Tuesday, November 21, 2017
Business

Three financial firms may inject 1,000 higher-wage jobs in Tampa Bay area

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Tampa and Hillsborough County are frontrunners to land up to 1,000 good paying jobs from three financial services companies.

None of the proposed expansions are finalized, but they are scheduled for reviews on Nov. 15 by both the Hillsborough County Commission and Tampa City Council. In all three cases, state and local government incentives are part of the package to lure the new jobs.

New York-based Depository Trust & Clearing Corp. is still weighing competing offers from Tampa and Jersey City, N.J. It plans to create 255 new jobs paying more than $80,000 — double Hillsborough's average salary. If the company chooses Tampa, it also plans an additional $4.8 million investment to its local operations near Bruce B. Downs and Interstate 75.

The expansion also includes an additional 35 jobs already created here. Those jobs will go wherever DTCC decides its 255 new hires will be located. The company employs 530 already in Tampa, so an expansion here would push those numbers close to 800.

"We are evaluating workforce location options," says DTCC spokesman Richard Marulanda. The Tampa facility has room to handle such an expansion, he says.

The company's 2,600 employees worldwide handle Wall Street securities processing, often clearing more than $1 trillion a day. The company first expanded here from lower Manhattan shortly after the terrorist attacks on the World Trade Center towers on Sept. 11, 2001.

A second company, Maitland-based Digital Risk LLC, could bring up to 600 new jobs averaging nearly $50,000 to the Tampa/Hillsborough area.

Those jobs are part of a larger expansion deal cemented with Florida this past summer. In exchange for state incentives, the company agreed to create 1,000 new jobs and gets to choose where to locate them around the state. So far, about 200 of those jobs went to Boca Raton and another 220 have gone to Jacksonville.

"We have been looking in the (Tampa) area and have pinpointed a location but have yet to sign a lease," says Digital Risk spokeswoman Brandie Young. "We do anticipate a facility in the general downtown area."

Digital Risk debuted this summer at No. 122 on the Inc. 500 list of the nation's fastest-growing private companies. It provides lenders with risk analysis of mortgages. The company says Florida was selected for expansion over Charlotte, Dallas, Denver and Phoenix.

Finally, a third and unnamed company would bring 110 financial jobs paying close to $50,000, most likely to Temple Terrace. The firm's name was not identified, unlike the other two companies, because the state used its "qualified target industry" or QTI tax refund program, which permits the company to remain anonymous at this stage of the process. The firm is also considering locations in Utah and Ohio.

"We are working hard to create new, high-wage jobs in key industries such as financial services," Rick Homans, CEO of the Tampa Hillsborough Economic Development Corp., said in a statement.

The combined addition of nearly 1,000 financial industry jobs would strengthen an already robust list of area financial players here with substantial operations that includes JPMorgan Chase, Capital One, Citigroup, New York Life and USAA, among others.

The last job expansion in Tampa/Hillsborough that caused a buzz was the September 2011 announcement that Time Warner planned to add 500 jobs here over five years at an average salary of $57,200. Time Warner, based in New York City, is a big corporate name, and its planned growth in this area is considered a sales coup among economic developers.

No argument there. Now comes the distinct possibility of landing twice as many good paying jobs. The whiff of economic momentum is in the air.

Times staff writers Bill Varian and Richard Danielson contributed to this report. Contact Robert Trigaux at [email protected]

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