The investment advisor of the billionaire family that controls Fidelity Investments has filed plans with a small town in New Hampshire to build an office building in the small town of Salem, N.H.
The plans, if approved, would supercede plans already proposed by the property owners for a major office complex on the site that would employ 875 people, according to a story in the Boston Herald.
The Crosby Group, which manages billions for Ned Johnson and his extended family, has proposed a three-story office building in Salem, just across the border from Massachusetts. It has rented space in the area after moving from Boston to take advantage of New Hampshire's favorable trust laws.
The Johnson family members are controlling shareholders for Boston-based Fidelity Investments. The Crosby Group stressed this is not a Fidelity proposal.
About 200 employees would be employed at the office site, located in a secluded wooded area of Route 93. The plans, which would require an expansion of local roads, need approval from the Salem Planning Board.