Office Depot announced that it would keep its headquarters in Boca Raton instead of moving to the Naperville, Ill.-based facility of the recently acquired OfficeMax.
The company will remain in its current 625,000-square-foot corporate campus located at 6600 N. Military Trail in Boca Raton.
That means about 1,700 employees will stay local and that base should grow. The building also has ample space to accommodate associates who will relocate from Illinois. It also allows Palm Beach County to retain one of its few Fortune 500 corporate headquarters.
The company said that operating costs, lease obligations, tax implications, government incentives and the ability to manage and grow personnel factored into the decision.
“Both Florida and Illinois have many positive attributes, but our analysis concluded that Boca Raton provides the best platform for us to achieve planned synergies, leverage assets to drive improved profitability, and launch a compelling vision for the future,” said Roland Smith, who became CEO of Office Depot in November. “We will quickly move forward to build a world class leadership team and organization focused on exceeding the expectations of consumers and businesses, becoming a more appealing partner to our vendors, and driving value for our shareholders. To do that, we will select the best talent available from both locations.”
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