Fidelity to expand operations in New Mexico

Fidelity Investments of Boston will expand its human resources business to a new location in Albuquerque, New Mexico this spring.
Plans are underway to construct a 210,000-square-foot facility to become a new operations center for Fidelity’s Human Resources Services Co., which is headquartered in Marlborough, Mass.
The company plans to hire 300 new employees by the spring and up to 1,250 people over the next five years.
Only a very small number of employees will be relocated, said Fidelity spokesman Terry Chlan.
The division’s headquarters will remain in Marlborough.
Fidelity expects to move into the new building by December of 2008. In the interim, the operations center will be housed at the University of New Mexico.
The Human Resources Services Co. provides a variety of services to corporations including: payroll, health and welfare benefits programs and administration, human resources services and services for recruiting and retention of employees.
Currently there are some 4,500 people employed in the human resources unit.
In the past two years, Fidelity Investments has expanded its operations in a number of states including Rhode Island, Florida, North Carolina and Texas.
New Mexico was an attractive location because the state offered a tax incentive and a high quality labor pool, said Mr. Chlan.
At the end of 2007, Fidelity employed 46,500 people worldwide, which included more than 9,000 new hires last year.

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