City of Jacksonville


Jacksonville City Council Approves Public Incentive Package for Lender Processing Services, Inc.

May 03, 2010

Lender Processing Services, Inc. (LPS) announced it will add 350 new, full-time economic-based jobs to its Jacksonville campus following the approval of an incentives package by Jacksonville City Council. The new jobs will pay an average salary of $44,807 and will include a benefits package valued at $11,202. LPS will also invest approximately $1.5 million in new private capital at its existing location. The additional jobs will accommodate LPS' expanding technology platforms and systems, data and analytics division and loan transaction services division.

LPS is a provider of integrated technology and outsourced services to the mortgage lending industry, with mortgage processing and default management services in the U.S. LPS became an independent public company on July 2, 2008 – the date it was spun off from its former parent company, Fidelity National Information Services, Inc. (“FIS”). Prior to this, FIS was a part of Fidelity National Financial (“FNF”).

LPS has approximately 8,900 employees located in several cities throughout the U.S. Since the date of the spin off, the company has experienced significant growth and has added more than 3,300 jobs – of which approximately 550 were added to the Jacksonville campus. The company saw revenues of approximately $1.9 billion in 2008 and $2.3 billion in 2009. This expansion will bring the company's total Jacksonville employment to 2,450 and bring the total Jacksonville employment for all Fidelity companies to approximately 3,890.

LPS and the Fidelity companies and its employees demonstrate a strong commitment to the Jacksonville community. FNF is very proud of the development and improvements that it has made to Riverside Avenue and the St. Johns Riverfront. FNF helped the city extend the Riverwalk to the Fuller-Warren Bridge and turned a Brownfield area into a riverfront showplace. Through its partnership with the City of Jacksonville and the I.E. DuPont Foundation, FNF also developed a new Riverwalk park and public parking area. LPS' Jacksonville employees volunteer their time to serve as mentors to students in middle schools and high schools in the Enterprise Zone and volunteered more than 23,000 hours over the past year. In addition, LPS and its employees have supported more than 22 local charitable organizations directly through donations and volunteerism.

The project will increase the visibility of Jacksonville as a financial services center, further strengthening a targeted industry and continue the redevelopment of downtown Jacksonville and the Brooklyn neighborhood. Jacksonville was considered for this expansion in addition to three other cities with existing operations. The deal is pending approval from the State of Florida.