AllianceBernstein, the global asset management firm, will invest $11.4 million and create 200 additional jobs to expand its global headquarters in Nashville, Tennessee.
The additional 200 jobs announced will fill various tech, operations and compliance functions. AB anticipates moving into its permanent downtown headquarters at Nashville’s Fifth + Broadway development by the end of 2020.
According to state officials, the expansion brings AB’s planned investment in Nashville to more than $80 million. In May 2018, the company announced plans to relocate its headquarters from New York City to Nashville and bring 1,050 jobs to Middle Tennessee.
“As AB continues to plant roots in Nashville and Middle Tennessee, we have been so grateful for the warm welcome our firm has received from this vibrant and growing region. Nashville’s core values and talents are an excellent match for our firm, and we look forward to expanding our presence here. We are committed to being a member of Nashville’s vital business community and contributing to and investing in the city’s continued success,” AB President and CEO Seth Bernstein said.
“AB’s new global headquarters is one of Tennessee’s most consequential economic development wins in recent years, and I appreciate the company’s ongoing commitment to Nashville and to our state. The creation of hundreds of quality jobs will provide tremendous benefits to the entire Middle Tennessee region,” said Governor Bill Lee.
“It’s hard to overstate how significant AB’s commitment to Nashville is for our state. Once fully operational, AB will have more than 1,250 employees here in Middle Tennessee, making it one of downtown Nashville’s largest employers. We’re incredibly honored that a company of this caliber has so quickly established deep roots in Tennessee and continues to create extremely well-paying and high-quality jobs in Nashville,” TNECD Commissioner Bob Rolfe added.
“Nashville continues to experience unprecedented economic growth as businesses all over the country are discovering that we provide a highly educated workforce and an excellent standard of living. These high-quality jobs will be a superb addition to our city,” Representative Bill Beck explained.