State News
6:58 am
Tue December 24, 2013

New company expected to come to Bloomington-Normal

The expected drop in employment at State Farm Insurance is apparently attracting a new company that hopes to take on some of those workers.

State Farm will reduce its Bloomington Normal workforce by several thousand people over the next few years as it proceeds with repositioning. These were temporary jobs brought in for the insurance company's new strategic work.

Bloomington Mayor Tari Renner says not all of those workers may want to leave the twin cities.

"We have a deal that has been worked out with a company. I can't talk about the details of it yet who is going to come to Bloomington Normal to try us out, partly because they know that there is a talent pool here that may want to stay in the area. And they will be relocating. In the short run it will be like about 50 people and they may expand to several hundred."

Renner says the jobs are likely to be in the Information Technology sector. The drop in employment by State Farm could be about 4% of the area workforce.

Both Renner and Mayor Chris Koos say the sales tax revenue reductions attributable to an exit of that number of worker is possible to plan for without major problems in city operations.