JERSEY CITY - Fidelity Investments opened on Tuesday a new regional facility in Jersey City’s Newport section. The company is leasing a 185,000 square foot office space in the Newport Office Centre and has already invested $30 million to outfit the new space.
About 600 current Fidelity employees will work out of the Newport office.
Fidelity provides investment management, retirement planning, portfolio guidance, brokerage, and other financial services. Fidelity established a presence in the tri‐state region in 1981 and expanded its operations to Jersey City’s Harborside Financial Center in Jersey City in 2002.
According Fidelity officials, the firm selected Jersey City for its new regional office for a number of reasons. As a financial services hub, the region offers access to skilled workers. In addition, the Newport site provides such amenities as public transportation and close proximity to a broad range of amenities. The local business climate also made Jersey City an attractive choice, according to Fidelity officials.
“Fidelity has long been an important and contributing member of the New Jersey business community,” said Mayor Jerramiah T. Healy. “Their decision to consolidate their workforce in Newport Centre speaks to our welcoming business climate, proximity to services, and ongoing willingness to partner with firms like Fidelity that power the state’s economic engine.”
The Newport Office Centre is owned and managed by LeFrak & Associates. “I’d like to formally welcome Fidelity Investments to its new home in Jersey City,” said Congressman Albio Sires (D-13th Dist.-NJ). “New Jersey has long been a vital part of the financial services industry and I have no doubt that this will be a long‐term and mutually beneficial relationship for your associates, your clients and the City.”
To celebrate the move to Newport Centre, Fidelity presented a $5,000 donation to the York Street Project, one of Fidelity’s community partners.
Based in Jersey City, the nonprofit York Street Project provides housing, education, counseling, and other assistant to low-income single mothers. The organization assists approximately 300 economically disadvantaged woman each year.