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EQ Locates Operations Center in Milwaukee, Wisconsin

01/15/2019
EQ, a Minnesota-based financial services and corporate services company, is establishing operations in Milwaukee, Wisconsin. The project is expected to create 180 jobs on the city’s northwest side.

The company, established in 1929, provides a range of transfer agent services that enable clients to manage share registers, communicate with shareowners and undertake significant corporate actions, simply and effectively. Formerly known as Wells Fargo Shareowner Services, EQ is part of an international organization that services 23 million shareholders and more than 1,200 clients worldwide.

EQ will occupy 116,000 square feet at the Parkland Center building at 11200 W. Parkland Ave. on the city’s far northwest side. The facility will house client services operations and a data center, and will serve as a “redundant site” for the company’s headquarters in Mendota Heights, Minnesota. A redundant site is a facility that is capable of handling all operations if the primary site fails.

“Milwaukee is a fabulous city with a talented and diverse workforce. We know that this facility, along with the future staff, will become a strategic asset to our organization as we support our clients in exceeding their goals. We look forward to becoming an integral part of the community,” said Todd May, CEO of EQ.

To secure the company’s investment in Wisconsin, the Wisconsin Economic Development Corporation (WEDC) has authorized EQ to receive up to $1.25 million in tax credits over the next three years. The actual amount of credits the company will receive is contingent upon the number of jobs created and the level of capital investment over that time.

“As a global company, EQ had numerous options for this investment and we thank company leaders for their commitment to Wisconsin and for creating 180 family-supporting jobs in Milwaukee,” said Mark R. Hogan, Secretary & CEO of WEDC, the state’s lead economic development organization. “EQ is the latest company to establish or expand operations in Wisconsin because of the state’s outstanding business climate and dedicated workforce.”

“EQ is a welcome addition to this city’s business community. The company conducted a thorough evaluation of sites outside of this region, and in the end selected Milwaukee,” Mayor Tom Barrett said. “EQ knows it will find a capable workforce, a reasonable cost of conducting business and a great quality of life here in Milwaukee.”

“We are delighted that EQ has selected Milwaukee from among several competing locations for this sizeable operation,” added Jim Paetsch, Vice President of the Milwaukee 7 regional economic development organization. “EQ will add to our strong roster of financial services companies domiciled in southeastern Wisconsin. This investment affirms the attractiveness of the region as a destination for global investment.”

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