New York based Depository Trust & Clearing Corporation (DTCC) has selected Tampa as the location to expand its operations, adding 255 high-wage jobs over the next three years at more than double the average regional salary of $46,000.
The company is also spending $4.8 million in capital expenditures dedicated to hiring initiatives, new equipment and the renovation of its 180,000-square-foot facility.
Since 2012, DTCC
weighed in on several competing offers, considering both Tampa and Jersey City, NJ as locations to expand its financial processing and operations support center. The company will focus its expansion initiatives on adding information technology, infrastructure, operational, human resources and finance specialists.
Hiring will begin immediately, and over the next three years, DTCC will carry out additional hiring and facility renovations in phases.
“Our existing facility gives us the ability to continue to hire. As we continue to expand, we’ll have other support functions that need to grow as well,” says Eric Miller, managing director and head of DTCC Tampa.
The expansion project also includes $4 million in state and local incentives, including a $1.79 million Qualified Target Industry Tax Refund and $1.23 million from the Quick Action Closing Fund.
Nine years ago, as a post 9-11 security measure, DTCC planted a hub in Tampa as a larger business continuity strategy to protect critical financial operations and “decentralize the processing and operations support the firm provides to the global financial services industry.”
“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,” says Miller.
DTCC Tampa has since grown from 300 to 530 employees, and cites Tampa Bay as a region with a great technological and veteran talent pool and a prime place to continue its growth while strengthening its local, state and educational relationships.
“Tampa is an excellent environment for businesses to grow and thrive, and it has proven to be the right choice for us.”
The firm has also joined the 100,000 Jobs Mission
, a collaborative network of employers dedicated to hiring transitioning service members and military veterans by the year 2020. “We are working very closely with MacDill AFB to help with the training that is required to help transitioning veterans.” To date, 64,628 veterans have been hired through the initiative.
“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,” says City of Tampa Mayor Buckhorn.
For information on hiring opportunities, visit DTCC’s website
Writer: Kaye Brown
Source: Eric Miller, DTCC and Mayor Bob Buckhorn, City of Tampa