Associated Banc-Corp moving headquarters into Regency Center

GREEN BAY - A Green Bay area-based bank is moving its corporate headquarters to downtown Green Bay.

And Monday, Associated Banc-Corp reaffirmed what we reported last week.

How and when the company will move 350 workers from six area locations into the Regency Center on Main Street.

The empty space at the Regency Center office building will soon be buzzing with activity. Associated Banc-Corp is moving in.

"We will be bringing approximately 350 jobs back to downtown Green Bay, which are not here today. We're not adding people, or losing people, but we're relocating folks down here," said Philip Flynn, CEO, Associated Banc-Corp.

Associated Banc-Corp announced it will buy the mostly-empty office building.

It will invest $4-6 million to renovate the six-story tower.

"We have people scattered at our six different locations. We're driving all day long for meetings and such, so it just always makes sense to pull people together into one location if you can," said Flynn.

CEO Philip Flynn says the move will be gradual.

Green Bay Mayor Jim Schmitt says he is already working with current tenants who will leave when their leases run out.

"Initial conversations with them, they do want to stay in the downtown. We need to find, there's some quality places for them to look at. That's being done right now," said Schmitt.

"I think it's a great deal for us as a building owner. There's a vacancy in the building, so instead of trying to go lease up the space, here we can just sell it in one fell-swoop," said Bob Weyers, Regency Center manager.

And city leaders say this corporate move is the latest example of the growth in downtown Green Bay.

"You look at the Watermark, Schreiber, now we got Associated Banc-Corporate headquarters, and some of the smaller support businesses are starting to call more," said Schmitt.

"There are 30 businesses looking at downtown in our community. They are calling, thinking, I ought to be thinking about downtown," said Jeff Mirkes, Downtown Green Bay, Inc.

So what will the new building be called? Associated Banc-Corp says that is still up in the air. They do say they will start moving in this summer, and be open for business, sometime next year.

According to the company's website, Associated Bank has 270 offices in three Midwest states, and employs almost 5,000 people.