[Congressional Record Volume 168, Number 50 (Monday, March 21, 2022)]
[Senate]
[Page S1269]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                         ADDITIONAL STATEMENTS

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             RECOGNIZING T. ROWE PRICE GLOBAL HEADQUARTERS

 Mr. CARDIN. Mr. President, I would like to take this 
opportunity to congratulate T. Rowe Price and its development team on 
moving forward on building its new global headquarters in my home State 
of Maryland. T. Rowe Price has offices in 16 countries, but continues 
its long-standing commitment to Maryland by building its new global 
headquarters, with its thousands of employees, in Baltimore--what a 
wonderful testament to Baltimore.
  I am proud that T. Rowe Price has been a great partner in the areas 
of retirement security policy and innovation as I advance legislation 
to create a more robust retirement system for all Americans. This is no 
surprise given the founding mission of the company. In 1937, Thomas 
Rowe Price sought to create an organization ``with a reputation for the 
highest character and soundest investment strategy.'' In the 1950s, T. 
Rowe Price focused on growing their research in the area and greatly 
expanded their associate ranks in the 1960s. From the beginning, T. 
Rowe Price has been client-centered and collaborative in its research. 
T. Rowe Price grew from a five-person firm serving local clients to a 
300-person firm serving clients nationwide. This is the type of 
entrepreneurship we strive to support and encourage at the Small 
Business Committee. In 1979, T. Rowe Price launched its international 
joint venture with Robert Fleming, which expanded T. Rowe Price into 
several locations around the world.
  It is an honor that even through the phases of expansion, T. Rowe 
Price has maintained its long tenure in Maryland, starting with its 
headquarters in Baltimore at 10 Light Street in the 1930s and 
continuing its presence in Baltimore by investing in a new global 
headquarters at Harbor Point as part of the historic redevelopment of 
the area. In addition to the building's contribution to developing a 
long unoccupied space in downtown Baltimore, the headquarters will be 
LEED-certified with high environmental standards, contributing to a 
sustainable Baltimore.
  As T. Rowe Price continues to help clients reach long-term financial 
goals, including a stable and dignified retirement, it utilizes 
technological advancements to ensure the firm reaches as many people as 
possible. In 2017, T. Rowe Price celebrated its 80th anniversary of 
serving Marylanders and people across the globe. I have heard from 
countless Marylanders about the positive impact this company has had on 
their communities. Not only through their intentional presence in the 
State and their sound financial strategy, but also through their 
charitable giving and initiatives. John Brother, president of the T. 
Rowe Price Foundation and T. Rowe Price Program for Charitable Giving, 
stated that, ``The communities we support all have great assets and 
needs. To ensure our resources are channeled to create the best 
possible outcomes, we consult with local leaders and community 
organizations to get an informed perspective. We emphasize three 
pillars--education and youth development, human services, and arts and 
culture.''
  To that end, T. Rowe Price has provided charitable giving to a range 
of projects with a strong focus on financial literacy. T. Rowe Price 
has published its Parents, Kids, and Money Survey for more than 10 
years in order to help families work together to improve their money 
management skills. The survey explores the basic financial knowledge, 
attitudes, and behavior of both parents and their children to promote 
better spending and saving habits. Maryland is grateful for the 
company's continued commitment to investing in Baltimore and 
Marylanders alike.
  I look forward to seeing T. Rowe Price's continued impact in Maryland 
for decades to come, both in ensuring a strong retirement system and 
through ongoing and new projects that support Baltimore and Maryland 
communities. Congratulations to T. Rowe Price on moving forward on 
building its new global headquarters.

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