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Nationwide moving thousands of jobs from the suburbs

 
Nationwide moving thousands of jobs from the suburbs
Posted Friday, June 27th 2014 @ 2pm  by WTVN Newsroom

COLUMBUS, Ohio (WTVN) -- Nationwide Insurance is moving 3,600 to the Arena District and Grandview Yard from offices in Dublin and Westerville.

The move will take place over time as current building leases run out.

The move means the company will have all of their more than 13,000 employees within a couple miles of each other.

"It's a huge shift of workers and a really big deal for a couple of these communities," said Doug Buchanan, managing editor of Columbus Business First, a news partner of NewsRadio 610 WTVN.

The move won't happen until 2016 at the earliest and will be done in phases as current building leases expire.

"It will happen over 4-years," said Buchanan.

The corporate campus in Grandview Yard will have to be built and will be at least 500,000 square feet. The current buildings and development on the site now is less than half that.

"That is definately going to spur other development," Buchanan.

The other advantage for Nationwide is that they already own the property so they won't have to lease office space any longer.

Grandview will be the biggest winner in terms of tax revenue with 3,000 workers moving in. Columbus will see revenue from the other 600 moving to the Arena District. On the other end, Dublin is losing a lot of tax revenue, but Buchanan doesn't see it being a major issue.

"Dublin has a very large corporate base already so yes, 3,400 workers is a lot, but they're going to be able to withstand that," he said.

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