* 1:40 pm - ADM is announcing that 100 top executives will be moved out of the company’s longtime Decatur home. Word from inside is that the company is considering moving those top jobs to Chicago.
* From a press release…
Archer Daniels Midland Company (NYSE: ADM) announced today that it is exploring establishing a new global headquarters and customer center.
“Our company is growing and becoming more global and more customer-centric,” said Patricia Woertz, ADM chairman and chief executive officer. “To continue to succeed, we need a global center in a location that allows us to travel and work efficiently with customers and employees throughout the world. We also need an environment where we can attract and retain employees with diverse skills, and where family members can find ample career opportunities.”
The company is considering locations and having discussions with various public officials and advisors. It does not expect to discuss those details publicly.
It expects to locate a small, corporate team at the global center, with approximately 100 jobs relocated to the center. In addition, the company plans to create a new IT tech center at the same location, adding approximately 100 new positions there over the next few years.
The company does not plan any layoffs in connection with the move to a new global center.
“As we look to establish the new global center, we remain firmly committed to the 4,400 colleagues who will continue to work in Decatur, and to the economic strength and viability of the Decatur community,” Woertz said.
In recognition of the breadth and importance of the work that will continue to be centered in Decatur, the company’s office there will be designated the North American headquarters. ADM also maintains regional headquarters in Rolle, Switzerland; São Paulo, Brazil; and Shanghai, China.
“To ensure that Decatur remains a strong and vibrant community for years to come, we are also announcing today several multi-year financial commitments. We are investing in Decatur’s economic development to help ensure it flourishes economically, in its schools to foster a strong workforce pipeline, and in critical social services to enhance the quality of community life.”
Among the specific commitments the company is making is $250,000 a year for three years to fund an enhanced public-private partnership and unified marketing campaign for the Economic Development Corporation of Decatur & Macon County, including the funding of a mayoral economic development fellow; and $500,000 a year for five years to Decatur Public School District 61. In addition, the company will maintain its other Decatur and Macon County community support at $1 million a year for at least 10 years.
“This is an exciting time for our company. We are preparing for a large North American harvest and the completion of our acquisition of GrainCorp,” Woertz said. “We look ahead to a strong 2014, as we position our company for continued success.”
ADM is also seeking “assistance from the State of Illinois through the Economic Development for a Growing Economy (EDGE) Tax Credit and other credits against other state taxes to help facilitate the relocation and creation of additional Illinois jobs.”
So, we may be in for a bidding war.
I doubt that Rep. Bill Mitchell will be all that pleased. You will recall that Mitchell (R-Forsyth) is a Decatur-area legislator who has demanded that Chicago secede from Illinois.