Fiserv’s development of a new global headquarters in downtown Milwaukee—including the creation of 250 new jobs—received a boost from up to $7 million in performance-based tax credits provided by WEDC.
“Fiserv is proud to call Wisconsin home, and we look forward to continuing to grow in Milwaukee’s vibrant downtown area,” said Frank Bisignano, Fiserv chairman, president, and CEO. “We are energized to create a new dynamic workplace experience where we will bring people together to further inspire innovation and collaboration and attract the best talent to serve our clients.”
Fiserv, a leading global provider of payments and financial services technology solutions, also received $11.6 million in tax increment financing assistance from Milwaukee.
“WEDC has added an important piece to finalize the Fiserv move to the center of our city. I remain enthusiastic about the company’s choice to grow in Milwaukee,” Mayor Cavalier Johnson said. “Fiserv is a valued part of Milwaukee’s economic future, and I look forward to welcoming the company’s headquarters and the hundreds of employees who will work here.”
Fiserv plans to move its headquarters from Brookfield, in suburban Milwaukee, to the heart of the city at 640 N. Vel R. Phillips Ave. The project will help retain and create a total of 980 jobs.
The company is expected to lease more than 150,000 square feet of space and invest about $40 million in site improvements. Its state-of-the-art campus will include a world-class client meeting and conference center, social and collaboration spaces, and culinary programming.
The project will receive the state Business Development Tax Credits if it meets capital investment and hiring requirements, which include creating more than 250 new jobs in the next five years.
“Fiserv is a global leader in payments and financial technology, which makes them a perfect fit among Wisconsin’s most innovative businesses,” said Missy Hughes, WEDC secretary and CEO. “Their decision to make Milwaukee their global headquarters is not only a win for the city, but one that will drive job growth and prosperity statewide. We are pleased to be able to assist them as they embark on this new chapter in Wisconsin.”
Economic development partnerships forged in Wisconsin were important as the project came together. WEDC worked with M7, the Milwaukee region’s economic development organization, to ensure Fiserv stayed in Wisconsin.