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Thursday, June 29, 2006

T. Rowe Doubles Down Out West

by: Neil Anderson, Managing Editor

Colorado Springs, look out -- your investment management trouble is about to double.

Baltimore-based T. Rowe Price announced yesterday plans to building a second building at 2260 Briargate Parkway in Colorado Springs, Colorado. At an estimated cost of $55 million, the new building will have 145,000 square feet, like the existing one, and will add 650 employees. Construction is scheduled to begin in the fall and finish by the end of 2007.

Edward C. Bernard, chairman of T. Rowe Price Investment Services, described the move as part of a broader trend at the company.

"The expansion of the Colorado Springs Investment Services Center reflects the substantial growth of the firm in recent years," Bernard said in the release. "We have always planned to expand in Colorado Springs, and doubling our space now will enable us to accommodate the continued growth of the business that we expect to see in the coming years."

T. Rowe Price first opened its Colorado Springs branch in near the end of 1998.  

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