Gov. John Hickenlooper today announced Charles Schwab's renewed commitment to Colorado, with a $230 million investment in real estate in Lone Tree.
Schwab (NYSE: SCHW) has approximately 2,000 employees in the Denver area and will relocate its workforce, currently in three rented office buildings, into a consolidated campus to be built in the RidgeGate development in Lone Tree.
"Colorado's momentum continues in both recruiting and growing globally-recognized companies and adding highly-skilled jobs," Hickenlooper said. "Charles Schwab's renewed commitment to Colorado is a testament to our business-friendly climate and our ability to attract and retain important employers. The company's commitment to service and community is also a great match for our state."
Founded in 1973, The Charles Schwab Corporation through its operating subsidiaries provides brokerage, banking and investment services to consumers and businesses. The company opened its first Colorado branch in Denver in 1978 and established its Denver service center in 1991. Denver continues to be an important employment center for the company.
"We are very pleased that a top-notch financial services company like Charles Schwab has selected Lone Tree for its new campus," said Jim Gunning, Mayor of Lone Tree. "We welcome the addition of Charles Schwab to the growing list of nationally recognized companies in our city."
The company will receive tax credits from Colorado's Job Growth Incentive Tax Credit for the potential creation of up to 480 new jobs over five years. The performance-based credit will be applied based on new jobs created between 2013 and 2017.
"We are seeing tremendous growth in our financial services industry, which has a ripple effect across the economy and in attracting companies and investments," said Ken Lund, Executive Director of the Colorado Office of Economic Development and International Trade. "Schwab's stellar reputation and global name recognition make them an important partner in continuing to build this sector. We will continue to work hard to help them grow in Colorado."
RidgeGate, a mixed-use planned community in Douglas County with integration of light rail transit, was chosen for the Schwab campus. RidgeGate is home to more than 2,500 jobs and more than 1,000 residents along with numerous parks, trails, the Lone Tree Recreation Center, the Lone Tree Arts Center and a range of shops and restaurants all in a walkable environment.
Construction on the new consolidated campus is scheduled to begin in February, and Schwab expects to begin occupying the new campus during the third quarter of 2014.