Silicon Valley Bank secured an additional 60,000 square feet of office space in Tempe, Arizona. The company plans to grow its presence by more than 300 employees in the next three years.

Silicon Valley Bank is currently located at Hayden Ferry Lakeside near Tempe Town Lake and has more than 700 employees, according to Arizona Commerce Authority. With the expansion, the company now has 190,000 square feet in the Hayden Ferry Office Complex. The roles to be filled in the new Tempe location include IT, finance, operations and corporate shared services.

“We’re pleased to expand our presence in Arizona and continue to attract outstanding talent from the Tempe region,” said Phil Cox, COO at Silicon Valley Bank. “At SVB, we have the opportunity to grow and collectively make an impact on the world by supporting the innovative clients and communities we serve. Our world-class team in Arizona is the engine for SVB’s continued growth domestically and internationally.”

“Silicon Valley Bank’s growing presence in Arizona is another sign of Arizona’s expanding tech sector,” said Governor Doug Ducey. “We are proud this company, recognized globally as a leader in technology and business, has chosen Arizona to expand, bringing more jobs and opportunity to our state.”

“We’re thrilled that Silicon Valley Bank has continued to scale its operation and create new Arizona jobs since it first established a presence in Tempe in 2012,” said Sandra Watson, Arizona Commerce Authority President & CEO. “When an industry leader like SVB chooses to invest and grow significantly in Arizona, it speaks volumes about the skilled talent, pro-business environment and incredible quality of life our state offers.”

“The available technology labor pool in Greater Phoenix is growing at rates that are outpacing major hubs across the U.S.,” says Chris Camacho, President & CEO, Greater Phoenix Economic Council. “We’re excited about Silicon Valley Bank’s continued investment in the region, reinforcing that this market is where businesses with innovative ideas can scale and succeed.”