Wednesday, July 8, 2009

Growth Comes to New Tampa and Wesley Chapel with T. Rowe Price’s Pasco County Land Purchase

T. Rowe Price paid $13.5 million last Wednesday for a 75-acre site on State Road 54 in Pasco County. The Baltimore based financial services firm plans to use this land as the site of its new Tampa Bay corporate campus that is expected to bring at least 1,200 new jobs to the Tampa Bay area.

The company, aimed at expanding in the region, plans to build three 150,000 square foot buildings on there new site. The relocation to Pasco County is part of an important expansion of T. Rowe Price’s overall operations. This move gives Pasco County a major global employer and is anticipated to bring significant growth to the region.

A county commissioned study said that T. Rowe Price could add more than $58.5 million in government taxes and school coffers during the next decade. The project will bring more high-wage jobs to Pasco and reverse some of the heavy commuting along the State Road 54 corridor, the state road that runs along New Tampa, Wesley Chapel and Odessa. With this new development, additional residential and commercial growth can be expected in this still expanding region of Tampa Bay.

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