KPMG LLP has begun construction on a $400 million, 55-acre facility for learning, development and technology innovation in Orlando, Florida.
KPMG announced plans in January to construct the facility within Orlando’s Lake Nona community. The campus will include 800,000 square feet of space for classrooms, meeting rooms, residences and dining. KPMG hopes to complete construction by the end of 2019.
“This campus is our firm’s largest capital investment ever,” said KPMG chair and CEO Lynne Doughtie in a statement. “More than that, it’s an investment in our people. Today marks a major milestone toward creating a world-class environment that inspires our professionals to achieve their fullest potential and helps enable our firm to attract and retain the best talent.”
The facility will highlight new technologies and include an innovation center for training and client meetings. A heritage center on the site will showcase the firm’s history.
KPMG is receiving tax exemptions worth approximately $3.5 million from Orange County for the site, according to the Orlando Sentinel. The firm plans to generate 80 new jobs for operating the facility, along with 330 more jobs in Florida for servicing audit, tax and advisory clients. KPMG already has 700 employees in its existing offices in Florida, in Orlando, along with Tallahassee, Jacksonville, Tampa, Fort Lauderdale and Miami.
Florida Governor Rick Scott welcomed the start of construction on the new facility. “I am proud to celebrate the groundbreaking of KPMG's new facility and the creation of 330 new jobs,” he said in a statement. “KPMG is a global company with an incredible presence in our state and today's announcement shows how important it is to do all we can to fight for these major jobs wins. We are competing at a global scale, and we will keep working with our economic development partners from across the state to help create new opportunities for our families. I look forward to seeing this new facility and welcoming KPMG employees from across the nation to our great state.”
Other firms have also been investing in training and technology facilities in recent years, including Deloitte, which opened Deloitte University in Westlake, Texas, in 2011. CohnReznick opened an Innovation Lab in New York last year for showcasing new technology to clients.
Register or login for access to this item and much more
All Accounting Today content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access