Officials from Coeur d’Alene Mines Corp. announced Wednesday that that the company will move its corporate headquarters to downtown Chicago.
Coeur is currently headquartered in Coeur d’Alene, Idaho, the company’s home since 1985, and employs nearly 2,000 people worldwide. The company expects to complete the move to Chicago in the third quarter of 2013 and to hire at least 60 employees at its downtown headquarters by the end of 2014. In addition, Coeur intends to change its name to Coeur Mining in mid-May.
Coeur is the largest U.S.‐based primary silver producer and a growing gold producer. The company has four precious metals mines in the Americas generating strong production, sales and cash flow in continued robust metals markets. Coeur produces from its wholly owned operations: the Palmarejo silver‐gold mine in Mexico, the San Bartolomé silver mine in Bolivia, the Rochester silver‐gold mine in Nevada and the Kensington gold mine in Alaska. The company also owns a non‐operating interest in a mine in Australia, and conducts ongoing exploration activities in Mexico, Argentina, Nevada, Alaska and Bolivia.
“Relocating our headquarters to Illinois will improve our access to key stakeholders and to our operations,” said Mitchell Krebs, Coeur’s president and CEO. “Chicago is a global, pro‐business city, an international transportation hub and provides access to a broad and deep talent pool. We look forward to our active involvement in our new community and are proud to call Chicago our new home.”
Coeur will receive a state investment package, administered by the Department of Commerce and Economic Opportunity. The package will consist of Economic Development for a Growing Economy corporate income tax credits, which are based on job creation, and Employer Training Investment Program job training funds that will help enhance the skills of its workforce. The tax credits are performance-based, meaning until local workers are hired, the company is not eligible for them.