Western & Southern Financial Group was founded in Cincinnati in 1888 as the Western & Southern Life Insurance Company. Beginning as a door-to-door life insurance business for industrial workers, Western & Southern Financial Group has transformed into a Fortune 500 company specializing in life insurance, investment, and retirement solutions for individuals, families, businesses, foundations, and nonprofits. This report analyzes the economic, fiscal, and community benefits of Western & Southern Financial Group in the Cincinnati Metropolitan Statistical Area (MSA)(Region) between 2008 and 2022.
All dollars reported in this analysis reflect 2022 dollars unless otherwise stated.
The economic benefits of Western & Southern Financial Group include the economic output, jobs, and earnings supported in the Cincinnati MSA by the expenditures of Western & Southern Financial Group, the expenditures of the real estate development projects undertaken by Eagle Realty Group in the City of Cincinnati, the philanthropic support provided to the local community by Western & Southern Financial Group and the Western & Southern Financial Fund, and the sponsorship funding provided to community events by Western & Southern Financial Group. Between 2008 and 2022, Western & Southern Financial Group supported $27.4 billion in economic output, 188,715 jobs, and $13.6 billion in earnings in the Cincinnati MSA.
The fiscal benefits of Western & Southern Financial Group represent the earnings, lodging, and sales tax revenue generated for state and local governments by the expenditures of Western & Southern Financial Group and the expenditures of the real estate development projects undertaken by Eagle Realty Group in the City of Cincinnati. Between 2008 and 2022, Western & Southern Financial Group generated $880.3 million in tax revenue for state and local governments.
The community benefits of Western & Southern Financial Group include the philanthropic support provided to local organizations and the sponsorship of community events. Between 2008 and 2022, Western & Southern Financial Group provided $103.2 million in philanthropic support to local organizations and $6.3 million in sponsorship funding for community events.