Latest news with #ProjectTurtle
Yahoo
23-04-2025
- Business
- Yahoo
Kansas unveils mystery company getting historic perks for jobs in Johnson County
The mysterious Project Turtle is now out of its shell. Kansas Gov. Laura Kelly announced this week that Fiserv, Inc., a Milwaukee-based payment and financial services technology company, will be moving into Overland Park's Aspiria Campus, formerly Sprint, and bringing thousands of high-paying jobs. The previously secret plans come as a result of a deal that the company and the state department of commerce describe as the 'largest office recruitment in Kansas history.' 'Fiserv's new strategic hub in Overland Park is a significant step forward as we continue to elevate Kansas to new heights,' Kelly said in a statement Monday. 'Fiserv will create high-value career options including opportunities for military personnel transitioning to civilian life and graduates of our higher education system.' Kansas is giving Fiserv more than $154 million in state incentives over the next 10 years to bring the project — and the jobs it promises — to Johnson County. The state perks for the company include $20 million from Kansas' Job Creation Fund, which is the largest allocation Kansas has ever awarded from that fund, according to a release from the Kansas Department of Commerce and Fiserv. The Fortune 500 company has committed $175 million in private investment for the project and will renovate 427,000 square feet of space across two Aspiria Campus buildings, according to the release from Kelly's office. Overland Park city documents and a press release from the city's Chamber of Commerce said Fiserv would be investing $50 million less, or $125 million in the project. But Matt Lowry, a spokesperson for the Kansas Department of Commerce confirmed in an email that the $175 million investment is correct. The company promises to bring approximately 2,000 jobs to the state with an average salary of $102,000. City documents said the average salary would be higher, at $125,000. 'Overland Park is still in negotiations related to local incentives and we cannot comment on the number being used,' Lowry said. 'The $101,940 average wage figure is data provided by Fiserv used to qualify the company for state incentive programs.' With future expansion plans, the company's new financial tech hub is expected to contribute up to $4 billion in payroll for its future Kansas employees over the next decade, according to a release from the Kansas Department of Commerce and Fiserv. 'We are thrilled to expand our U.S. footprint, bringing our people together to drive innovation on behalf of our clients,' said Frank Bisignano, Fiserv's chairman and chief executive officer. 'Working with local and state leaders, we are committed to driving growth and prosperity for both Fiserv and Kansas while contributing to the vibrancy of the Overland Park community.' Mayor Curt Skoog and city staff worked with the Overland Park Chamber of Commerce's Economic Development team and the Kansas Department of Commerce to attract the project to Kansas City's largest suburb. But prior to Kelly's announcement, details were unknown. The proposal, dubbed as Project Turtle, kept the company's name and details under wraps. The Overland Park Chamber of Commerce signed nondisclosure agreements and city officials couldn't disclose details of the project, despite the developer asking for a 10-year property tax rebate on property taxes paid for its leased space. 'We are proud to welcome Fiserv to Aspiria and Overland Park. Overland Park is already a strong hub for business leadership, making Fiserv a natural fit in our community,' Skoog said in a statement following Kelly's announcement. 'The thousands of jobs Fiserv brings, along with the potential to serve neighboring businesses within our thriving community, is a significant win.' Fiserv plans to open its doors in two phases beginning in 2026.
Yahoo
21-04-2025
- Business
- Yahoo
Local tax incentives, Kansans' work ethic attract Fortune 500 company to Overland Park
Gov. Laura Kelly, pictured here with Lt. Gov. David Toland behind her in July 2022 after announcing the $4 billion Panasonic factory in De Soto, announced Monday the arrival of another major company in Kansas — Fiserv, which is expected to usher in 2,000 jobs in the next five years. (Sherman Smith/Kansas Reflector) TOPEKA — A Kansas City suburb rose to the top in a major e-commerce company's nationwide search for a new hub through hefty property tax incentives. Fortune 500 company Fiserv plans to open a new location in Overland Park, the Kansas governor's office announced Monday, touting the addition of 2,000 job and a 10-year, $6.5 billion economic impact. Gov. Laura Kelly's office called the deal the largest office recruitment in the state's history. Frank Bisignano, chairman and CEO of Fiserv, said the planned Overland Park hub is an opportunity to expand the company's footprint in the U.S. and foster innovation in the financial services field on behalf of its clients. 'The greater Kansas City metro area offers a dynamic environment with a growing population of tech talent, making it the ideal location for Fiserv's next strategic fintech hub,' he said. The company's announcement came less than a week after Overland Park's Finance, Administration and Economic Development Committee unanimously gave preliminary approval for a property tax rebate program for a 'Project Turtle,' which has been connected to Fiserv. The Overland Park City Council is set to take up the issue Monday, but the project has already earned Mayor Curt Skoog's unofficial approval. 