Search for Nashville Real Estate. Banking giant UBS plans to bring 1,000 jobs to downtown Nashville, company and government officials announced today.
UBS is investing $36.5 million in a new shared-services center that will service the company’s wealth management and investment banking divisions. UBS plans to add the 1,000 high-paying jobs over the next five years. UBS currently employs about 300 people in two Nashville-area offices.
UBS officials declined today to confirm the location of its new downtown center, but spokeswoman Marsha Askins said the announcement could come early next week.
The Tennessean reported earlier this month that UBS planned to lease about 90,000 square feet in the building formerly known as Regions Center on Deaderick Street.
The expansion will be eligible for both state and local incentives, though officials have not yet placed a dollar sign on the incentive package.
Clint Bewer, spokesman for the Tennessee Department of Economic and Community Development, said the state is still working through details of the incentive package, which will come through the ECD’s FastTrack program. He said details should be finalized in “a matter of weeks.”
The FastTrack program has three components companies can be eligible for — job training, infrastructure development or economic development grants to support activities like retrofitting a building or moving equipment.
“Tennessee is on a roll,” ECD Commissioner Bill Hagerty said at today’s announcement, noting that this is the second 1,000-job announcement to come in as many months, alluding to Aramark’s recent Nashville announcement.
Mayor Karl Dean, also on hand for the announcement, said it’s worth noting that the UBS jobs will pay wages that are well above average for our region. He also called the news good for downtown, an area set to get a major boost from Dean’s recently announced Riverfront parks project.
- E.J. Boyer
- Staff Writer- Nashville Business Journal