T. Rowe Price plans to double the size of its Colorado Springs, Colo., campus, adding a $55 million building to support nearly 900 additional employees. Construction on the 145,000-square-foot building is set to begin in July, pending local permits, and to be completed by the end of 2007. Once complete, the facility will increase the total capacity of the 31-acre campus to 1,400 workers, leaving room enough on the site for two additional buildings and up to 2,000 employees in the future.
"The expansion of the Colorado Springs investment services center reflects the substantial growth of the firm in recent years," said Edward C. Bernard, chairman.
T. Rowe Price employees about 515 customer service representatives, account managers, 401(k) administrators, information technology personnel and other support staff at the Colorado center. The Baltimore-based firm maintains similar facilities in Ownings Mills, Md., and Tampa, Fla.
"Factors such as the labor market and the quality of life that were instrumental in our initial decision to locate in Colorado Springs continue to be in place today," said Chris Hufman, general manager of the facility and vice president at T. Rowe Price.
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