PROVIDENCE, R.I. (WJAR) — FM announced its expansion and investment to Providence with the purchase of a prominent commercial building.
The commercial mutual insurance company purchased 10 Memorial Boulevard, the former IGT building in the downtown area.
According to FM officials, it will occupy a portion of the 10-story building and maintain current tenants.
“This investment reflects FM’s confidence in Rhode Island and our commitment to creating spaces that attract world-class talent and strengthen client relationships,” said Randy Hodge, chief operating officer of FM. “FM has been proud to call Rhode Island home for nearly 200 years, and this expansion in the state’s capital is a natural choice for our next chapter of growth.”
Company officials said this investment will enhance FM’s regional connectivity, foster collaboration, and improve access to talent and client partners.
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“Providence is proud to welcome FM to 10 Memorial Boulevard,” said Mayor Brett Smiley. “As a global leader and one of the state’s largest employers, FM’s decision to establish a presence downtown reflects Providence’s strength as a thriving hub for leading institutions and increased economic opportunity.”
Clinton Mora is a reporter for Trending Insurance News. He has previously worked for the Forbes. As a contributor to Trending Insurance News, Clinton covers emerging a wide range of property and casualty insurance related stories.