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November 6, 2007

FM Global plans new headquarters in Johnston

One of Rhode Island largest private employers said this afternoon that it wants to build a new, $60-million headquarters adjacent to its offices in Johnston.

Executives from commercial-property insurer FM Global expect this evening to present their proposal for a four-story building off Central Avenue to the city’s planning officials.

FM Global employs about 800 people at its current headquarters, located on more than 300 acres it owns off the intersection of Central and Atwood Avenues. The company built its headquarters there in 1973 and has since grown to become one of the world’s largest commercial-property insurers. The company employs 4,700 people worldwide and ranks 578 on Fortune magazine’s list of the country’s largest companies.

“We are seeking a new location that will be scalable and grow with our company in the future,” said Shivan S. Subramaniam, FM Global’s chairman and chief executive officer. “Renovating our existing headquarters doesn’t make economic sense so, accordingly, we are exploring all our options.

Saul Kaplan, an economic advisor to Governor Carcieri, applauded FM Global’s stated preference for building its new headquarters in Rhode Island

"The signs are good that they'll continue to be an important part of this landscape," Kaplan said during a speech in Providence.

-- Paul Grimaldi, Journal staff writer

Posted by Jack Perry  at 2:34 PM | Permalink

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