What State Farm is doing to Tacoma

A reader found these stories:

http://www.thenewstribune.com/news/business/article194506349.html

State Farm employees were reeling Friday from the shock of Thursday’s announcement that the company plans to shutter its Tacoma operations by the end of this year.

Potentially 800 people could be out of work of the 1,400 people in the company’s two downtown Tacoma offices. Workers will have to reapply for about 600 jobs in DuPont, 250 jobs Bloomington, Illinois and 150 jobs in Phoenix.

“Other companies in the region are hiring. Insurance giant Allstate plans to hire 600 in the Northwest, including 200 in Washington state alone.”
“Down the street at The Office Bar & Grill, owner Travis Scheff said, “Here we go again” with yet another company moving out of downtown Tacoma.”
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I saw a comment on Facebook asking is people really want to move to Bloomington.  For the corn fields?  To live in bankrupt high tax Illinois?

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http://www.thenewstribune.com/news/business/article194255939.html

“Those are good jobs and it’s going to be a huge blow to the economy, to the county,” said Denise Dyer, director for the Pierce County office of Economic Development. “I’m thrilled that 600 of them are going to be located to DuPont, but that leaves another 800 folks that will be looking for work.”

“The Economic Development Board listed State Farm as Pierce County’s third-largest private company in 2017. That ranking won’t change this year since it still will have 1,600 employees in DuPont. ”

State Farm is leaving Tacoma, Sarkissian said, to gain “efficiency through streamlining and improving processes, adapting to the changing needs of customers and optimizing available space in current facilities” among other factors.

When State Farm first came to Tacoma , officials were cautiously optimistic what the future held for the city and the company.

In 2013, Mike Hickey of Neil Walter Co., the Tacoma brokerage and management firm that negotiated on behalf of Columbia Bank Center, noted:

“Investors will take note of the decision, but they’ll study it,” he said. “The decision is significant. We need to see how they become involved in our community.

“Are they invested? Or are they just visiting?”

 

16 thoughts on “What State Farm is doing to Tacoma

  1. There is nothing to worry about BN residents. Everything is just fine. Yes, even legacy insurance companies are dividing up our market share along with the InsurTech folks like Lemonade. Its a party and State Farm is on the menu!

    “Take that, State Farm.
    Allstate plans to hire 600 people in its Northwest U.S. region and 200 in Washington state.

    State Farm announced job cuts and relocations Thursday related to the company’s decision to close down its operations in downtown Tacoma.

    “We’re actually going the other direction,” Frank Clauser, a media representative for Allstate, told The News Tribune on Friday.”

    http://www.thenewstribune.com/news/business/article194473659.html

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  2. State Farm is running on borrowed time. Tari will be the last to know of course. “What me, worry?” I’m hearing a decline of 800,000 in auto policies, while Allstate and Geico numbers grow. Add to that, InsurTech mentioned by the previous poster, and things are not looking good for State Farm. Who in their right mind would leave Tacoma and Seattle (30 miles away) for Bloomington?

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    1. But we have our growing downtown core, a new bike path on Washington Street, great new signs that will soon be up, a well-behaved homeless population and lots of room at the new Renner Hotel & Conference Center! (Tari already has his eyes on the old State Farm building) People from Tacoma and Seattle will love this town…. I can just hear them now, “Are your potholes really big enough to ruin a rim on the first time you hit them? I can hardly wait to see that?”

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  3. “Like a good neighbor,,,State Farm is,,,there.” Haven’t heard that one in awhile have we? Not hard to figure out why they’ve seemingly abandoned that one.

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  4. Diane I am disappointed in you. Why do you always have to point out that our quality of life is better than everyone else’s. Now they’re going to come here in droves. Tell me, how in the hell are we supposed to get tickets to the arena, or the BCPA. Everyone now knows that we have the best of everything

    Liked by 1 person

  5. Flamingos pink flamingos once the residents of Tacoma find out what we have not just displaced State Farm employees but I bet many Tacoma residents will quit their jobs to move to Bloomington where pink flamingos have enhanced the quality of life

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  6. Tacoma has had to manage to the ebb and flow of the Fort Lewis, WA. military population for decades. They can handle this and I’m sure State Farm is being more accommodating than the federal government.

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  7. Lawrence. I REALLY would like to sit and have a drink with you sometime, as you just DON’T mince your words or thoughts! And as for Tari and crew thinking that SF is “rock solid” ALL I can say is Watch out for erosion , or the SAME elements that tear up OUR roads, as we’re ON a highway to hell!

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  8. How many floors does the downtown state farm building have? It should have enough space for a new library, government offices, & downtown hotel while using the underground parking garage for the bus transfer station!
    Problem solved……

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