Victory Capital plans to move its corporate headquarters for its Global Investment Management Business from Cleveland, OH to San Antonio, TX after being courted by local economic development leaders. The move follows a November 2018 announcement that Victory Capital will acquire San Antonio-based financial services provider USAA’s Asset Management Company.
“San Antonio will play an important role in the future growth of our organization. It will enhance our ability to access new pools of talent and further develop the technology and operational platforms that support our integrated multi-boutique business model,” said David Brown, Chairman and Chief Executive Officer for Victory Capital.
“We believe that San Antonio offers our employees the opportunity to live in an innovative and culturally rich city with an exceptional climate and competitive cost of living,” he added. “We are excited to join the community.”
Victory Capital intends to relocate several senior level executives as part of the headquarters move, in addition to creating new jobs and retaining employees in the city.
“This project represents a new innovative company headquarters and the retention and creation of high-wage jobs for our community,” said City Manager Sheryl Sculley. “Adding another headquarters to our portfolio of national companies is a testament to San Antonio’s attractiveness, including our exceptional quality of life, affordability, and rich and diverse workforce.”
On January 17, the city council will vote on an incentive package that includes an Economic Development Incentive Grant of $500,000 to secure the relocation of Victory Capital’s headquarters and retention of existing high-wage jobs.
“From financial services and cybersecurity, to manufacturing and bioscience, more companies are realizing their headquarters growth potential in San Antonio. We’re proud to welcome Victory Capital to San Antonio and stand ready to support your future growth in our community,” said Ron Nirenberg, Mayor of the City of San Antonio.
Bexar County is also considering an incentives package which includes a $250,000 Economic Development Grant to support Victory Capital’s relocation and planned growth.
“All our economic development wins are hard-fought and important, but landing a corporate headquarters for a publicly traded company is especially valuable. For example, Victory’s HQ will bring many executive-level positions with exceptional salaries, which also means real career advancement opportunities for our local workforce to aspire for those positions,” said Bexar County Judge Nelson Wolff.
“We welcome Victory Capital to San Antonio, joining a strong base of financial services organizations,” said David McGee, Chairman of the San Antonio Economic Development Foundation. “It’s an exceptional time to join our San Antonio community, one of the fastest-growing cities in the U.S. with its sights set on an economically healthy and prosperous future.”
Relocating or Expanding Your Business In Texas
Considering Texas for your company’s relocation or expansion project? Check out Business Facilities’ Texas Incentives and Workforce Development Guide.