Office Depot Picks Florida Over Illinois For HQ
BOCA RATON, Fla. (AP) -- Office Depot has picked Florida for its global headquarters, choosing Boca Raton over the Illinois home of its merger partner OfficeMax.
Last month Office Depot Inc. and OfficeMax completed their $1.2 billion merger and took the name Office Depot.
OfficeMax was based in Naperville, while Office Depot is in Boca Raton.
In mid-November, Office Depot named Roland Smith as its new CEO. The company said he'd help decide where the combined company would be based.
Smith says in a statement Tuesday that after assessing its options the company determined Boca Raton provided a way for it to drive better profitability and reach planned savings.
Office Depot looked at a number of factors before making its decision, including the cost to run each location, lease obligations, government incentives and tax implications.
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