MILWAUKEE — Fiserv, Inc. has announced plans to move its corporate headquarters from west suburban Brookfield to downtown Milwaukee.

The financial technology firm plans to open a 160,000 square foot facility in the city’s Westown neighborhood, in the HUB640 building, at 640 N. Vel R. Phillips Ave. It is located near The Avenue and 3rd St. Market Hall.

For the Westown neighborhood, which has seen major growth over the last decade, it is yet another win.

Stacie Callies serves as Executive Director for the Westown Association, which helps to promote the west area of downtown. Callies said the announcement shows the progress the area is making.

“It further solidifies the Westown neighborhood as the economic heart of the state of Wisconsin,” Callies said. “It continues the momentum that is happening in all sectors of our downtown neighborhood.”

While entertainment and dining sectors have grown substantially in recent years in Westown, corporate growth has been slower. With developments like the 3rd St. Market Hall and the growth of the Deer District, Callies said having a larger pool of workers in Westown will help these businesses to thrive.

“This is welcome news because we need those daytime numbers, a robust daytime economy to support those types of venues,” said Callies.

Fiserv has not yet indicated when it plans to make the move from Brookfield to downtown Milwaukee. The company said the move is contingent upon financial incentives from the City of Milwaukee, as well as the Wisconsin Economic Development Corporation.

The company has been based in Brookfield since the 1990s.