Even as declining investor interest in the market and increased efficiencies from the Web are leading fund firms to cut back on customer service reps and facilities, T. Rowe Price is keeping its commitment to its Tampa facilities.

The Baltimore, Maryland-based firm said that it has signed a 10-year lease with Crescent Resources for class A office space in Tampa, Florida to replace its current space in the city. The lease covers 60,608 square feet at Corporate Center Two at International Plaza, located at Lois Avenue and Boy Scout Boulevard. It starts August 1, 2002 and runs through 2012.

The firm currently runs an operations center with 400 employees at 4200 West Cypress Street. The operations center's 400 employees include customer service representatives (handling phone calls from individual investors and 401(k) participants), as well as financial planners, account managers, and sales staff, said the firm.

"We are very pleased to be renewing our presence in Tampa and staying in the Westshore business district," said David Healy, vice president and general manager of the Tampa office. "This central location is convenient for our Investor Center clients and has provided us access to outstanding employees from all of the surrounding counties."

"Tampa has been a good business location for us and this long-term lease demonstrates our commitment to the region, as well as to our local employees and customers," said Wayne O'Melia, president of T. Rowe Price Services. "The new space is also more efficient, making it easier to upgrade technology and giving us greater staffing flexibility in the future." 

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