Vanguard recently announced that it will be opening an innovation center in Philadelphia by the middle of next year, a decision that may have been influenced by the efforts of the city’s mayor, Jim Kenney, writes Fabiola Cineas for Philadelphia Magazine.

The Malvern mutual-fund giant said that initially its Innovation Center will support a crew of 20 members, whose aim will be to become catalysts for new ideas and solutions. The exact location in the city for the center has not yet been decided.

Over recent months, Mayor Kenney has met with several companies that do not have offices in the city, but do have workers who live in Philadelphia, according to Sara Merriman, the city’s senior director of business attraction and retention.

While Merriman could not confirm whether the mayor has met with Vanguard, Kenney did comment on the decision to the magazine.

“We appreciate Vanguard’s initial decision to establish an innovation team in Philadelphia,” he said. “We will continue to work with them on the details.”

Read more about the future center in Philadelphia Magazine here, and check out previous VISTA Today coverage of Vanguard here.