The Charles Schwab Corporation Expands Austin Presence with New Campus

Aug 6, 2014
Austin Chamber

Collaboration between Travis County and state government and the Austin Chamber of Commerce secures $196 Million Investment, creating over 800 new jobs

August 5, 2014, AUSTIN, TX—Today, The Charles Schwab Corporation, an investment services company, announced it will expand its presence in Austin, creating over 800 jobs and making a $196 million investment. Schwab’s broker-dealer subsidiary, Charles Schwab & Co., Inc. and its affiliates are leading providers of securities brokerage, banking, money management and financial advisory services, and offer a complete range of investment services and products. The company plans to occupy an existing 187,000-square-foot building and also construct a new 250,000-300,000 square foot building in the Domain area that will house its existing and new employees. Austin-based real estate brokerage firm AQUILA Commercial represented the Company in the real estate transaction

Ben Sheppard, vice president of Schwab Corporate Retirement Services and senior location leaderfor the company in Austin, added, “We’ve been building our presence in Austin since 1982, when we opened our first branch here, and we’re very pleased to continue investing in the community – not only through our real estate plans but also through the volunteerism and philanthropy our employees contribute to local nonprofit organizations. Austin is a great place to live and work, and it offers a skilled, well-educated workforce for our recruiting needs”

The Austin Chamber of Commerce, Travis County and Opportunity Austin supported this investment via collaboration with key leadership from Schwab throughout the site selection process. The Austin Chamber of Commerce assisted the Company in navigating the economic proposal process, and today, Travis County approved a performance-based economic development 2/2package estimated at $3.3 million. In July, the State of Texas announced Charles Schwab’s selection for a $4.5 million Texas Enterprise Fund (TEF) grant

The financial services industry in Austin consists of 1,800 companies employing over 35,000. Charles Schwab joins the growing list of companies who have announced their intention to relocateto or expand in Austin in 2014, including Box, Athenahealth, Dropbox, Websense, Ottobock Healthcare and HID Global

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