Worldpay Taps Cincinnati for Headquarters
Worldpay, a global leader in payment processing, will reestablish a corporate headquarters in Cincinnati, bringing with it 500 jobs and an annual payroll of $56 million according to press reports.
"Worldpay was formed in 2018 by the merger of Vantiv and London-based Worldpay, creating one of the world's largest payment processors, handling $2 trillion in payment transactions last year, according to the company,” according to the Cincinnati Enquirer.
In addition to the new jobs, Worldpay has committed to retaining more than 900 existing jobs with a total payroll of $93.7 million at its new headquarters, according to the announcement from Ohio Governor Mike DeWine, Lt. Governor Jon Husted, JobsOhio CEO J.P. Nauseef, and Lydia Mihalik, director of the Ohio Department of Development, the article said.
The win for Ohio was the result of a competition among several jurisdictions, Ohio state officials said. In 2019, Worldpay was acquired by Jacksonville, Fla.-based Fidelity National Information Services Inc., which announced last summer that it had agreed to sell Worldpay to a private equity firm for $18.5 billion, according to the Enquirer.
"The Worldpay family is excited to make Cincinnati our home once again," stated Charles Drucker, who was CEO of Vantiv and will become CEO of Worldpay. "Access to talent, quality of life, great educational institutions and the new direct flight from CVG Airport to London significantly contributed to the decision to make our corporate headquarters in Greater Cincinnati, connecting us to our customers worldwide.”
The Ohio Tax Credit Authority has approved a 15-year, 2.389% tax credit valued at $20 million for the new headquarters, and JobsOhio also plans to provide assistance, which will be made public after a final agreement is executed, according to the press release.
