Reports say AIG Travel Guard is on the verge of bankruptcy and the Governor of New York is allowing them to use $20 billion in assets just to stay afloat.

The company is building a new headquarters in the Portage County Industrial Park, promising to bring hundreds of jobs to the area.

The Mayor of Stevens Point, Andrew Halverson says the company's financial problems will not halt construction.

Back in January, AIG Travel Guard officials announced plans for the $20 million headquarters.

Mayor Halverson says he has been in contact with AIG Travel Guard representatives in Stevens Point, since the financial trouble was announced.

"I've had a chance to have a very open and honest dialogue between AIG Travel Guard executives here on the ground here in Stevens Point and it's business as usual from their perspective, they will be there for their customers as they have been for the last 20-25 years."

Mayor Halverson says the division of AIG Travel Guard that is experiencing financial trouble is separate from the division that operates in Stevens point.

He says AIG Travel Guard is one of the largest employers in the city and the city will support them in any way they can.

Mayor Halverson says the new headquarters is supposed to bring between 3 to 4 hundred more jobs when it's completed in June or July of 2009.

In a statement, a spokeswoman for AIG Travel Guard says things are "business as usual."

The statement also says their parent company will continue to work with federal regulators on their financial issues.