Firm To Bring 1,200 High-Pay Jobs to City: Mayor says Fidelity Investments salaries will average $60,000
BYLINE: Andrew Webb, Albuquerque Journal, N.M.
Jan. 17--International financial giant Fidelity Investments is expected to announce today that it will open an office at Mesa del Sol with 1,200 high-paying jobs.
Albuquerque Mayor Martin Chavez told the Journal on Wednesday that the company plans to build a 200,000-squarefoot office at the masterplanned development southwest of Downtown. The office is scheduled to open in early 2009.
Employees there would perform white-collar tasks such as human resources, with an average annual salary of $60,000, the mayor said.
"Any time we can bring highpaying work that has impact beyond our borders, it's a great infusion to our economy," Chavez said.
He said the state is expected to contribute $15 million in capital toward infrastructure, such as roads and utility lines, at the facility. The city will contribute another $1 million. Fidelity will own the building, he said.
Chavez said the agreement was the culmination of city and state economic development efforts to lure the investment company.
The announcement comes within days of another economic development coup for the city and state.
On Tuesday, Gov. Bill Richardson announced the decision by German glass giant Schott AG to open a solar equipment plant, also at Mesa del Sol.
The solar equipment plant aims to hire 350 people when it opens in 2009 and eventually expand to about 1,500 employees.
Fidelity Investments is actually made up of two companies: Boston-based Fidelity Management and Research, which does business in North America, and Bermuda-based Fidelity International Limited, which serves clients in other parts of the world.
The company provides brokerage and retirement services, estate planning, wealth management, life insurance and other investment products, along with operating several mutual funds.
It had revenues of nearly $13 billion last year and employs 41,000 people around the world.
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