Root Insurance plans move to Columbus Commons, add 463 jobs

Two-year-old Columbus-based Root Insurance Co. plans to move its headquarters to the 80 on the Commons mixed-use building in downtown Columbus this fall, as part of a move that will ultimately add 463 new jobs, Columbus Business First reports. The auto insurer “offers paperless signup and management of a policy through a mobile app,” selling policies online without agents; the app “also measures driving habits so only safe drivers can enroll,” according to the article. The city’s downtown office incentive “would pay the company as much as $2.4 million over five years — half of income tax withholding on new jobs — while generating the same amount of new taxes for the city in that span.” The agreement with Root calls for the company to retain 79 jobs and add the expected 463 new positions; estimated total new payroll is $47 million. For more, read the full article

Economic Development, Financial Incentives