Special legislative session includes incentive to keep Fiserv in state

Company considering four area sites for its corporate HQ

Gov. Scott Walker’s call of a special session of the state Legislature on Aug. 1 to consider an incentive package to bring Foxconn to Wisconsin will also include review of a financial incentive to attempt to keep Brookfield-based Fiserv Inc. from moving its corporate headquarters out of the state.

The bill would authorize the Wisconsin Economic Development Corp. to certify enterprise zone tax credits to a financial services technology business after the company completes a competitive corporate location process and retains at least 93 percent of its full-time employees in the state.

The Fiserv headquarters in Brookfield.

WEDC spokesman Mark Maley said under current law, the agency is only allowed to create enterprise zones for projects with job creation. He said the project related to this provision would also include capital investment.

While the legislation does not specifically mention Fiserv, the legislation is likely referring to the company.

Fiserv has been considering proposals from several real estate developers since April to develop a 120,000 to 150,000-square-foot Class A office building for its new corporate headquarters.

Fiserv had $5.5 billion in revenue in 2016, and has about 23,000 employees at 120 global offices.

Fewer than 4 percent of the company’s employees are in Brookfield. The global company has approximately 2,000 of its employees in Alpharetta, Georgia at a location that it recently expanded.

Fiserv is expected to make a decision soon on its new corporate headquarters location.

The Fortune 500 financial services technology developer has narrowed its search to four locations, according to numerous commercial real estate sources. The four area sites the firm is eyeing, according to sources are:

  • The Corridor development in Brookfield, which is being developed by Milwaukee-based Irgens.
  • UWM Innovation Campus in Wauwatosa. The building would be developed by Milwaukee-based Weas Development.
  • Schlitz Park in downtown Milwaukee.
  • Reed Street Yards in Milwaukee, where Fox Point-based General Capital Group has been developing a water technology business park.

Developers of each of the sites have declined to comment.

Fiserv could also opt to simply stay put at its current location, 255 Fiserv Dr., located off of North Corporate Drive in the Brookfield Lakes Corporate Center in Brookfield.

BizTimes reporter Arthur Thomas contributed to this report.

Gov. Scott Walker’s call of a special session of the state Legislature on Aug. 1 to consider an incentive package to bring Foxconn to Wisconsin will also include review of a financial incentive to attempt to keep Brookfield-based Fiserv Inc. from moving its corporate headquarters out of the state.

The bill would authorize the Wisconsin Economic Development Corp. to certify enterprise zone tax credits to a financial services technology business after the company completes a competitive corporate location process and retains at least 93 percent of its full-time employees in the state.

The Fiserv headquarters in Brookfield.

WEDC spokesman Mark Maley said under current law, the agency is only allowed to create enterprise zones for projects with job creation. He said the project related to this provision would also include capital investment.

While the legislation does not specifically mention Fiserv, the legislation is likely referring to the company.

Fiserv has been considering proposals from several real estate developers since April to develop a 120,000 to 150,000-square-foot Class A office building for its new corporate headquarters.

Fiserv had $5.5 billion in revenue in 2016, and has about 23,000 employees at 120 global offices.

Fewer than 4 percent of the company’s employees are in Brookfield. The global company has approximately 2,000 of its employees in Alpharetta, Georgia at a location that it recently expanded.

Fiserv is expected to make a decision soon on its new corporate headquarters location.

The Fortune 500 financial services technology developer has narrowed its search to four locations, according to numerous commercial real estate sources. The four area sites the firm is eyeing, according to sources are:

  • The Corridor development in Brookfield, which is being developed by Milwaukee-based Irgens.
  • UWM Innovation Campus in Wauwatosa. The building would be developed by Milwaukee-based Weas Development.
  • Schlitz Park in downtown Milwaukee.
  • Reed Street Yards in Milwaukee, where Fox Point-based General Capital Group has been developing a water technology business park.

Developers of each of the sites have declined to comment.

Fiserv could also opt to simply stay put at its current location, 255 Fiserv Dr., located off of North Corporate Drive in the Brookfield Lakes Corporate Center in Brookfield.

BizTimes reporter Arthur Thomas contributed to this report.

Comments

  1. The Sheriff says:

    I mean let’s roll out the red carpet for this job creating entity. So far they have created 96% of their jobs OUTSIDE of Wisconsin and now we want them to not create any new jobs, but simply “retain” 93% of their existing jobs.

    Here’s a better plan…tell Fiserv and their local executives to find a market rate place right here in SE WI or put the for sale signs on their houses, relocate their kids, and pack their bags because we are all outta money. It’s clear they have never really been invested locally so why should we “invest” in them.

    Nothing but another big corporate welfare handout for a company that clearly doesn’t need it.