As a result of expanding business, T. Rowe Price will build two new offices totaling 40,000 square feet at its existing campus in Owings Millis, Md., to accommodate 1,400 additional workers. They will be built on a 38-acre site T. Rowe acquired.

Construction will begin before winter, with the buildings scheduled to open in the second half of 2009.

“This plan reflects the ongoing growth in our business, as well as our goals of continuing to provide our clients with world-class services and our associates with high-quality facilities,” said T. Rowe Chairman Brian C. Rogers.

T. Rowe Price currently employs 5,000 and has $379.8 billion in assets under management.

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.