Davis

Rendering of Future Office of Northern Trust in Tempe

Kathy Ritchie

Future Site of Northern Trust

Tempe announced its adding yet another company to its roster of big name businesses. Northern Trust, a financial services company, is expanding its current operations by building a new office, and it is promising to create 1,000 jobs in the next three years.

An oversized crane and a few construction beams occupy the site of the future home of Northern Trust. Tempe Mayor Mark Mitchell was on hand to deliver the news to a small audience… that after much hard work, Northern Trust would open a new operating center and employ a thousand people in the coming years. Besides jobs, which will likely range from entry level to management positions, Mitchell said something else:

"My understanding is that the average salary for the jobs that will be here in Tempe is $82,000 a year," he said.

To put that into some context, the U.S. Census reports the median household income in the Phoenix metro area is about $52,000.