EquiTrust Life Insurance Co. said Tuesday it is opening new offices in Illinois that will create 200 jobs in the coming year and could employ hundreds more in years to come.
The first office is planned in Chicago, according to a statement by Equitrust which also stated that Earvin "Magic" Johnson is becoming a controlling shareholder in the firm. Johnson is chairman and chief executive officer of Magic Johnson Enterprise
Governor Pat Quinn said he is excited to have former NBA star and entrepreneur Johnson become a corporate citizen of the state.
"His work in redeveloping urban communities has been widely recognized across the country, and this is a win-win for Illinois," Quinn said.
Johnson said the decision to come to Illinois was based on the state's large and dynamic economy and its pool of talented workers.
EquiTrust Life, which also has offices in Des Moines, Iowa, distributes fixed-rate and indexed annuities and life insurance through a national network of more than 14,500 independent agents.
Johnson also has roots in Chicago’s educational landscape and in September of 2013 launched his new organization, "Friends of Magic" to provide at-risk students with the tools they need to graduate high school.
EquiTrust Life, which also has offices in Des Moines, Iowa, distributes fixed-rate and indexed annuities and life insurance through a national network of more than 14,500 independent agents.
