Kentucky Lands 700 New Jobs

Fidelity Investments announced plans yesterday to build a facility in Northern Kentucky that would bring about 1,500 jobs to Kentucky, about 700 of which are already at the company's Ohio facility, said Mandy Lambert, a spokeswoman for the Cabinet for Economic Development.

The mutual-fund and financial-services company is planning a 350,000-square-foot building on its campus in Covington that would combine its Midwest operations by 2007.

For its investment in Kentucky, Fidelity is eligible for up to $10 million in state tax breaks under the Kentucky Jobs Development Act, according to a press release. The state also has promised to build a $17.5 million, 1.7-mile connector road to the Fidelity campus.