Coeur d’Alene Mines moving to Chicago
After more than 85 years in Coeur d’Alene Mines Corp. will move its corporate headquarters to downtown Chicago later this year, the Chicago Tribune reported.
The silver and gold producer with operations in Nevada, Alaska, Mexico and Bolivia employs 65 people at its current headquarters in Coeur d’Alene, ID, and expects about 30 percent to move to Chicago, Mitchell Krebs, president and CEO. The company aims to increase the work force here to 100 positions by the end of 2014, Krebs said.
Chicago Mayor Rahm Emanuel and Governor Pat Quinn announced the move on March 27.
The state of Illinois is providing a 10-year tax credit package, worth $1.68 million, for the creation of 60 jobs under its Economic Development for a Growing Economy, or EDGE, program. The credit allows the company to retain a portion of the state income taxes withheld from employees’ paychecks.
Coeur d’Alene Mines, a publicly traded company that intends to change its name to Coeur Mining in May, began its search for a new headquarters last summer and considered 16 potential cities.
The company, which employs 2,000 people worldwide, was sold on Chicago because of its far-reaching air service, its educated work force and the EDGE credit, Krebs said.
As well, he said he was impressed with the level of assistance from both Emanuel and Quinn.
"I could pick up the phone any time and get access to the mayor with any questions or request for assistance," Krebs said.
