State Agencies Consolidating At One Federal

Division of Insurance Among Those Making The Move

About 415 state employees from six state offices plan to move under one roof later this year at One Federal Street in Boston.

According to the Division of Capital Asset Management and Maintenance, the Office of Consumer Affairs and Business Regulation is consolidating under one lease, with plans to fill the newly-leased space over four months beginning in December.

The consolidation means the agencies can share support functions and more efficiently and effectively deliver services, DCAMM said, adding that the forecast average annual rent of $6.1 million represents a 19 percent savings for taxpayers.

Office of Consumer Affairs and Business Regulation is moving from 501 Boylston St. and the following five agencies are moving from 1000 Washington St.: the Division of Banks, Division of Insurance, Division of Standards, Division of Occupational Licensure, and the Department of Telecommunications and Cable.

According to DCAMM, the consolidation will enable the state to reduce its usable square footage requirements by approximately 24,000 square feet. News of the real state move was first reported by The Boston Globe on Wednesday.