Fidelity Investments will reportedly move 1,200 jobs to Florida, planning to open a customer-service center in Jacksonville by 2010 that will be manned by phone representatives, traders, salespeople and financial planners. It will be located alongside its current retail brokerage operations there and require an investment of $27.25 million to refurbish the site.
Fidelity still intends to retain its headquarters in Boston and remain one of the state's largest employers but is looking to expand customer service and support centers into other regions of the country in order to have a greater physical presence among investors, provide continuous customer service and tap into new pools of talent. Fidelity selected Jacksonville due to economic incentives and geography. The state is granting the company a tax break of $3,000 per employee and a grant of $5 million, for a total incentive package of $8.6 million.