WAUSAU, WI (WSAU) — During Tuesday night’s council meeting the committee will be discussing a development agreement with Liberty Mutual Insurance Company of up to 4.95 million dollars on a new 50 million dollar building the company is planning on building in Wausau.
Interim Economic Development Director, Chris Schock, says the money from the city will go towards improving the property as they get ready to build.
“It only happens if they invest this money and make these significant improvements to the property,” Schock said. “And they’ll use that increment to justify the work at this site and to fund all the improvements that are required.”
He also says the 50 million dollar building is a big deal for Liberty Mutual and the city of Wausau as well.
“This is a 50 million dollar building, which is one of the most valuable buildings ever built within the city by far. And so, it’s obviously a big deal for us, a big deal for the taxpayers, and obviously a big deal for Liberty Mutual for retaining the jobs here long-term,” he said.
Liberty Mutual has said that the new building will be home to 900 jobs.
