Cathie Wood will be taking her show on tour. ARK Investment Management LLC released a Wednesday press release announcing that its headquarters would be moved to Florida starting November 1, 2021.
According to the company, the company will also be constructing the “ARK Innovation Center” after the move. According to the release, the facility’s purpose is to “retain top talent by supporting entrepreneurs in St. Petersburg or the Tampa Bay region,”
The press release stated that ARK believes its relocation and the Center will help it grow its business, as it redefines the asset management industry and increases collaboration between the communities focused on innovation at both the local and national level.
Cathie Wood said: “We are delighted to relocate our corporate headquarters from St. Petersburg to Florida as we believe that the Tampa Bay region’s talent and innovative spirit will accelerate our growth efforts.”
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“ARK isn’t a Wall Street asset management company. We are excited to break the mold by moving to St. Petersburg, a city that invests in science, technology, and innovation. She said that the ARK Innovation Center and our relocation will enable us to be more creative and impact the broader community, while also shining a light on the technological advancements and creativity permeating Tampa Bay.
Jana Haines is ARK’s Chief Strategist Officer. She said that Tampa has been named the best emerging technology city in America and that the broader region, including St. Petersburg, is among the top areas for STEM professionals. It has a wide network of universities, incubators and entrepreneurs that are all dedicated to advancement.
According to the press release, the ARK Innovation Center will be open in 2023. It could generate $127 million in revenue by 2026.
The incubator, ARK Innovation Center, will open in July 2023. It will be situated on 2.5 acres donated to the Innovation District by the City of St. Petersburg at 4th Street South and 11th Avenue South. The expected 1,265 indirect and direct jobs will mean that the building, 45,000 square feet, will have a $28 million impact on the county by 2026. It is expected that its graduates and clients will generate $127 million annually in revenue.
J.P. DuBuque is the President & CEO, St. Petersburg Area Economic Development Corporation. He stated that ARK “represents the community of innovators, disruptors thriving here in St. Pete, especially in the financial sector.” We are extremely proud that ARK chose to not only join us, but also to invest in the St. Pete community.