Gov. Jay Nixon Sees "Major Win" for Missouri at Chesterfield Groundbreaking

Missouri Gov. Jay Nixon stopped by Chesterfield Monday to participate in the groundbreaking ceremony for the construction of a new, $150 million global headquarters for Reinsurance Group of America. 

The Fortune 500 business has been in Chesterfield since the early 1990s, located in a building on Timberlane Manor Parkway. Their new HQ will be next to Chesterfield City Hall on Swingley Ridge Road and will hold two five-story buildings joined by a two-story atrium when it is finished, a total of 405,000 square feet.

On Monday, Nixon said the project represents an approximately $140 million investment into the local economy and shows that businesses consider Missouri a “safe and reliable place” to invest. RGA was founded 40 years ago and from those “humble origins,” Nixon said, it has grown into a company with field operations in 24 other nations.

“It is especially satisfying when a company that has called the show me state home for decades increases it investment here in Missouri,” he said.

In order to help secure that investment, RGA received a package of economic incentives from the state based around the 300 new jobs estimated to be created as a result of the project.

Department of Economic Development spokesman John Fougere said the company received around $10 million through the Missouri Quality Jobs program and $1.2 million in New Jobs Training funding, both dependent on the hiring of the new employees.

RGA’s CFO Jack Lay said the company looked at numerous sites over the last several years in and around St. Louis before determining that Chesterfield would be “the commercial center of trade for our operations.”

“And for an international company, that’s saying something,” Lay added.

CEO Grieg Woodring, who has been with the company for more than 20 years, said the easy access to Highway 40/I-64 and the central nature of the location along with other quality-of-life factors also contributed to the company’s decision to remain in the area.  

“A lot of the people we have recruited over the years have bought houses here in this area,” he said

RGA is hoping to complete construction on the project by the end of 2014 with a ribbon cutting estimated for September of next year.