Dimensional Fund Advisors, a Texas based investment management company, announced Wednesday that they will open their east coast headquarters in Charlotte creating over 300 jobs. Headquarters location speculated to be in South End.
- Dimensional Fund Advisors is based in Austin, TX and has 11 offices in eight countries.
- They have approximately $400 billion assets under management.
- Approximately 316 jobs will be created in Charlotte with an average salary around $150,000. These jobs will likely be in portfolio management, trading, client services and other key functions.
- They received a state incentives package of $10.3 million as a refund for state employee taxes. This amount will be reimbursed once jobs are created and their facility is built.
- Dimensional will initially lease office space in Uptown but plans to invest $105 million into a new facility that they hope will open in the 4th quarter of 2018.
“What’s good for Charlotte is also good for North Carolina” – Governor Pat McCrory at Wednesday’s announcement at the Charlotte Chamber of Commerce
“This is an exciting time for Dimensional as we embark on expanding our business operations to Charlotte. We are energized by Charlotte’s vibrancy and believe our business is well matched for the community. Our new regional headquarters will build on the strong foundation we’ve established in our other offices—a workplace culture of learning, teamwork, innovation, and dedication to our clients.” – David Booth, Chairman and Co-CEO of Dimensional
After several conversations, we are speculating that Dimensional’s headquarters will be in South End where the HD Supply building is located.
Evidence supporting our claim (view more details from Boye/CBJ story):
- Dimensional is HEAVILY tied to Cousins Properties. They are managing Dimensional’s Charlotte real estate interests, including their temporary space in the Fifth Third building and developed their Austin office. We’ve found a document from 2010 tying HD Supply to Cousins.
- The site is rumored to be under contract and surveyors have been seen there.
- Dimensional likes South End.
- There is potentially a hotel component to this development where Dimensional could have priority on rooms.
- Councilwoman Lawana Mayfield was at the Chamber announcement representing the Mayor. Her territory includes South End.