Just months after T. Rowe Price decided not to open offices in Pasco County, it looks like Raymond James Financial will take a step back from its expansion north.
Paul Reilly, Raymond James’ chief executive, told reporters during a recent symposium that while the St. Petersburg-based financial company is delaying plans up to five years, Raymond James is still coming to Pasco.
“Our plan always been and will continue, we will close on the Pasco land,” Reilly said, according to the Tampa Bay Business Journal. “We think it’s a great site over time, but right now, we don’t need the space, and when we need the space, we’ll look at expansion there or see what happens to our other facilities.”
Pasco County commissioners earmarked $10 million to lure Raymond James to the Wiregrass Ranch area, not far from Florida Hospital Wesley Chapel, which the company added to $5 million in state incentives. The plan was to build two 100,000-square-foot buildings on Wiregrass Ranch Boulevard, that would create 750 jobs in the county by 2024, and at least 100 by this year.
Two years ago, state Rep. Will Weatherford said he expected Raymond James to start construction by that fall, and eventually have up to 1 million square feet of space in Wesley Chapel.
“It’s going to change the game,” the Wesley Chapel Republican said at the time.
Once it was ready to start construction, Raymond James would close on 65 acres of vacant land. The company has had that land under contract since 2011.
