COLORADO SPRINGS, Colo., Jan. 16 /PRNewswire-FirstCall/ -- Global
investment management firm T. Rowe Price today officially opens its second
building at its Colorado Springs campus, doubling its capacity here and
positioning the firm to support anticipated growth needs. Located at 2220
Briargate Parkway, T. Rowe Price's expanded facilities include a 145,000
square foot, three-story building and an additional parking structure and
will accommodate 650 associates, bringing capacity at the Colorado Springs
campus to nearly 1,400 associates.
T. Rowe Price currently employs more than 670 people in Colorado
Springs, a 28% increase since June 2006 when the expansion plans were
announced. Since it first opened a Colorado Springs office in November
1998, the firm has grown from less than $150 billion in assets under
management to $396.8 billion as of September 30, 2007.
The Colorado Springs campus complements similar operations centers in
Owings Mills, Md., and Tampa, Fla., and provides flexibility in servicing
investors throughout the United States, as well as enhanced capability to
serve the investment and administrative needs of the firm's shareholders
and clients located in the western states. At complete build-out the
31-acre site has the potential to accommodate four buildings and
approximately 2,000 associates. T. Rowe Price also recently announced plans
to expand its facilities in Owings Mills.
Employees in Colorado Springs provide investment guidance and various
client services to individual investors, retirement plan participants, and
401(k) plan administrators.
"Our expansion in Colorado Springs reflects the continued growth of our
business as well as our goals to provide world-class service to our clients
and a world-class work environment for our associates," said T. Rowe Price
Vice Chairman Edward C. Bernard. "While T. Rowe Price continues to expand
its operations around the world, Colorado Springs remains a strong fit with
our culture and a critical part of our success. We expect that to continue
for many years to come."
"We continue to be very pleased with the talent pool, business
environment and community relationships in Colorado Springs, as well as our
partnership with the Colorado Springs Economic Development Corporation,"
said Chris Hufman, vice president of T. Rowe Price Services, Inc. and
general manager of the Colorado Springs Investment Services Center. "These
were driving factors in our decision to expand, and should continue to
support our firm's future growth and longstanding commitment to the area."
Amenities in T. Rowe Price's Colorado Springs facility include a full
service cafeteria, onsite fitness center, walking trails and ergonomically
designed workstations. Additionally, the new building features energy-
efficient design elements and maximum use of natural light.
"T. Rowe Price continues to be an outstanding corporate citizen. We
were delighted to assist them with their new expansion, which will add 650
quality jobs and a welcome boost to our local economy," commented Mike
Kazmierski, President and CEO of the Colorado Springs Economic Development
Corporation. "Our relationship was established with T. Rowe Price prior to
1998 and it has been a privilege to work with them over the years and
support them in their needs as they continue to grow in our community."
As part of its growth, the firm expects to hire an additional 60
information technology professionals over the next three to five years.
Individuals interested in employment can view available job openings at
Founded in 1937, Baltimore-based T. Rowe Price (Nasdaq: TROW) is a
global investment management firm that provides a broad array of mutual
funds, sub- advisory services, and separate account management for
individual and institutional investors, financial intermediaries, and
retirement plans. The company also offers a variety of sophisticated
investment planning and guidance tools. T. Rowe Price's disciplined,
risk-aware investment approach focuses on diversification, style
consistency, and fundamental research. More information is available at
SOURCE T. Rowe Price