Area Development
Global investment management firm T. Rowe Price Group, Inc. will expand its existing Owings Mills, Maryland, facility with a two new buildings that will provide approximately 400,000 square feet of office space, plus two parking garages. The company expects to create more than 1,400 new associates positions as a result of the expansion. The Baltimore Sun reports that the company will invest $185 million in the project, which company officials expect to begin within the next few weeks and complete during the second half of 2009. The company is currently completing a renovation at its global headquarters in Baltimore, where it employs approximately 1,000 workers.