Albemarle confirmed today what many have been hearing for months—the company is relocating its corporate headquarters from Baton Rouge to Charlotte, North Carolina. The company also announced it is relocating local employees from its Refining Solutions business to existing offices in Clear Lake, Texas. Some 120 employees will be affected by the relocation.
“As we look at the ever increasing demands for communication, collaboration and mobility for our employees and our customers, Charlotte is the best strategic location to base the new Albemarle,” company President and CEO Luke Kissam says in a prepared statement.
The Albemarle move was not unexpected. Since the company acquired Rockwood Holdings for $5.7 billion earlier this year it has been evaluating its sites around the world, and local business and political leaders confirmed earlier this summer a move was in the offing.
Still, the news comes as a blow to the city and the state, especially as another major company—Amedisys—announced earlier this summer it is relocating its corporate executives to a satellite office in Nashville, Tennessee.
Louisiana Economic Development Secretary Steve Grissom says his office tried hard to keep the company from leaving.
“LED and our economic development partners in Baton Rouge mounted a concerted effort to retain and expand Albemarle’s headquarters,” Grissom says. “Those discussions included proposals to further strengthen air transportation offerings and the diversity of education options available to company employees and their families.”
LED lured the company’s headquarters to Baton Rouge in 2008 with a package of incentives that included more than $4.2 million in reimbursed relocation expenses.
Albemarle says Baton Rouge will continue to be home to the company’s research and development and manufacturing operations as well as its Process Development Center. The company will also keep several functional and support operations at its current downtown office.
Baton Rouge Area Chamber President and CEO Adam Knapp is taking the company’s decision in stride and pointing to other positive developments in the local economy.
“Albemarle will continue to have significant presence with 500 jobs in the market even after today’s announcement, which was not unexpected,” Knapp says. “Year-to-date, more than 1,400 new jobs have been announced and the region continues to lead the state in non-farm employment growth.
—Stephanie Riegel
