Make us your home page
Instagram

DTCC picks Tampa for expansion, adding 255 jobs

TAMPA — In a victory for efforts to lure higher-paying jobs to the area, the Depository Trust & Clearing Corp. is adding 255 positions at its New Tampa campus.

DTCC on Monday also pledged a $4.8 million investment in its local campus, which it established nine years ago as a backup to its financial hub in New York.

The expansion has been percolating for months. In November, local economic development officials said Depository Trust's injection of 255 more jobs would go to either Tampa or its Jersey City, N.J., operation.

Tampa won out based on several factors, including recruitment potential and quality of living for its employees, the company said. Another inducement: about $4 million in state and local incentives, including $1.23 million from the state's Quick Action Closing Fund and $1.79 million through the Qualified Targeted Industry program.

The firm, which currently has almost 600 employees in New Tampa, is responsible for clearing the bulk of U.S. securities trades. Owned by major Wall Street firms, DTCC last year processed securities trades worth a stunning $1.6 quadrillion (that's a thousand trillion).

With the expansion, DTCC said it will continue to improve its technology, facilities and resources needed to provide secure transactions for clients.

"Tampa is an excellent environment for businesses to grow and thrive, and it has proven to be the right choice for us," said Eric Miller, head of DTCC Tampa. As proof of Tampa Bay's importance, Miller noted how the company was able to transfer trading from New York to Tampa when Hurricane Sandy struck the eastern seaboard. "We didn't skip a beat," he said.

An important cog in the global securities market, DTCC underwent a rude awakening after the Sept. 11, 2001, terrorist attacks. Feeling vulnerable, the company decided to decentralize some processing functions and support staff, seeking a location far removed from New York as a secondary base.

State and local leaders lured the firm to Tampa with $6 million worth of incentives.

It was part of an ambitious vision at the time to turn the area into "Wall Street South," a mecca for high-end financial services jobs.

Since then, with a few notable exceptions, most call center jobs created throughout the region haven't lived up to that promise. In fact, many new jobs statewide are in historically lower-wage industries such as retail, tourism and home health care.

DTCC is one of the standouts.

Average compensation for its new hires will be more than double the regional average salary of $46,000, the company pledged. The new jobs, which will be phased in over three years, include information technology, operations, human resources and finance.

For more information about available positions, go to www.DTCC.com/careers.

Jeff Harrington can be reached at (727) 893-8242 or jharrington@tampabay.com.

DTCC picks Tampa for expansion, adding 255 jobs 04/15/13 [Last modified: Monday, April 15, 2013 10:06pm]
Photo reprints | Article reprints

© 2017 Tampa Bay Times

    

Join the discussion: Click to view comments, add yours

Loading...
  1. Superior Uniform acquires Los Angeles-based PublicIdentity

    Corporate

    SEMINOLE — A subsidiary of Seminole-based Superior Uniform Group has acquired Los Angeles-based branded merchandise company PublicIdentity Inc.

    Superior Uniform Group CEO Michael Benstock
[Courtesy of Superior Uniform Group]
  2. FBI warns of spreading W-2 email theft scheme

    Personal Finance

    The IRS is warning businesses about a sharp increase in email phishing scams involving employees' W-2 forms — scams that can put staffers' Social Security numbers and other critical information in the hands of thieves.

    The IRS is warning businesses about a sharp increase in email phishing scams involving employees' W-2 forms.
[McClatchy DC/TNS file photo]
  3. Walmart expands grocery delivery service in Florida markets

    Retail

    TAMPA — Walmart is formally launching its grocery delivery service in Tampa, the company announced Monday, as it expands its delivery test into Orlando and Dallas. Five locations around Tampa are offering delivery for online grocery orders.

    Walmart is expanding its grocery delivery to Tampa, the company announced Monday. | [Times file photo]
  4. Marina at Hudson Beach poised to become 24-unit condominium-hotel

    Business

    HUDSON — One of the mainstay businesses at Hudson Beach is poised for redevelopment into a 24-unit condominium-hotel.

    The owners of Skeleton Key Marina in Hudson have filed preliminary plans with Pasco County to redevelop the site into a 24-unit condominium-hotel.
  5. Have your say Tampa Bay on the region's future transit options

    Mass Transit

    TAMPA — It's time, yet again, for Tampa Bay residents to tell officials what kind of transit options they want for their region.

    The Cross-Bay Ferry docks at the Tampa Convention Center on its maiden voyage on Nov. 1, 2016. A regional premium transit study will determine whether a ferry, or other options such as express buses or light rail, would be a good addition to Tampa Bay. [SCOTT KEELER  |  Times]