Nationwide Mutual Insurance Company, a Fortune 500 company, has paid $83 million for more than 100 acres of state trust land in Scottsdale near Loop 101 and Hayden Road. They plan to construct a mixed-use development on the 134-acre site, including a regional corporate headquarters.
They currently have an office complex in Scottsdale that employs 1,200 but that could jump to 5,500 with the project’s completion.
The city of Scottsdale chose Nationwide to oversee its employees’ retirement plans in May.
“Today’s successful auction represents another major milestone for Arizona — Nationwide‘s significant investment speaks to the confidence businesses have in our state’s thriving economy. I look forward to working with Nationwide as it plans for an expanded presence and an even brighter future in Arizona.”, said Arizona Governor Doug Ducey.