By Shereen Siewert
WAUSAU — A $50 million facility being planned for Liberty Mutual in Wausau is no longer in the works, company officials confirmed on Wednesday.
Economic Development Director Chris Shock on Tuesday told members of the ED committee that talks with the company were continuing as Liberty Mutual worked out their final plans.
But early Wednesday, Adrianne Kaufmann, senior public relations specialist at Liberty Mutual, issued a prepared statement to Wausau Pilot and Review that said the company has made a decision. In her email, Kaufman praised the city’s efforts in working with Liberty Mutual as they considered options for their Wausau operations, which included constructing a new building or entering into a new lease in a downtown space.
“After carefully weighing all options, Liberty Mutual determined that the best course for the company is to extend the lease in our current location and renovate the space,” Kaufmann said. “Liberty Mutual appreciates everything that the Mayor, his team and the Wausau City Council had done in working with us.
The announcement comes roughly one year after city officials announced Liberty Mutual would build the facility, which would have been the most valuable building in Wausau’s history and would have committed the company to keeping 900 jobs in the city.
The deal called for $5 million in tax refunds over six years, according to city documents. Wausau would have seen a $10.5 million tax boost over 15 years from the development, according to projections presented to the council last year.