HUNDREDS of jobs are set to be created in York through plans from a global insurance firm to open a new office in the city.
Hiscox will move into a new office at the council-owned Hungate site in the city centre in August 2014, initially with 120 staff, followed by another 180.
York Council has been working closely with Hiscox and York-based developers S Harrison Group to support the company’s move.
The sale of the site to the developers, which is being considered by full council in October, will allow for the development of an office complex for Hiscox and an £18m, 262-bedroom hotel on the site, creating a further 100 jobs.
Councillor James Alexander, leader of York Council, said: “With the city’s ambition to become a world class destination for business and visitors alike, the investment signals a significant further step towards this ambition.
“It is potentially a pivotal moment in the development of the city centre’s future as a diverse and more resilient economy.”
York Council gave its approval to the plans in 2006 to transform the semi-derelict Hungate site with 720 new homes, a riverside piazza, walkways and cycle paths.
The land now set to be occupied by Hiscox was originally earmarked as the council headquarters, but the authority scrapped the scheme and will instead move to a site at West Offices following concerns from English Heritage.