Fiserv Inc. could receive up to $7 million in tax credits from the Wisconsin Economic Development Corp. to help the company move its corporate offices to downtown Milwaukee.
The tax credits are performance-based meaning Fiserv must meet some capital investment and hiring requirements including creating more than 250 new full-time positions during the next five years while retaining its current Wisconsin workforce of 980 employees.
Fiserv is planning on moving its global headquarters to 640 North Vel R. Phillips Ave., which used to house a Boston Store, with the help of $11.6 million from the city of Milwaukee through tax incremental financing district, which includes $4.6 million for public infrastructure improvements and $7 million for renovation costs.
“Fiserv is a global leader in payments and financial technology, which makes them a perfect fit among Wisconsin’s most innovative businesses,” said WEDC Secretary Missy Hughes. “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.”
[Adapted from: WEDC approves up to $7 million in tax credits for Fiserv relocation to downtown Milwaukee February 9, 2023 Milwaukee Journal Sentinel]