DTCC earmarks $4.8 million for Tampa expansion

Source: DTCC

The Depository Trust & Clearing Corporation (DTCC) announced today that it has chosen Tampa as the expansion location for up to 255 high-wage, new jobs with total average compensation more than double the regional average salary of $46,000.

In addition, the company announced a $4.8 million investment in its only Florida campus as part of the company's long-term expansion strategy.

"The decision to expand our operations in Tampa signals our continuing commitment to this community and represents a new chapter in DTCC history," said Michael Bodson, DTCC President and Chief Executive Officer. "The City of Tampa, Hillsborough County and the State of Florida have been great partners of ours since 2004, and we look forward to strengthening these relationships for years to come."

Over the years, DTCC has created well-established partnerships with MacDill AFB, the University of South Florida and other local educational institutions to create a funnel for recruiting the best talent in the region. The planned jobs will be in highly specialized sectors across the board, including IT, operations, human resources and finance. A phased-hiring schedule will be administered over a projected three-year period.

Governor Rick Scott said, "This is great day for families in Tampa. The news that DTCC has decided to reinvest in Tampa and create more jobs means more families will have the opportunity to pursue the American Dream. This investment is a testament to our state's great workforce and the resources our state offers to companies in reaching their goals."

Existing relationships with not only the state, but also local governments were critical factors in expansion process.

"Hillsborough County has long supported DTCC's current and growing operation in Florida," said Hillsborough County Commission Chairman Ken Hagan. "Today, we celebrate its continued commitment and its focus on high-tech job development and retention in our community."

The City of Tampa was also a key partner in the decision to expand locally.

"DTCC's decision to expand in Tampa means more well-paying jobs, of course," said Mayor Bob Buckhorn. "Just importantly is that since they arrived some nine years ago, DTCC has been positively impacting our community in many other ways as well by seeking out our retired military for many of these positions, working with our local universities and supporting disadvantaged schools and organizations in Tampa. "

The expansion is DTCC's first in the region since it opened its New Tampa facility nine years ago. DTCC's Tampa office started as a redundant operations center and now it serves as a fully integrated business center. With the expansion plans and investment in the Tampa campus, DTCC will continue to improve its technology, facilities and resources needed to provide secure transactions for clients.

"This expansion aligns with DTCC's workforce location and sourcing strategy and allows us to continue to provide our clients with exceptional service while meeting the needs for long-term sustainability," said Eric Miller, Managing Director and Head of DTCC Tampa. "Tampa is an excellent environment for businesses to grow and thrive, and it has proven to be the right choice for us."

The company considered offers from other states with existing operations, but ultimately chose Tampa based on several factors, including recruitment potential and quality of living for its employees.

"As a global financial services company, DTCC's decision to commit to a major expansion in our community reflects the growing momentum in Tampa Bay," said David Pizzo, Chair of the Tampa Hillsborough Economic Development Corporation, and Market President, West Florida for Florida Blue. "We are focused on attracting high-wage jobs in key areas, such as financial services, and the effort is working. DTCC is an incredible example of how city, county and state partnership drives economic success."

Miller also stated that DTCC Tampa has a great relationship with the community. "We are proud of the fact that DTCC is bringing jobs and prosperity to the area. Our track record speaks for itself. We fulfill our commitments because we recognize the importance of being a good corporate partner."

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