Archer-Daniels-Midland Co. (ADM:US), the world’s largest corn processor, will move its global headquarters to Chicago from Decatur in Illinois.
About 50 to 75 employees will work in the new office, the company said today in a statement. The company had visited cities including Dallas, Minneapolis and Atlanta as it considered potential locations, a person familiar with the situation said in October. Decatur will become ADM’s North American base.
“Chicago emerged as the best location to provide efficient access to global markets while maintaining our close connections with U.S. farmers, customers and operations,” Chairman and Chief Executive Officer Patricia Woertz said in the statement.
ADM said in September it was looking to move after 44 years in Decatur, which is located 180 miles (290 kilometers) southwest of Chicago. At the time it planned to expand into Australia with its A$2.2 billion ($2 billion) bid for Australia’s GrainCorp Ltd. That deal was blocked last month by Australian Treasurer Joe Hockey who said “now is not the right time” for a foreign takeover of 100 percent of the business.
ADM said today it’s evaluating sites for an information-technology and support center, where it expects to create 100 new jobs. Woertz said ADM had tried to obtain state-government support to locate the center together with the new headquarters. That wasn’t possible “within ADM’s timeframe,” the company said. Instead it will consider potential sites in several states and make a decision by mid-2014.
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