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Accident Fund Will Make Board of Water & Light's Ottawa Street Station Power Plant in Lansing Its New National Headquarters
Date:10/8/2007

ent to Michigan," said Daniel J. Loepp, president and CEO of Blue Cross Blue Shield of Michigan. "Accident Fund has grown significantly since becoming a national carrier of workers' compensation. We believe the company will continue to grow and expand here in Michigan if given more opportunities to do so in the future."

Accident Fund said it expects to create up to 500 new jobs for Lansing and Michigan, bringing its total workforce to 1,200. The new jobs will be created to accommodate the company's planned strategic growth over the next several years. Accident Fund determined it would outgrow its two present Lansing facilities by 2011, requiring a search for new national headquarters.

"Accident Fund will preserve a downtown landmark while transforming it into an exciting state of the art business campus," Haar said. "This redevelopment will be a catalyst to a revitalized downtown and Lansing community. It shows what can be accomplished by a strong, stable company that has the freedom to execute its strategic vision."

"We considered several sites for this expansion," Haar continued. "After a thorough analysis, we decided this decision was best not only for Accident Fund, but also for our home city and state."

The Ottawa Street Station power plant is presently owned by the Lansing Board of Water & Light. A redevelopment agreement was signed by Accident Fund, BWL and the City of Lansing. Accident Fund is working with The Christman Company of Lansing as the developer.

Haar said the downtown site offers room for growth and space for on-site parking in a campus-like setting. Preliminary plans include renovation of the power plant into Class A office space, as well as construction of an adjoining complementary building providing additional office space and a central energy plant. A 1,000-car parking deck also will be built, and the present Ottawa Street parking structure will be razed. Plans also include a linear public park along the riverfro
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SOURCE Accident Fund Insurance Company of America
Copyright©2007 PR Newswire.
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