Consultants Forum Advertise
Subscribe
Close

  • Free for qualified executives and consultants to industry

  • Receive quarterly issues of Area Development Magazine and special market report and directory issues

Subscribe Now
Renew

Area Development - Site Selection, Facility Planning and Workforce Development

ARK Investment Relocates-Plans St. Petersburg, Florida, Corporate Headquarters

10/20/2021
ARK Investment Management, an investment adviser focused solely on investing in disruptive innovation, will relocate its corporate headquarters to St. Petersburg, Florida.

According to company officials, in addition to the relocation, the company announced groundbreaking for the ARK Innovation Center will take place during the first quarter of 2022. ARK believes that its relocation and the Center will advance its business as it scales and continues to redefine the asset management industry, and will increase collaboration between and among the communities focused on innovation at the local and national levels.

"We are thrilled to relocate our corporate headquarters to St. Petersburg, Florida, as we believe the Tampa Bay region's talent, innovative spirit, and quality of life will accelerate our growth initiatives," stated Cathie Wood, ARK's Founder, CEO, and Chief Investment Officer. "ARK is not a traditional Wall Street asset management firm, and we are looking forward to breaking the mold further by relocating to St. Petersburg, a city investing in technology, science, and innovation. Our relocation and the ARK Innovation Center will allow us to be more innovative and to impact the broader community while shining a spotlight on the technological advances and creativity permeating the Tampa Bay region."

The new headquarters will be in the heart of downtown at 200 Central. While a substantial number of employees have chosen to relocate and work in the office, ARK's hybrid back-to-work model will harness technology to accommodate working remotely.

"We are thrilled ARK has decided to call Florida home," stated Florida Secretary of Commerce Jamal Sowell, President and CEO of Enterprise Florida (EFI). "Their investment in the St. Petersburg area will have profound economic impacts in the years to come and will continue to set Florida apart as one of the top innovation destinations in the country."

In tandem with the relocation, ARK is collaborating with the Tampa Bay Innovation Center on a new incubator that Pinellas County will build and own. The incubator, designated as ARK Innovation Center, is scheduled to open in July 2023 and will be located on 2.5 acres donated by the City of St. Petersburg at 4th Street and 11th Avenue South in the Innovation District. By 2026, the 45,000-square-foot building is expected to impact the county by $28 million thanks to the 1,265 direct and indirect jobs expected. Moreover, its clients and graduates are expected to generate $127 million in annual revenue.

"ARK represents the community of innovators and disruptors thriving in St. Pete, particularly in the financial sector," stated J.P. DuBuque, President & CEO of the St. Petersburg Area Economic Development Corporation. "We are incredibly proud that ARK has chosen not only to join us but to invest in the St. Pete community."

"We've worked closely with our state and regional partners to help ARK choose the City of St. Petersburg for their investment," stated Dr. Cynthia Johnson, Director of Pinellas County Economic Development. "We're honored to continue our work and excited to collaborate with Cathie and her team to promote innovation and entrepreneurship in Pinellas. We want to thank ARK for its commitment to equitable development and job creation."

Exclusive Research