TD Ameritrade to invest $5.75 million, create 75 jobs in Ann Arbor
Expansion Receives Support from MEDC and Ann Arbor SPARK
LANSING, Mich. – ThinkTech, Inc., a technology subsidiary of TD Ameritrade Holding Corporation (NASDAQ: AMTD), is expanding in Ann Arbor with support from the Michigan Strategic Fund and Ann Arbor SPARK, the Michigan Economic Development Corporation announced today. The project will generate a total capital investment of $5.75 million and create 75 new jobs.
“TD Ameritrade’s investment means Michigan residents will find good job opportunities that could well have gone to other states,” said MEDC Chief Executive Officer Steve Arwood. The company’s decision to expand here demonstrates that our business climate and our state’s world-class talent make Michigan a top destination for tech companies to locate, expand and grow new jobs.”
ThinkTech, Inc. is a technology subsidiary of TD Ameritrade Holding Corporation (NASDAQ: AMTD). Headquartered in Omaha, Nebraska, the financial services firm is growing the technology infrastructure behind its business and will open a new high-tech financial services operation to develop stock trading software in the city of Ann Arbor. TD Ameritrade’s technology office will occupy the McKinley Towne Centre in a space formerly occupied by Google, which is moving to a new facility in Ann Arbor. The project will generate up to $5.75 million in total capital investment and create 75 new jobs, resulting in a $500,000 Michigan Business Development Program performance-based grant. Michigan was chosen over competing sites in New Jersey, Nebraska and Illinois.
“We are thrilled to be expanding our presence in the city of Ann Arbor,” said Marv Adams, executive vice president and chief operating officer, TD Ameritrade Holding Corporation. “The city of Ann Arbor has a flourishing technology and business community that we want to continue benefiting from and contributing to. We’re looking forward to our planned expansion and bringing on additional talent to our team.”
Ann Arbor SPARK, which has provided assistance to the company since it began to expand in this region, is currently helping the company recruit new hires.
“TD Ameritrade’s new technology location in downtown Ann Arbor is exciting: It means more people working, shopping, and dining in Ann Arbor, which adds to the vibrancy of our community and our economy,” said Paul Krutko, president and CEO of Ann Arbor SPARK. “What’s more, with its move to a new location, there’s now great space on the real estate market that’s ideal for another tech company. This cycle of moving in and moving up is a sign of a healthy economy.”
TD Ameritrade established its Ann Arbor technology facility in early 2014. Citing availability of talent and the range of sites available, the company chose to locate in Ann Arbor over competing sites in New Jersey, Nebraska and Illinois.
About Ann Arbor SPARK
Ann Arbor SPARK is a public-private partnership of business, government, and academic institutions working to create economic prosperity in the Ann Arbor area of innovation. It identifies and meets the needs of business at every stage, from start-ups to large organizations. Ann Arbor SPARK collaborates with business, academic, government, and community investor partners including the University of Michigan, Eastern Michigan University, Washtenaw Community College, Washtenaw County, Livingston County, the Ann Arbor/Ypsilanti SmartZone (LDFA), Washtenaw County etcs/Michigan Works!, the City of Ann Arbor, Bank of Ann Arbor and the Michigan Economic Development Corporation. For more information, please call (734) 761-9317 or visit www.AnnArborUSA.org.
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Pure Michigan is a brand representing business, talent and tourism initiatives across Michigan. These efforts are driven by the Michigan Economic Development Corporation, which serves as the state’s marketing arm and lead advocate for business growth, jobs and opportunity with a focus on helping grow Michigan’s economy.
For more on the MEDC and its initiatives, visit MichiganBusiness.org. For Michigan travel news, updates and information, visit michigan.org. Michigan residents interested in seeking employment with any of Michigan’s growing companies should check mitalent.org, where more than 97,000 jobs are currently available in a variety of industries.