Erié insurance workers celebrate a century of regular growth
ERIE Insurance serves customers in 12 states and in the Columbia district and employs more than 6,500 people in the offices of Erié and on the ground.
- ERIE Insurance, celebrating its 100th anniversary, has invested massively in its headquarters in Érié and the revitalization efforts of the city.
- The company has added 500 jobs to Érié since 2015, contrasting with an overall drop in the city’s employment.
- The CEO of Erie Insurance Tim Necastro highlights the importance of public-private partnerships and expresses concerns about the city’s financial challenges.
When I became president and chief executive officer of Erie Insurance almost nine years ago, something was clear to me: the management of our successful insurance operation was only part of the work.
The other part? Support and actively engage in the economic development and revitalization of our hometown of Érié, Pennsylvania.
The service is part of the DNA of our company since its foundation 100 years ago – and this includes not only service to our customers, agents and employees, but also to communities throughout our footprint at 12 states. This is particularly true here where it all started.
We believe that the Erié insurance – as the largest employer in the city and the only Fortune 500 company – is responsible for doing our part in the restoration of the city through many fronts.
Revitalization is also very personal for me. I grew up in the district of Little Italy of Erie, a graduate of the Cathedral Prep and the University Gannon, and my wife, Lisa, and I raised our family here. Almost a decade later, I am proud to say that the Erié insurance helped the city make significant progress in the state of its economy, its job, its real estate, its commercial environment and its global quality of life. The chairman of the board of directors of our company, Tom Hagen, has also personally invested tens of millions of dollars in revitalization, historical preservation and transformational philanthropy in the city. Tom cares deeply about this community and feels a personal responsibility in improving it in all possible ways.
We generally do not like to boast of everything we do for the community – a large part occurs quietly and behind the scenes. But, while our company celebrates its 100th anniversary this year, which we marked on April 20, we concentrate not only on the place where we have been, but where we are going – both our future and that of the city. We remain fully engaged in the city that we have called here for more than a century.
Let’s start with part of the growth of our business. ERIE Insurance employs nearly 7,000 people in a region that extends from North Carolina to New York in Wisconsin. About half, or 3,400, are based here in the county of Erie. Among these employees, nearly 2,700 are working on our downtown Erie campus, which has increased by nearly 500 jobs since 2015.
To put these figures in context, we added 500 new jobs during the same 10 -year period during which the overall employment of the city of Érié fell by more than 5%. Total employment in the city increased from 42,399 in January 2015 to 40,136 in December 2024, according to data on the employment of the city of Erie obtained from the ERIE regional chamber and the growth partnership. These data show that the city’s overall workforce – another important economic indicator – has also contracted 8%.
The growth in the workforce of our company has prompted us to extend our East campus footprint to Parade Street by buying and renovating the old Pennsylvania National Guard building, which opened in 2015. FW Hirt Perry Square Building to improve the visual attraction, energy efficiency, safety and accessibility of the building – guaranteeing that it continues to meet our needs.
In total, Erie Insurance has invested $ 400 million in our downtown campus since 2015.
The appointment of the city’s revitalization and improvement area (CRIZ) for the city should also return $ 15 million to dollars in taxes practically each year for the next 30 years to revitalization projects throughout the city. During his life, this program should produce more than half a billion dollars dedicated to inspiring a new life in our city and making major projects, adding jobs and stimulating the regional economy – making our city a dynamic and culturally rich place that people want to call at home or visit.
I was happy to work alongside state leaders and premises like senator Dan Laughlin and representatives of the Bob Merski and Pat Harkins state to obtain CRIZ approval through the finish line of our city.
In addition to making our city more attractive, the revitalization of destroyed and vacant properties serves as a catalyst for tangible economic development – creating jobs and attracting new businesses. It is for this reason that the Insurance has become the founding donor of the ERIE Downtown Development Corporation (EDDC) eight years ago, and I joined the organization as chairman of the board of directors.
Since then, with the support of local organizations and philanthropists, the EDDC has developed an investment of more than $ 115 million in downtown Erie, creating 25 new businesses, 104 new residential spaces (which are all occupied) and more than 250 new jobs.
The transformation that takes place in the city center is incredibly exciting, and I am proud that the insurance, could have played a role so active in the rebirth of the city.
Throughout this trip, what was the most crucial for our success are the coalitions that we have forged among the leaders of the private sector – philanthropy, education, bank, health care, manufacturing – and the public sector. We are fortunate to have excellent partnerships with entities such as EDDC, Infinite Erie, Criz Authority, Erie County Redevelopment Authority, Erie Régional Chamber and Growth Partnership, and the ERIE Community Foundation; And other companies and organizations such as the Plastek group, UPMC Hamot, Ahn St. Vincent, Gannon University and Penn State Behrend, to name just a few.
And although many has been accomplished, the work is far from over. We are committed to doing our part as a leader in the private sector, but, of course, I am very concerned about the budget of the city permanently structural deficits, requiring the use of ERIE water prepayment funds and the funds of the American rescue plan (ARPA). The city’s ability to resolve budgetary challenges is a crucial element of its success and we need strong and proactive leadership among the officials of the Town Hall to facilitate the revitalization of Erie.
Maintaining and partnerships and growing coalitions are essential to the future success of our city. Erie, Pennsylvania, speaking in one voice was the key to establishing solid relationships with state officials and federal and gaining confidence in our ability to complete the work to come. I hope that we can include a fiscally solid town hall with strong visionary leadership in our coalitions in the future.
We are at a pivot – and exciting – in our city. Being engaged in this work is a responsibility that I take seriously and Erié insurance is entirely dedicated to this city. This is also highlighted by the announcement that we made last week, by establishing the ERIE Insurance Foundation and by funding it with an allocation of $ 100 million for philanthropy and community investment for future generations.
We have proudly called the names for a century, and we are delighted with what awaits us for our company and our city over the next 100 years.
Tim Necastro has been president and chief executive officer of Erie Insurance since 2016.
