Thanks in part to an $8.5 million Texas Enterprise Fund (TEF) grant, Fidelity Investments will expand its facilities at its Westlake campus. As part of the expansion, Fidelity will build a 600,000-square-foot building. Fidelity will invest more than $200 million in the expansion of its Texas operations, creating 1,535 new jobs.
Fidelity Investments is one of the world’s largest providers of financial services, offering investment management, retirement planning, brokerage, and human resources and benefits outsourcing services to more than 22 million individuals and institutions and 5,500 financial intermediary firms. The company began business operations in Texas more than 20 years ago. Today, the company employs more than 3,400 Texans throughout the state, with 2,800 based at its 300-acre site in Westlake.
Fidelity evaluated a number of other sites outside of Texas before choosing to expand in Westlake. A key factor in Fidelity’s decision was the Texas Enterprise Fund. “The Dallas-Forth Worth area offers the strong demographic profile that Fidelity considers important when making location decisions,” said Fran Eichorst, vice president and site manager for Fidelity Texas. “This profile includes a highly talented and growing workforce, a strong business and community environment, and an opportunity to expand operations to get closer to many of our customers and clients. The significant commitment and support from the Texas Enterprise Fund, along with the support of the town and county, were essential in making the final decision.”
“With this announced expansion and planned job growth, Fidelity will soon become one of the larger employers in the County,” said Gary Fickes, TarrantCounty commissioner, Precinct 3. “From past experience, we know that Fidelity brings a high standard of quality in its facility development, employment benefits and corporate community service.”