Bloomberg News

ADM Said to Consider Dallas for Relocation of Headquarters (1)

October 14, 2013

Archer-Daniels-Midland Co. (ADM:US), the world’s largest corn processor, is considering Dallas among other U.S. cities as it looks to move its global headquarters from Decatur, Illinois, according to a person familiar with the situation.

ADM’s site selection team visited Dallas on Oct. 8, according to the person who asked not to be identified because the talks are private. ADM executives visited other cities last week, including Minneapolis and Atlanta, and Chicago is also being considered, the person said.

ADM said last month that after 44 years in central Illinois it’s looking for a location where international travel is easier for employees. It plans to relocate about 100 corporate jobs while keeping Decatur, located 180 miles (290 kilometers) southwest of Chicago, as its North American headquarters.

The company, which sells crops and other products in more than 140 countries, announced plans last year to expand into Australia with a A$3.4 billion ($3.2 billion) takeover (ADM:US) of grain handler GrainCorp Ltd. ADM has more than 30,000 employees, according to its website.

“As we have said, we’re considering a number of locations and talking with various public officials,” David Weintraub, an ADM spokesman, said in an e-mailed statement today.

Illinois Credits

ADM has had discussions with officials in Illinois about potentially locating its global headquarters in Chicago. ADM Chief Financial Officer Ray Young said at an Illinois House Revenue and Finance Committee hearing on Oct. 1 that the company was seeking $1.2 million in annual tax credits for 20 years from the state. Illinois Democratic Governor Pat Quinn won’t consider any special legislation with tax credits for ADM until the state accomplishes pension reform, spokeswoman Brooke Anderson said.

Along with an international airport, Dallas and the surrounding region is home to several ADM customers including Kimberly-Clark Corp. and Dean Foods Co. Dallas is the ninth-largest city in the U.S. and the third-largest in Texas, according to the website of the Dallas Convention & Visitors Bureau.

ADM officials were in Minneapolis on Oct. 7, Mike Brown, a spokesman for the nonprofit Minneapolis St. Paul Regional Economic Development Partnership, said in a phone interview today. He declined to comment further.

To contact the reporter on this story: Shruti Date Singh in Chicago at ssingh28@bloomberg.net

To contact the editor responsible for this story: Simon Casey at scasey4@bloomberg.net


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Companies Mentioned

  • ADM
    (Archer-Daniels-Midland Co)
    • $52.24 USD
    • 1.08
    • 2.07%
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