NEC member Liberty Mutual Group, a leader in the insurance industry, recently held a ribbon cutting ceremony to celebrate the opening of their new office building at 157 Berkeley St. in Boston’s Back Bay neighborhood. Attendees of the ceremony included Chairman and CEO David Long, Mayor Menino, and Gregory Bialecki, the Secretary of Housing and Economic Development. The new building will provide office space for 600 new full-time employees and will further increase economic activity in the area.
Liberty Mutual Group started construction on this $300 million expansion project in 2010 and completed the project in late June 2013. In addition to the benefit of the 600 new jobs that the expansion project created, it will also provide the city with an additional $70 million in tax revenue over a 20 year period. The increased number of jobs and tax revenue created by Liberty Mutual will continue to strengthen Boston’s economy and improve the lives of its citizens.
The building at 157 Berkeley St. is also helping Boston to reduce its carbon footprint. The building is “20 percent more energy efficient than a typical large modern office building, features energy efficient fixtures, groundwater recharge tanks and a green roof that maintains the indoor temperature through improved insulation,” Liberty Mutual said.
Boston Mayor Tom Menino was a strong supporter of Liberty Mutual’s expansion project, which also won the approval of the Boston Redevelopment Authority as a means to pursue a plan of smart growth development for the city. THe addition of new employees at this location will allow Liberty to expand its services while also supporting local businesses in the neighborhood. The New England Council is proud to count Liberty Mutual Group among our members and congratulates the company on this exciting expansion.