'This is the biggest job-creating project that we've worked on in my time,' he said at the economic development committee's Wednesday meeting. In Skoog's 20 years of involvement with the city, he said, he has witnessed significant growth successes and attractive additions to the community 'But this one is a really, really amazing win for us,' he said. If approved, Project Turtle would receive a rebate on city, county and Blue Valley Recreation Commission property taxes. The company would pay full property taxes to the Blue Valley School District and the Johnson County Community College levies. Under the rebate agreement, taxes will be paid, and then the company would submit an application to the city to be reimbursed for about 40% of those taxes, or an estimated $1.3 million over 10 years of the company's 15-year lease. But the rebate is contingent on meeting certain conditions. Those conditions include a $125 million investment in renovations and improvements and maintaining 2,000 full-time employees by 2030. The governor's office said those employees will earn an average salary of $102,000 annually. The state anticipates Fiserv will contribute up to $4 billion in payroll investment over the next decade. The company also would be required to participate in community engagement, invest in memberships with the Overland Park Chamber of Commerce and the Overland Park Economic Development Council and commit to using Overland Park hotels and facilities for conventions and meetings. The governor's office said Fiserv has committed $175 million for the project but neither the office nor the Kansas Department of Commerce answered questions about the project's total cost or if state funds will be pledged. The economic development committee liked the idea of reusing existing space and increasing the long-term property value at the 200-acre Aspiria campus, which was considered at one point for a new location for the Kansas City Royals. After Sprint sold the campus in 2019, it was envisioned as a live-work-play environment tailored to businesses and entrepreneurs. It's one of the largest corporate campuses in the U.S., second only to Microsoft's campus in Washington state. Republican U.S. Sen. Jerry Moran and Democratic U.S. Rep. Sharice Davids lauded the deal. 'Kansas continues to attract top-tier businesses, and I look forward to welcoming Fiserv to Overland Park,' Moran said. Fiserv is expected to lease two buildings on the campus, totaling 427,000 square feet. The tax incentives are an 'important component' of the deal, said Alex Leath, an Alabama attorney with the international law firm Bradley Arant who helped bring Panasonic to De Soto. The Kansas City area wasn't initially a contender for Fiserv, Leath said. 'What I saw first and foremost — what I do see — is the quality of the people, the work ethic of the people,' Leath told the economic development committee. 'This is a company that expects people to be in the office five days a week … and Kansans struck me as people who would enjoy that, or embrace that.' Overland Park beat out Nashville, Phoenix, Dallas, Fort Worth, Atlanta and the South Florida area in the company's search. The governor said the new hub is making good on her administration's promise to 'modernize and diversify' the state's economy. 'Fiserv's new strategic hub in Overland Park is a significant step forward as we continue to elevate Kansas to new heights,' Kelly said. 'Fiserv will create high-value career options, including opportunities for military personnel transitioning to civilian life and graduates of our higher education system.' Fiserv chose Overland Park, the announcement said, because of its central location in the United States, proximity to clients in the Midwest, affordable cost of living and the opportunity to recruit talent in the tech field. Tim Cowden, president and CEO of the Kansas City Area Development Council, called the investment 'monumental.' He added: 'And so is the Kansas City region's ability to deliver.' The Kansas City area has the capacity and competitiveness to rise to the occasion, he said, which he attributed to a 'fast-growing tech sector,' a cache of talent and a prosperous, collaborative business community.
Yahoo
17-04-2025
- Business
- Yahoo
OP committee approves rebate for Fortune 500 company's ‘Project Turtle'
OVERLAND PARK, Kan. — An Overland Park campus recently rumored to be a potential new home for the Kansas City Royals will likely be getting a Fortune 500 company instead. Details of 'Project Turtle' were discussed publicly for the first time Wednesday during Overland Park's Finance, Administration and Economic Development Committee meeting. Overland Park's Mayor calls it the city's biggest project to create jobs in the past two decades. Since Sprint sold its campus at 115th and Nall in 2019, when many jobs moved out and then the pandemic, there have been questions about whether the massive office space center would get another new major tenant. Kansas City tow company hit with new charges in Platte County: records Behind the scenes, the same attorney who helped connect Panasonic with De Soto, Kansas, had been working on the slow-moving relocation dubbed 'Project Turtle.' Looking for what was described during Wednesday's meeting as new regional operations hub for a Fortune 500 company, Alex Leath said the company didn't initially have the Kansas City area on its considered Phoenix, Dallas, Atlanta and Nashville, and South Florida, but wanted to relocate to somewhere it wouldn't face resistance of workers going into the office. 'What I do see is the people, the quality of the people, the work ethic of the people,' Leath, an attorney with Bradley Arant, told the committee. The committee was asked to approve a property tax rebate expected to be worth about $1.3 million over 10 years of the proposed 15-year lease. In return, the Fortune 500 company promises 2,000 jobs with an average annual salary of $125,000. It would lease 420 thousand square feet of the Aspiria campus and commit to a $125 million capital improvement project of two of the buildings. 'If this is a company we want to attract to our community, if we want these good jobs, if we want to prevent the Aspiria campus from being blighted, this partnership is really necessary to bring this opportunity,' Councilwoman Melissa Cheatham said. Kansas court declines to rule on constitutionality of death penalty but finds defects Asked what the proposed lease meant for the prospects of trying to entice the Royals to also come to town, Mayor Curt Skoog remained concentrated on the pending project. 'Overland Park, we are an office town, and we are always excited to announce bringing in new employers to help our residents and region to have high-quality jobs. That's what we are continuing to do,' Mayor Skoog said. The agenda item needs full Council approval on Monday. Project Turtle would then also work to finalize an incentive package with the Kansas Department of Commerce before signing a lease and announcing the company behind the project. The tax rebate only applies to Overland Park, which gets about 40% of property tax revenues. The Blue Valley School District and Johnson County Community College would still get their full share of property taxes. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
