Motor and home insurer Youi today unveiled its new $73 million global headquarters on the Sunshine Coast, at the Sippy Downs technology precinct.

The four-level building comprises 12,500 square metres of office space and accommodates up to 1700 staff.

CEO Frank Costigan says building the headquarters at Sippy Downs “reinforces our commitment to growing with the community”.

“We are one of the region’s major employers and have been part of the Sunshine Coast since Youi commenced its Australian operation with 30 staff in 2008,” he said.

The technology precinct is close to the University of the Sunshine Coast, enabling collaboration with the university.

Sunshine Coast Mayor Mark Jamieson says Youi’s commitment is expected to inject $1.2 billion into the local economy over the next decade.

The global headquarters will be home to all corporate functions, including IT, marketing and human resources, and it will feature an advice hub where customers can discuss their insurance or obtain information about products.

More than 900 staff will move from Youi’s offices at Birtinya before Christmas.

Stage two of the project will see a 12,500-square-metre wing added to the headquarters, providing space for up to 3000 staff.