FIS, a global leader in financial services technology, received city and state approvals on an economic development package for plans to build a new, expanded world headquarters in Jacksonville, Florida.

The new headquarters building is expected to be 12 stories with approximately 300,000 square feet of space. FIS expects construction on the new headquarters to begin immediately after the closing and to take about two years to complete.

According to company officials, FIS has also entered into a real estate purchase agreement with Blue Cross and Blue Shield of Florida, Inc. to purchase the riverfront property located at 323 Riverside Avenue on which to build its headquarters. The agreement is subject to customary diligence and standard contractual closing conditions and is expected to close no later than the second quarter of 2020.

FIS will consolidate its current 601 Riverside Avenue headquarters as well as two additional Jacksonville-based facilities into the new headquarters building. The company plans to hire an additional 500 employees by 2029 to bring its Jacksonville workforce to approximately 1,800 employees.

“We are excited that FIS has chosen to expand its headquarters presence and employee base in Jacksonville,” said Florida Governor Ron DeSantis. “FIS is one of the world’s leading providers of financial technology and their commitment to building this new headquarters will stimulate the local economy and provide 500 high-wage jobs for Floridians. This important investment for our state and the Jacksonville community reaffirms Florida’s position as a hub for the financial services industry.”

“From the first day that FIS called this city home, Jacksonville has been a true partner in our ability to attract a world-class workforce and achieve our growth goals,” said Gary Norcross, FIS Chairman, President & CEO. “We would like to thank Governor DeSantis, Mayor Curry, and the many others in the state, the city and the community who have made this possible. We also want to thank CEO Pat Geraghty and Florida Blue for their collaboration in selling us the land for this project. This is an exciting day for FIS as we deepen our commitment to the Jacksonville community and continue our global mission to advance the way the world pays, banks and invests.”