Banco Santander getting county incentives to add 250 jobs

Banco Santander, a global Spanish bank that is replacing its building at 1401 Brickell Ave. with a 40-story tower where it plans to create 250 jobs, has won $5 million in Miami-Dade County targeted jobs incentives.

Salaries for the 250 new jobs are to average $115,000 plus benefits of $25,000 each. The real estate investment in the site is $290 million, the Beacon Council economic development partnership told the county. The bank is to maintain its present 702 jobs here.

The bank was given five years to create the jobs, longer than the standard three, and will get no funds until jobs are created.

Part of Santander’s plan is to increase its overall operations here by housing various domestic business segments and their supporting functions. The alternate location choice was Dallas. The bank expects to create 50 jobs a year from 2026 through 2030.

The new building will add 315,000 square feet to Santander’s local space to total 928,000, its funding application says. The new Santander Tower will combine prime office space, terraces, integrated gardens, five floors of restaurants and retail, and over 1,500 parking spaces, the bank’s application states. It expects to lease the office floors it doesn’t occupy.

Enhancements are to include a water recycling plant and a solar panel ledge. When the bank sought City of Miami approval for the building, it listed tenant amenities including a private club, meeting facilities and fitness facilities.

The tower will have just under 1.5 million square feet of floor area and feature 612,918 square feet of offices, 107,953 square feet of food and beverage space, a multi-level urban club atop the podium, and 1,496 parking spaces.

The 2.02 acres formerly housed a 14-story building and a detached six-level garage built in 1973. It occupies the entire frontage along the east side of Brickell Avenue, between Southeast 14th Terrace and Southeast 14th Street.

The post Banco Santander getting county incentives to add 250 jobs appeared first on Miami Today.