The CFA Institute will develop the soon-to-be former site of the Martha Jefferson Hospital in downtown Charlottesville to open an operations center.
The institute plans to spend $24.5 million to establish the center and will create 45 new jobs.
The institute plans to turn the property into a 136,000-square-foot Class A office space. The CFA Institute already employs more than 350 people in Charlottesville.
The CFA Institute administers the CFA (Charted Financial Analyst) and CIPM (Certificate in Investment Performance Measurement) exam programs around the world and sets performance-reporting standards for the investment industry.
“We look forward to continuing to run our global operations from the city, and to expanding our organization as we have done over the last fifty years,” Tim McLaughlin, CAO and CFO for institute, said in a statement.
Gov. Bob McDonnell approved a $200,000 grant from the Governor’s Opportunity Fund to assist Charlottesville with the project.
Martha Jefferson Hospital is moving from downtown to a $290 million new facility in Albemarle County.
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