GREEN BAY, WI (WTAQ) - Officials with Associated Bank's parent company say they intend to move their headquarters to downtown Green Bay.
"We have a little bit more work to do before our transaction is finalized," says Associated Banc-Corp President and CEO Phil Flynn. "But I think it's safe to say it's very unlikely we won't get this done."
What this is, is the purchase of the Regency Center building at 333 Main Street, with sights set on consolidating the corporation at that location.
"We've always wanted to consolidate people together," says Flynn. "The timing of the various buildings that we lease, they're all expiring within the next year, makes this easy for us to do."
The move will re-locate 350 jobs from Ashwaubenon, where the company has been based for 14 years. Associated Bank would also invest $4 to $6 million in major renovations to the six-story building.
Associated Bank expects about 65 employees to move into the new facility near the end of June, as the first of several waves. Other employees would be phased in after, as renovations on each floor are completed.
"Our downtown momentum continues with the latest commitment of Associated Bank," says Green Bay Mayor Jim Schmitt. "With the addition of such a strong, healthy corporation like Associated Banc-Corp, the city of Green Bay is truly becoming a destination for corporate headquarters."
Schrieber Foods is currently constructing their brand new corporate headquarters in downtown Green Bay.
It's unclear at this point what, if any, current tenants of the Regency Center would remain after the deal is finalized.