The city of Chicago has attracted one of the biggest developers in the Midwest, Clayco, Inc. The developer announced in early January that it is moving its headquarters from St. Louis to Chicago.
The news was big enough to snag Chicago mayor Rahm Emanuel, who joined Clayco’s chief executive officer, Robert Clark, to make the official announcement.
“Clayco is exactly the sort of company that we are looking to attract to Chicago,” Emanuel said in a written statement. “I am committed to bringing new technologically advanced businesses to Chicago, especially those that want to grow and expand their businesses. Clayco is exactly this kind of firm.”
Clayco will occupy about 30,000 square feet of the 35 E. Wacker buiding in downtown Chicago, taking the 13th and 27th floors of the building known as the Jewelers Building.
The move is no minor one for Chicago. According to company information, Clayco boasts annual revenues of more than $820 million. The 28-year-old company has about 1,000 employees, with 280 already in its existing Chicago-area office. Clayco said that it plans to nearly double the number of Chicago employees in the next two years.
Clark himself has lived in Chicago since 2010, shortly after his wife died, so the move makes sense from a personal standpoint.
And Clayco has announced that it won’t be laying off any of the about 700 employees who work in St. Louis. In fact, Clayco has stressed that St. Louis will remain an important hub for the company even after its headquarters moves to Chicago.
“Clayco is embarking on an exciting period in our company’s history,” said Clark in a written statement. “With a record backlog of projects, and increasing travel around the country and the globe, we see Chicago as an integral part of our expansion strategy.”
© 2017 Real Estate Communications Group. Duplication or reproduction of this article not permitted without authorization from the Real Estate Publishing Group. For information on reprint or electronic pdf of this article contact Mark Menzies at 312-644-4610 or firstname.lastname@example.org