Strategic Resource Company Expands Corporate Office and Headquarters Campus in Richland County

June 12, 2008

Columbia based company to add 40 new corporate office jobs

COLUMBIA, SC – June 12, 2008 – The South Carolina Department of Commerce, Central S.C. Alliance and Richland County joined today with Strategic Resource Company (SRC), an Aetna Company, to announce the expansion of its corporate office and headquarters campus in Richland County.  SRC specializes in creating and implementing medical plans with various optional coverages specifically tailored for hourly employees.  The company operates from two locations in the Columbia area.  The expansion will result in the creation of 40 new corporate office jobs.  Further, the company expects to add another 60 jobs as the company reaches anticipated growth levels over the next five years. These jobs will pay highly-competitive wages and will exceed the state and county average hourly wage rate.

SRC Chief Financial Officer Jeff Goddard stated, “We are excited about the growth opportunity ahead for SRC as a company and equally excited this growth will be supported by the skilled workforce in the Columbia area.  As we evaluated our future expansion needs, we were pleased with the opportunity to forge a successful partnership with the South Carolina Department of Commerce.  Their support will help facilitate the growth of our business in Columbia.”

“Today’s announcement is another positive sign that our efforts to enhance the state’s economic soil conditions are working to encourage growth among existing businesses and create new job opportunities in South Carolina.  As well, SRC’s continued growth in our state for more than three decades is an indication of the diversity within our state’s economy.  We remain committed to continuing to enhance the state’s business climate with reforms that will foster industry growth and job creation,” said Gov. Mark Sanford.

“For more than 30 years, SRC has been a leading provider of administrative services for employers ranging from the small business owners to companies with over 4,500 locations across major industry groups.  The company has been a valued member of our state’s business community and their decision to expand operations here is a strong reflection of the state’s business-friendly climate and skilled workforce.  Thanks to the efforts of local and state officials, Richland County will benefit from this investment with new jobs high-paying jobs,” said Joe Taylor, Secretary of Commerce.

“Richland County is thrilled to be home to SRC.  We congratulate the Aetna Company on its expansion, and look forward to many more years of a productive partnership,” stated Joe McEachern, Richland County Council Chairman.

Central S.C. Alliance Chairman George Bullwinkel, Jr. stated, “The region’s advantages of an available and skilled insurance services labor force coupled with a competitive cost environment make Columbia-Richland County the ideal choice for SRC’s expansion.  The company has a rich history of operating in central South Carolina and we greatly appreciate their continued investment.”

About Strategic Resource Company (SRC)

Since 1976, SRC has managed the administrative services for employers ranging from the small business owner with a single location to companies with over 4,500 locations across major industry groups. The company started in the limited benefit arena in the mid-1980s, offering accident and sickness benefit packages as recruitment and retention tools to help employers retain their core employees and reduce turnover costs associated with hiring and training.  Today, SRC’s portfolio includes medical, dental, hospital indemnity , short term disability insurance, term life and vision options extended on a group basis to employees who are typically ineligible for company sponsored benefits.  These uninsured employees are often paid an hourly wage, work on a part-time basis or participate during a waiting period for other employer-sponsored coverage.  Today, SRC  medical plans and optional coverages are offered to millions of people through  approximately 1,300 companies ranging in eligibility size from four  to 200,000 employees.  

SRC, has centralized support and services which provides clients with printed enrollment materials, plan implementation, premium administration member services, data-exchange support and development.  Along with Claims, COBRA and HIPAA  services, all are addressed in-house with staff specifically trained to support the particular challenges and needs of the limited benefits marketplace. 

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