News Summary
OVD Insurance has officially moved its headquarters from Wyoming, Michigan to downtown Grand Rapids, creating 131 new jobs over the next five years. The company has acquired a renovated seven-story office building and is set to invest $3.8 million in creating a workspace that reflects its culture. Supported by a $1 million grant from the Michigan Economic Development Corporation, this relocation marks a significant step toward enhancing the economic landscape of the region.
Grand Rapids Welcomes OVD Insurance with Open Arms!
Exciting news is buzzing in the city of Grand Rapids as OVD Insurance, a beloved private insurance company, is officially making the move from Wyoming, Michigan to the heart of downtown. This relocation is set to add a whopping 131 new jobs over the next five years, brightening the economic landscape of the region!
A Fresh Beginning in a New Space
OVD Insurance has partnered with CWD Real Estate Investment to acquire a stunning seven-story office building located at 37 Ottawa Ave. NW. This impressive building, which underwent extensive renovations in 2017, is already bustling with activity, hosting several businesses, including the popular Barrio taco restaurant. Talk about an inviting atmosphere!
Current reports indicate that OVD, which has been operational since 1962, is ready to make its mark in Grand Rapids. As it stands, OVD employs around 120 individuals and is eager to grow its team. The relocation to this dynamic downtown area symbolizes more than just a change of scenery; it’s a vibrant step toward enhancing talent attraction and retention.
Support from the Community
The Michigan Economic Development Corporation (MEDC) is throwing its support behind OVD’s exciting move with a generous $1 million Michigan Business Development Grant. This investment highlights the state’s commitment to boosting the local economy and creating job opportunities. With a total anticipated capital investment of at least $12,040,000, OVD’s new headquarters is certainly anticipated to be a cornerstone of commercial activity!
The new workspace will occupy 30,000 square feet on the third and fourth floors, but OVD is thoughtful in their approach. They plan to continue leasing space to existing tenants. Some well-known companies, like Deloitte and Ghafari, currently occupy the remaining spaces, and it’s anticipated that the building will be approximately 94.5% occupied once OVD settles in.
Building a Bright Future
The relocation to downtown Grand Rapids is not just about a new address but about a vision for the future. OVD is investing $3.8 million for a build-out to create a workspace that reflects their company culture and professional environment. This deliberate investment underscores the firm’s commitment to enhancing employee satisfaction and productivity.
In addition to their new headquarters in Grand Rapids, OVD Insurance operates offices across the country, including Pittsburgh, Raleigh, and Wexford, Pennsylvania, as well as partnerships in Dallas and Nashville. It’s impressive to see how far the company has come and where they’re headed!
A History of Change
Before settling into the vibrant downtown scene, OVD Insurance had a rich history in the Grand Rapids area. They’ve been based in various locations, including the iconic Widdicomb building and the Bridge Street Depot. Now, with their new headquarters, OVD is embracing the opportunity to grow and thrive within a community that has been a significant part of their journey.
Thanks to the collaborative efforts of The Right Place, Inc. and MEDC, OVD Insurance is all set for this exciting transition. The support from local partners and financial backers like Macatawa Bank will undoubtedly help ensure the success of this move.
What’s Next?
As the dust begins to settle from their big move, OVD Insurance’s new headquarters in downtown Grand Rapids is expected to trigger a wave of positivity in the community. With the announcement of job additions and a beautiful new workspace, it’s clear that OVD is poised to not just adapt to their surroundings but flourish within them.
Keep your eyes peeled for OVD Insurance as they embark on this significant milestone, paving the way for a bright future in the heart of Grand Rapids!
Deeper Dive: News & Info About This Topic
HERE Resources
OVD Insurance to Transform Historic Building in Grand Rapids
Additional Resources
- MLive: Downtown Grand Rapids Lands New Corporate Headquarters
- WZZM13: OVD Insurance Purchases Building in Grand Rapids
- Crain’s Grand Rapids: Insurance Brokerage Moving HQ
- Business Facilities: OVD Insurance Invests $1M in Michigan Headquarters
- WOOD TV: 135-Year-Old Building to be Sold
- Wikipedia: Grand Rapids, Michigan
- Google Search: Insurance Companies in Grand Rapids
- Google Scholar: OVD Insurance Grand Rapids
- Encyclopedia Britannica: Insurance
- Google News: Grand Rapids Business News
