Panduit Corp., a global leader in innovative network and electrical solutions, recently announced that it will relocate its global headquarters to a new location in Tinley Park, Ill. The company, which is making a capital investment of $39.4 million, will also keep its research and development operations at an existing facility in Orland Park.
The company’s headquarters move will create 55 new jobs, with a total of 505 retained jobs at the new headquarters and research and development facility. The company will receive more than $13.4 million in Opportunity Returns support, the state’s comprehensive economic development strategy to create better jobs and spur even more growth throughout the state.
Panduit Corp. is a global company with a network of manufacturing, marketing and sales affiliates in 33 countries, covering every region of the world. Established in 1955, Panduit manufactures specification grade electrical and communication products, which are primarily sold through distribution. Business growth and inefficiencies of the existing headquarter facility in Tinley Park motivated Panduit’s search for a new headquarters.
The new headquarters includes a 5-story 250,000 square foot facility, in a campus environment, encompassing a 52-acre site along I-80 on the east side of 80th Avenue in Will County. The site will allow for future expansion to accommodate an additional 1,200 staff. Panduit intends to achieve Leadership in Energy and Environmental Design (LEED) Gold certification for the headquarter facility, making it the second such building in Illinois.
“We are pleased to be able to keep our global headquarters right where we started in Tinley Park and look forward to continue expanding our presence here in Illinois and across the globe. I want to thank Gov. Blagojevich for this support,” said John Caveney, CEO.
The Illinois Department of Commerce and Economic Opportunity will administer the business investment package. It includes Economic Development for a Growing Economy corporate income tax credits over the next 10 years based on job creation and retention.
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