Offering insurance since 1868, Pacific Life provides a wide range of insurance products, annuities, and mutual funds, as well as a variety of investment products and services to individuals, businesses, and pension plans. Pacific Life counts more than half of the 100 largest U.S. companies as its clients.
In 2016, it was announced that Pacific Life would be investing almost $4 million to bring 300 jobs to the City of Lynchburg – it’s first East Coast office. Now, with the first quarter of 2017 almost over, Pacific Life is thriving in Lynchburg.
A Positive Experience
Before bringing their operations to Lynchburg, Pacific Life was looking for ways to expand their market share. Milda Goodman, Assistant Vice President of Corporate Advertising for Pacific Life, said, “The high-volume, highly-efficient operational capabilities and best in class technology platform involved in this transaction will allow Pacific Life to seamlessly extend its ability to fulfill the financial protection needs of a broader consumer market without disruption to Pacific Life’s current business platforms and sales channels.”
The company has had success with the move, and with finding employees to fill the jobs they have created. Mike Shadler, Vice President and Head of Lynchburg Operations, says of Lynchburg, “I’ve always been impressed with the quality of the workforce in Lynchburg. There’s a certain professionalism and friendliness that goes along with it.”
The City of Lynchburg worked with the Virginia Economic Development Partnership to locate Pacific Life in Virginia. In addition to a grant from the Commonwealth’s Opportunity Fund, the company is eligible to receive state benefits from the Virginia Enterprise Zone Program and the Virginia Jobs Investment Program, administered by the Virginia Economic Development Partnership.
In a press release issued on January 25, Pacific Life announced they plan to give $100,000 to local non profits throughout the year. $65,000 has already been awarded. This is part of a larger, company-wide $6.25 million giving plan for 2017. The grants will be awarded in the areas of arts and culture, civic, community and environment, education, and health and human services. The 2017 recipients include:
- The Academy Center for the Arts
- Alzheimer’s Association, Central and Western Virginia Chapter
- Amazement Square
- American Red Cross of Blue Ridge
- Iron Lives, Inc
- Miriam’s House
- United Way of Central Virginia
These grants are made possible through the Pacific Life Foundation, established in 1984. Together with Pacific Life, the Foundation has contributed more than $100 million to community and national nonprofit organizations. Grants are made to organizations that address a broad spectrum of social needs.
For additional company information, including current financial strength ratings, visit their website.