Fred Loya Insurance to bring hundreds of jobs to the Borderland

City Council approved the rebates and incentives on Monday for Fred Loya Insurance expansion in El Paso.

In the next couple of months the company will begin hiring for newly created 562 new jobs. The company says the average salary will be just under $17 and hour. Annually, that comes out to a little more than $30,500.

The majority of the jobs will be in two categories: 240 position need to be filled for claims support, 270 spots for claims adjusters and two management openings.

The company’s expansion relied on approval by City Council. City representatives agreed to give Fred Loya Insurance a tax incentive of the next eight years.

The company will get a rebate of more than a quarter million dollars, essentially paying half of the usual city tax.

The approval of this expansion is projected to have an economic impact of more than $29 million in wages and benefits.