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Arch Insurance Group Inc. has decided to relocate its corporate executives and support divisions to New Jersey following an announcement that the company has leased over 100,000 square feet of office space at the Harborside Financial Center, Plaza 3, on the Jersey City Waterfront.  The insurer expects to bring nearly 300 new jobs to New Jersey from New York City.

“We are excited that our efforts to attract high-quality jobs to New Jersey has achieved another success with the announcement that Arch Insurance Group will join the long list of financial services and insurance companies that have established key facilities in the state,” said Gov. Jon S. Corzine. “Our talented workforce, strategic location, quality of life and pro-growth, pro-business initiatives create an environment that continues to make New Jersey a great place to do business.”

“The decision by Arch to lease space within Jersey City’s Gold Coast means hundreds of new, high-paying jobs in a targeted industry sector for New Jersey and is another example of how Governor Corzine’s Economic Growth Strategy continues to benefit our state,” said New Jersey Economic Development Authority (EDA) Chief Executive Officer Caren S. Franzini.

Arch Insurance Group, Inc., a division of Arch Capital Group, Ltd., provides a wide range of property, casualty and specialty insurance for corporations, professional firms and financial institutions across the United States and Canada.

“Arch Insurance Group is excited to be moving our corporate executives and support divisions to Three Harborside,” said Chief Administrative Officer Dennis Brand. “Jersey City offers an unmatched combination of economic incentives, first-class facilities and a top-tier workforce to sustain and grow these critical business functions well into the future.”

During its process of exploring relocation sites in New Jersey and New York, Arch contacted New Jersey, which provided site selection services and assistance in applying for a Business Employment Incentive Program (BEIP) grant.  The BEIP grant, worth an estimated $9.6 million over 10 years, was approved in June.

“We are pleased that Arch Insurance has selected Harborside Financial Center in Jersey City to lease more than 100,000 square feet for 15 years,” said Mayor Jerramiah T. Healy.  “As the 12th-largest downtown commercial center in the nation, Jersey City continues to attract Fortune 500 companies and leaders in the financial, real estate and insurance industries.  Jersey City continues to be extremely competitive in relation to Manhattan due to our lower overall operating costs, our skilled work force and our comprehensive mass transportation system.”

The U.S. Department of Labor has announced a $5 million grant to the state of Texas to assist approximately 3,727 U.S. Department of Defense civilian employees impacted statewide by the 2005 Base Realignment and Closure (BRAC) actions.

“This $5 million grant will provide these Texans with job placement assistance, skills training and other re-employment services to help them get started in new careers,” said U.S. Secretary of Labor Elaine L. Chao.

This grant, awarded to the Texas Workforce Commission, will support strategies to minimize the time BRAC-impacted workers are unemployed and assist affected workers in upgrading their skills. Services made available through this grant include assessment, counseling, case management, job training, certification, on-the-job training, job placement and follow-up. Additional services will be provided based on individual needs and local labor market conditions.

Of the $5 million announced, $2.5 million will be released initially. Additional funding up to the amount approved will be made available as the state demonstrates a continued need for assistance.

National Emergency Grants are part of the secretary of labor’s discretionary fund and are awarded based on a state’s ability to meet specific guidelines.

Despite the fact that the country’s economy is suffering, jobs in Boston remain more secure than those in many other areas. The most recent statistics show that only 5.0 percent of residents have been unable to find work. During the same period of time, Massachusetts’ jobless rate was slightly higher at 5.3 percent and the national average was 6.1 percent.

Several industries, such as construction and financial activities, have been reporting job losses due to issues like the housing market slump and the financial industry’s crisis. Other sectors continue to post gains, including professional and businesses services, healthcare and educational services, leisure and hospitality and government. Although this show that the city’s job market is, over all, fairly resilient, many are still worried about finding work.

Job seekers in the area will be happy to know that 13 of the state’s 50 largest employers are located in Boston. These companies are great places to start when looking for work because they have larger budgets, and therefore, can afford to hire new employees when other’s can not.

The largest of the employers is Massachusetts General Hospital, which currently has around 14,000 workers. Since the country is in the middle of a shortage of medical professionals, workers with experience in this industry are always needed. Other large medical facilities in the area include Brigham and Women’s Hospital, with 10,000 employees, and Beth Israel Deaconess Medical Center, where 5,000 residents currently work. Even those who don’t have training in the medical field may find positions with these employers because a variety of staff members are needed to keep a hospital running.

Another large employer in the area is Boston University, which employees 7,000 residents. Aside from professors, university have positions for everyone from janitors to human resource managers and public relations officers. One benefit from working for an institution of higher learning is the fact that fulltime staff members are usually given the opportunity to go to school for either a deeply reduced fee or free of cost.

The job market in Boston may worsen before the end of the recession, but few expect it to suffer as badly as many other cities.

Conducting a background check on current and potential employees may help save your business from theft.  Click here to learn more.

A recent study by American DataBank found that as many as 95 percent of all United States businesses suffer from some form of business theft. Lately, that number, and the potential risk, is growing because of the lagging economy. According to an article by BloggingStocks, employees engaging in such things as theft can result in dire consequences for the entire company.

“Actually, I’ve known some examples where a company had to shut down because of the shenanigans of an employee (keep in mind that the most serious examples of business theft are often from employees),” the article notes. “But there are some precautions you can take.”

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