T. Rowe Price Opens Second Building in Colorado Springs

Baltimore-based investment management firm T. Rowe Price opened a second building at its Colorado Springs, Colorado campus last week. The new structure is a 145,000 square foot, three-story building that the company said will support its expected expansion.

Employees in Colorado Springs provide investment guidance and various client services to individual investors, retirement plan participants and 401(k) plan administrators.

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.

A 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.

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.