FM Global, a commercial property insurer, has broken ground on a new environmentally friendly, $60 million, four-story, 340,000 sq.-ft. headquarters building.
The structure is being erected near the company's existing corporate offices in Johnston, R.I., and it is scheduled to be completed by mid-2009. A ground-breaking ceremony was held Wednesday.
FM Global said the new building will be able to accommodate more employees and technology infrastructure than its existing facility and has been designed as a "high-performance green building."
The company added that the building is expected to be LEED (Leadership in Energy and Environmental Design) certified by the U.S. Green Building Council.
The U.S. Green Building Council describes itself as a "nonprofit community of leaders working to make green buildings accessible to everyone within a generation."
Speaking to the benefits of LEED certification, FM Global spokesman Steve Zenofsky said that, in general, FM Global has been an environmentally sensitive company. He said, "FM Global believes having a green building is good for our employees, because we provide them a healthier place to work; good for the environment, because we conserve energy, use less water and leave more land in its natural state; and good for the business, because we reduce our building's operating costs."
Mr. Zenofsky added, "In today's age of corporate responsibility, it just makes sense from that perspective. It's the right thing to do as a good neighbor, and additionally, green buildings have financial benefits over time as well."
FM Global said it began to examine its options for a new headquarters in 2006 to make room for future growth, and also because the 25-year operating lease of its current headquarters expires in July 2009.
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