LANSING, Mich. (WOOD) — An insurance broker is getting some $7 million in state incentives as it prepares to move its headquarters to Grand Rapids’ Arena District.

Acrisure announced in August it would lease space at the new Studio Park development. The company will invest $33 million in its new headquarters and will create 400 jobs.

The Michigan Economic Development Corporation is providing a $1 million grant, plus Acrisure will receive $6 million over 10 years from the state through the Good Jobs for Michigan program. It is the first West Michigan company to get that tax break.

“Chicago was the marketplace we looked at the hardest. We do have a corporate office in New York that’s an expanding corporate office … there was certainly opportunity to continue growing that office,” Acrisure CEO Greg Williams said at a Tuesday press conference in Lansing. “We just pulled pack and said, ‘Look, let’s consolidate everything we can, if we can get the right mix of things in terms of facilities and all that.’ So that’s how and why we’ve ended up here.”

Williams is a Michigan native and said that’s one reason he was inclined to keep the headquarters here.

“It’s going to take this once-quiet little part of our downtown and turn it into the vibrant space that really it was meant to be. It’s going to add so much to our downtown and we are really excited about that,” Grand Rapids Mayor Rosalynn Bliss said.

Acrisure is acknowledged as one of the top 10 brokers globally and one of the fastest growing. The CEO touted the company as the best-kept secret in the industry.