TEMPE, Ariz., Nov. 12, 2019 /PRNewswire/ -- Silicon Valley Bank
(SVB), the bank of the world's most innovative companies and their
investors, today announced its expansion in Arizona. The bank has secured an additional
60,000 square feet of office space in Tempe that it will move into in Q1 2020 and
aims to grow its presence by more than 300 employees in the next
three years.
"We're pleased to expand our presence in Arizona and continue to attract outstanding
talent from the Tempe region,"
said Phil Cox, Chief Operations
Officer at Silicon Valley Bank. "At SVB, we have the opportunity to
grow and collectively make an impact on the world by supporting the
innovative clients and communities we serve. Our world-class team
in Arizona is the engine for SVB's
continued growth domestically and internationally."
Silicon Valley Bank serves innovative companies and their
investors around the world, from life science to healthcare,
venture capital to private equity, and tech to non-profit. SVB
banks half of all venture-backed companies in the U.S. and is one
of the fastest-growing companies in the world. By providing
innovative banking products with an entrepreneurial spirit and
supporting community causes that align with its values, SVB fosters
innovation all over the globe.
"Silicon Valley Bank's growing presence in Arizona is another sign of Arizona's expanding tech sector," said
Governor Doug Ducey. "We are proud
this company – recognized globally as a leader in technology and
business – has chosen Arizona to
expand, bringing more jobs and opportunity to our state."
"Silicon Valley Bank brings not only financial opportunities and
assistance to Tempe businesses,
including tech startups, it brings extremely good jobs to
Tempe," said Tempe Mayor Mark
Mitchell. "These positions use future-looking skills that
will keep Tempe on the leading
edge for our workforce. We appreciate the investment that Silicon
Valley Bank is making in Tempe for
our residents."
"We're thrilled that Silicon Valley Bank has continued to scale
its operation and create new Arizona jobs since it first established a
presence in Tempe in 2012," said
Sandra Watson, Arizona Commerce
Authority President & CEO. "When an industry leader like SVB
chooses to invest and grow significantly in Arizona, it speaks volumes about the skilled
talent, pro-business environment and incredible quality of life our
state offers."
"The available technology labor pool in Greater Phoenix is growing at rates that are
outpacing major hubs across the U.S.," says Chris Camacho, president & CEO, Greater
Phoenix Economic Council. "We're excited about Silicon Valley
Bank's continued investment in the region, reinforcing that this
market is where businesses with innovative ideas can scale and
succeed."
Silicon Valley Bank is currently located at Hayden Ferry
Lakeside near Tempe Town Lake and has more than 700 employees. With
the expansion, the company now has 190,000 square feet in the
Hayden Ferry Office Complex. The roles to be filled in the new
Tempe location include IT,
finance, operations and corporate shared services.
Learn more about SVB's career opportunities at svb.com/careers
and by searching #lifeatSVB on social media.
About Silicon Valley Bank
For more than 35 years,
Silicon Valley Bank (SVB) has helped innovative companies and their
investors move bold ideas forward, fast. SVB provides targeted
financial services and expertise through its offices in innovation
centers around the world. With commercial, international and
private banking services, SVB helps address the unique needs of
innovators. Learn more at svb.com.
About the Arizona Commerce Authority
The Arizona
Commerce Authority (ACA) is the state's leading economic
development organization with a streamlined mission to grow and
strengthen Arizona's economy. The
ACA uses a three-pronged approach to advance the overall economy:
attract, expand, create – attract out-of-state companies to
establish operations in Arizona;
work with existing companies to expand their business in
Arizona and beyond; and help
entrepreneurs create new Arizona
businesses in targeted industries. For more information, please
visit azcommerce.com and follow the ACA on Twitter at
@azcommerce.
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SOURCE Silicon Valley Bank