Financial technology company Nasdaq, Inc., announced it will invest $6.2 million in its Philadelphia operations, buoyed by a $710,000 investment by the state.
Gov. Josh Shapiro announced Nasdaq’s investment on Wednesday. The money will be used to continue operations at Nasdaq PHLX, the nation’s oldest stock exchange, founded in 1790. Shapiro said Pennsylvania will invest in support the creation of 100 new, high-paying positions over the next three years, as well as retaining 150 existing full-time jobs. The investment includes a long-term lease extension on the company’s headquarters at Center City Philadelphia, as well as on upgrades to trading technology and workplace infrastructure, the company said.
“Leading global companies are choosing Pennsylvania because they know we have the workforce, infrastructure, and business climate they need to succeed,” Shapiro said. “My Administration will continue competing aggressively for investments that create good-paying jobs and private sector investment to ensure the Commonwealth remains a place where businesses can grow, and families can build a brighter future for generations to come.”
Nasdaq received a funding proposal from the Department of Community and Economic Development for the $710,000 Pennsylvania First grant.
“Philadelphia has been a home to American markets since 1790, and Nasdaq PHLX — the nation’s oldest stock exchange — is a proud part of that legacy. This investment reflects our confidence in Philadelphia and our long-term commitment to the region —growing our presence, creating new jobs, and investing in the talent and operations that will support our business for years to come,” Tal Cohen, president of Nasdaq, said. “We’re grateful for Governor Shapiro’s partnership and his administration’s ongoing commitment to making Pennsylvania a destination for world-class companies.”