'It takes risk to build great things': Hundreds of insurance workers bound for downtown Edmonton

In what is being seen as a major boost to Edmonton's city centre, Lloyd Sadd Insurance is moving from 124 Street to 101 Street along with about 220 employees.

The company will relocate from the western edge of the Oliver neighbourhood to Bell Tower’s two-floor annex near Edmonton City Centre mall in 2024.

"We are encouraged by the other business leaders and associations who are actively looking for ideas to bring vibrancy and safety to our beautiful city," the company said in a statement to CTV News Edmonton.

"It takes risk to build great things and we can't wait to start this new chapter and do our part for Edmonton and Alberta."

The capital city's downtown has received a lot of negative publicity in recent years, much of it because of crime and social disorder.

The city is working to improve transit safety, police have scrambled more officers to the core and the province has assembled a task force and sent Alberta sheriffs to help.

Lloyd Sadd Insurance and its workers will be a welcome addition, said the leader of the Edmonton Downtown Business Association.

She believes this will be the largest number of employees to head downtown since the pandemic began.

"A company of that size and scale isn’t going to make that decision on a whim," Puneeta McBryan said.

"That movement of people in our downtown is one of the biggest things we are missing in our downtown."

The 124 Street Business Association was unable to comment on what the move might mean for them, but the owner of Bloom Cookie Co. acknowledged it's a blow to that area.

"We’ve worked with [Lloyd Sadd] in the past and they’ve been really great customers. I hope that can continue and we can come to them if need be," Ashley Benson said.

"We’ll feel it in a way. But time will tell what effect it’s going to have on everyone. Hopefully they can fill [the soon-to-be-vacant space] soon."

With files from CTV News Edmonton's David Ewasuk