Construction begins on new Oklahoma Insurance Department building

OKLAHOMA CITY – Construction has begun on a new office building for an Oklahoma state agency.

On Monday, the Oklahoma Insurance Department celebrated with a groundbreaking ceremony in northeast Oklahoma City.

Organizers say the building’s modern construction will have a major impact on the community, and is expected to save the state more than $15 million.

“This new building focuses on collaboration and connectivity,” said Insurance Commissioner John Doak. “While consumers will find it open and inviting, employees will have access to work spaces that encourage creativity and teamwork.”

The construction project was made possible by a new bill, which allows the agency to own the building and lease the land from the Commissioners of the Land Office.

“This is a win-win for the state,” said Gov. Mary Fallin. “It is positive for the people of Oklahoma, Insurance Department employees and education because lease payments go to the Commissioners of the Land Office and then directly to education beneficiaries.”

Officials believe that $3.7 million will go toward public education over a 55-year lease.

The building is estimated to cost about $10.5 million. Since the agency is non-appropriated, construction costs will have no impact on the General Revenue Fund.

The building is scheduled to open by Jan. 1, 2020.