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Fidelity Investments to Build a New Operations Center in Albuquerque

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Fidelity Investments, one of the world’s largest providers of financial services, will locate a new 210,000-square-foot operations center at Mesa del Sol, a 12,900-acre, mixed-use project in Albuquerque, NM. Fidelity, which will create 1,250 new jobs in Albuquerque, will begin its local operations this year and occupy its facility at the Mesa del Sol site in late 2008. The new campus will house the expansion of Fidelity Human Resources Services which provides corporate clients with payroll, health and welfare, and human resources services.

“Fidelity’s selection of this location for a major facility reflects its great confidence in New Mexico’s workforce and the quality of life provided at Mesa del Sol,” said Michael Daly, president of Forest City Covington. “It also offers testimony to the successful collaboration of the public and private sectors, at both the local and state levels, to support economic development that will benefit the entire state.”

“The announcement by Fidelity has the potential to change the City of Albuquerque and the economy of New Mexico forever,” said Daly. “This means that there will be good-paying jobs for New Mexico’s college graduates. It’s going to have a positive and far-reaching effect on Mesa del Sol, the surrounding community and the state.”

Mesa del Sol is planned to be a true mixed-use district with a balance between economic development and housing. Over the next 35 to 50 years, Mesa del Sol is expected to have 18 million square feet of commercial space, including industrial, office and retail, as well as 37,500 residential units. Grading for the first residential lots is expected to get under way in March 2008. Model homes are scheduled to be offered for sale by mid-2009 with homebuyers moving in by late 2009.

Nevertheless, economic development initiatives have captured the spotlight in Mesa del Sol’s early stages. In 2006, the complex’s first structure was completed – an 87,000-square-foot research, development and manufacturing facility for Albuquerque-based Advent Solar, Inc., a leading manufacturer of innovative solar cells and modules.

A key artery – University Blvd. – was completed in October 2006, providing sufficient infrastructure to support economic development activities as well as the first planned residential neighborhood.

In 2007, Albuquerque became an extension of Hollywood, as Pacifica Ventures developed Albuquerque Studios, a complex of eight large soundstages, production office space and more on 50 acres at Mesa del Sol. Albuquerque Studios provide production space, equipment and staff for the production of feature films and television series.

Since then, Sony Pictures Imageworks has announced plans for a 100,000-square-foot digital production facility at Mesa del Sol.

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