Jackson National Life Insurance Company says it plans to spend $100 million on a new office complex in Lansing.
The life insurance and annuities company is headquartered in the capital city.
The expansion will add a thousand jobs of all types.
Mike Wells is Jackson National’s president. He says their growing business has outgrown the complex they built a decade ago.
“We now have twice the employees we had in Michigan,” says Wells, “we have outgrown our space.”
The expansion plan still has a few hoops to jump through, including approval for millions of dollars in local tax incentives and wetlands mitigation.
Company officials hope to break ground on the project later this year. It may be a few years before the expansion is complete.