Fiserv Inc. to move global headquarters to downtown Milwaukee

 

MILWAUKEE (CBS 58) ---- Hundreds of new jobs are coming to the city as Fiserv Inc. plans to move its headquarters to downtown Milwaukee.

The new location will be at 640 Vel Phillips Avenue, the HUB640 building and former Boston Store.

Fiserv will lease more than 150,000 square feet for its offices beginning next years. The financial tech company made the announcement Thursday morning.

The current headquarters location sits in Brookfield and has been there since 1992.

The global headquarters project is a $40 million investment and will add 250 jobs over the next five years, contingent on financing assistance according to the company.

Fiserv is the latest of a handful of companies to move from suburban Milwaukee to the city in recent years.

Mayor Cavalier Johnson says he's excited to welcome another global company. "I'm happy that Fiserv was able to come together with the property owner working in collaboration with the city and with my administration to make this deal come into fruition. Now we're going to add another Fortune 500 company to the city of Milwaukee," he said.

Fiserv Inc. sells financial technology for things like account processing and digital banking and holds naming rights for the home of the Milwaukee Bucks.

Mayor Johnson says the jobs this move will bring will help strengthen the city.

"When we add jobs like this, especially family supporting jobs, it leads us to stabilize folks, stabilize their lives, which then helps to stabilize their families, and helps to stabilize their neighborhoods which leads to the greater public safety that we want to see in Milwaukee," said Mayor Johnson.

An exact move date for Fiserv is not yet known. The building will also welcome a Kohl's department store on the first floor at the end of next year.