(Bloomberg) -- AllianceBernstein Holding LP is boosting its investment in Nashville.
The asset management firm, which surprised Wall Street in 2018 with plans to relocate its headquarters to Tennessee, will add an additional 200 jobs in Music City, according to the state’s Department of Economic and Community Development.
As part of the expansion, AllianceBernstein will invest $11.4 million, bringing its total planned investment in the city to more than $80 million. The new jobs will be in various tech, operations and compliance roles, the state said in its statement.
The announcement comes about 18 months after the firm said it would move its headquarters out of New York City and bring 1,050 employees to Nashville.
“We are not yet at the original 1,050 roles, although the relocation is proceeding faster than anticipated.” the firm said in a statement. “We expect our relocation, including the additional 200 jobs, to be complete by 2024.”
The Tennessee capital, long known as the home of American country music, is in the midst of a development boom, with hordes of people and businesses flowing in since the end of the recession.
Amazon.com Inc. announced in 2018 it would open a $230 million facility in downtown Nashville, creating 5,000 jobs.
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