28 September, 2012
The city of York’s economy will receive a significant boost as international specialist insurer Hiscox has confirmed its opening of a new UK office in the city which will bring 300 new jobs to York.
City of York Council has been working closely with Hiscox and York-based development business S Harrison Group to support the company’s move into the Council-owned Hungate site in the city centre. The sale of the site to the developer, which is being considered by full council in October, will allow for the development of an office complex for Hiscox and the development of an £18 million 262 bedroom hotel on the site, providing a further boost to the tourism economy and creating a further 100 jobs.
Hiscox plans to take temporary office space in February 2013 and will move into their new office on the Hungate site next to the Black Swan Inn in Autumn 2014 – initially with 120 staff, then recruiting to a total of 300 staff.
Hiscox’s move to York will strengthen the city’s position as a quality destination for business and contributes significantly to the resilience of the city centre economy.
The investment in the city centre enabled by the sale of the Hungate site would provide opportunities for both high skilled and lower skilled workers in the city. The higher skilled positions will provide opportunities for the city’s graduates that will further help the city to build on its natural assets. The investment would also provide a boost to the resilience of the city centre economy, through the creation of high value jobs in the centre which will create longer term benefits for the wider city centre retail and leisure offer.
The investment is expected to have an annual impact of £21.4m pa GVA impact by 2014 to the city through supply chain impacts. This is estimated to rise to £26.78m pa GVA impact by 2026.
Steve Langan, Managing Director for Hiscox UK said: "We are delighted and excited about our new office development in York. This is a significant investment for us, which will see 300 professional jobs come to the city. We looked throughout the UK for a new location, but were swayed by York's unique combination of excellent infrastructure, well educated workforce and quality of life."
Cllr James Alexander, Leader of City of Council said: “With the city’s ambition to become a world class destination for business and visitors alike, the investment signals a significant further step towards this ambition. It is potentially a pivotal moment in the development of the city centre’s future as a truly diverse and more resilient economy. The investment sends a clear message that the city is open for business.
“Bringing new businesses to the city of York has always been top of my agenda. From the very first conversation about Hiscox coming to York we have worked hard to support the Hiscox team in making this a reality. This is a great example of how City of York council can work with partners and private companies to direct investment into the city, create more jobs and ultimately boost the city’s economy.”
Kersten England, Chief Executive of City of York Council said: “Hiscox’s decision to invest in York demonstrates the city’s offer of a high quality business environment. York also has an unparalleled quality of life and is consistently voted one of the top places to live in the country.
“City of York Council has worked with Hiscox to understand their culture, ethos and requirements and demonstrated the qualities York has to offer including a strong resilient economy, a creative city and a competitive destination for business.
“We look forward to continuing to work with Hiscox to assist with their move to York by offering support in sustainable travel planning, pre-move visits and the planning process, where required.”
Ann Scott, Managing Director of S Harrison Group said: “This is a fantastic opportunity to create new jobs for York and to attract a new brand-leading business to the city. Hiscox are keen to establish a modern office presence on a central site in the city. The exciting proposed design would provide open plan offices on three floors as well as meeting rooms.
“We’ve worked closely with the council as our plans have developed and we’ve had a very positive response from all quarters. Everyone can see the appeal of creating new jobs in the city centre and our track record of delivering quality developments in York will give the confidence that, with support from the council, we will bring the new jobs the city needs.
“The creation of another quality brand hotel in the city will provide a further boost to York’s leisure economy. If we get an operator signed up and swift planning approval the new hotel would be completed for the 2015 season.”
Neil McLean, Chair of the Leeds City Region Local Enterprise Partnership said: “This is great news for York and great news for the Leeds City Region. We have the largest Financial and Business Services sector outside London, which means we have a fantastic talent pool available for companies like Hiscox considering investment decisions. I am delighted Hiscox have seen these strengths and decided to bring 300 more jobs to the City Region. I can assure them of a very warm welcome from all public and private sector partners here.”
Notes to editors
The York 800 programme marks the 800 years since the city was granted a Royal Charter by King John in 1212, allowing York to take charge of its own affairs by electing a council, creating the post of mayor, and giving its people a voice. A huge array of events throughout the year will give residents the chance to get involved in the celebrations.
The council’s five key priorities for 2011-2015 are:
- Create jobs and grow the economy
- Get York moving
- Build strong communities
- Protect vulnerable people
- Protect the environment
The leader of the council is Councillor James Alexander, with portfolio including Policy, Strategy & Partnerships and Economic Development & Regeneration on 07729 980229 / 07711 238741
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