Funeral Directors Life Insurance Company sets 5-year expansion plan to create more than 70 new jobs
Abilene, Texas - Funeral Directors Life Insurance Company (FDLIC) is a full-service pre-need insurance company, headquartered in Abilene, Texas. Founded in 1977, the company later relocated to Abilene from Brady in 1986, FDLIC has grown to provide products and services to funeral homes in 36 states across the country.
The award-winning company has been recognized many times in its history including being named one of the 500 fastest growing privately-held companies by INC Magazine. It's also been named the #1 Best Company to Work for in Texas in the mid-size company range by Texas Monthly and Best Small Workplaces by FORTUNE.
Since its founding, Funeral Directors Life Insurance Company has diversified from strictly pre-need insurance into other supporting services including financial services and innovative software solutions. As a result, the company aims to expand their headquarters, keeping Abilene, Texas as their home.
The company currently employs more than 160 people and hopes to add more than 70 more in the next five years. To accommodate this growth, the company has plans to expand its facility with a 30,000 square foot addition to its campus located in south Abilene at an estimated cost of $6.9 million.
“When the need for expansion was evident, we approached the Development Corporation of Abilene to seek assistance with the project. The DCOA has been a great partner to work with and has helped play an important role in our plans for growth,” said Kris Seale, President of Funeral Directors Life Insurance Company.
"This move towards expansions only strengthens their ongoing commitment to Abilene and hits a primary goal for the DCOA by providing resources to higher paying jobs. The average wage for FDLIC staff is more than $25/hr., significantly higher than the regional average of $19/hr.," said Justin Jaworski of the Abilene Industrial Foundation.
Kent Sharp, CEO of the Development Corporation of Abilene, said the company will contribute approximately $134 million in payroll to the local economy in its first ten years. "The project itself will generate an additional $4.9 million in revenues to local taxing entities over this period of time, with $2.8 million accruing to the City of Abilene," he added.
As a result, the Development Corporation of Abilene approved a 15% match of the investment, up to $1 million, leaving the remaining 85% to be provided by the company. "The involvement from the DCOA to incentivize this company to stay and grow in Abilene is a testament to all the great things our city has to offer businesses," said DCOA Board President John Beckham.
The incentive requires the company to meet minimum performance criteria for jobs and investment over the next five years.