry on MBG’s nearly $5 million expansion project. The state has offered the company a financial package totaling $3.05 million that includes: a $2.25 million loan through the Pennsylvania Industrial Development Authority; $500,000 through the Enterprise Zone Competitive Program; $250,000 in Enterprise Zone Tax Credits; and a $50,000 Opportunity Grant.

Mutual Benefit Group is a multi-line property/casualty insurance company providing coverage for auto, home and business to nearly 77,000 policyholders. The firm markets its insurance products through nearly 250 independent insurance agents.

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