Breaking News Bar
posted: 9/25/2013 5:27 PM

Power Construction moving headquarters from Schaumburg to Chicago

hello
Success - Article sent! close
 
Daily Herald staff report

Schaumburg-based Power Construction Co. LLC announced Wednesday it is moving its headquarters -- and more than 200 jobs -- to Chicago.

The company will relocate its corporate headquarters in March 2014 to Triangle Plaza at 8750 W. Bryn Mawr Ave., according to a news release issued by Chicago Mayor Rahm Emanuel and Gov. Pat Quinn.

Order Reprint Print Article
 
Interested in reusing this article?
Custom reprints are a powerful and strategic way to share your article with customers, employees and prospects.
The YGS Group provides digital and printed reprint services for Daily Herald. Complete the form to the right and a reprint consultant will contact you to discuss how you can reuse this article.
Need more information about reprints? Visit our Reprints Section for more details.

Contact information ( * required )

Success - request sent close

Power is one of the Midwest's largest contractors, with average annual revenues of $600 million. The company, which plans to add 30 new jobs upon its relocation and increase its workforce by at least 15 percent in the next few years, will be eligible for tax credits under the Economic Development for a Growing Economy program.

Besides anticipated employee growth, the company said it is moving because its current office space at 2360 Palmer Drive is outdated and there are new construction opportunities in downtown Chicago. Power was founded in Chicago in 1926.

"It's great to welcome Power back to Chicago after 80 years," Emanuel said in a news release. "This is a cutting edge company, with deep roots in our city. They are doing great things around the city, constructing wonderful buildings that help Chicagoans enjoy a high quality of life while spurring economic activity and job creation. I am so pleased to welcome Power, and I look forward to the company's future success."

Julie Fitzgerald, director of community development for Schaumburg, said because there are thousands of jobs in the village, losing about 200 won't have a huge impact.

The village isn't too worried about the space Power is leaving behind, which is in an industrial park that the village is planning to turn into a tax increment financing district, she added.

"We're constantly having people come to us for industrial spaces, so this will just be another opportunity," Fitzgerald said, noting that oral hygiene company Sunstar will soon be moving from Chicago into a 300,000-square-foot building close to the one Power is vacating.

Share this page
Comments ()
Guidelines: Keep it civil and on topic; no profanity, vulgarity, slurs or personal attacks. People who harass others or joke about tragedies will be blocked. If a comment violates these standards or our terms of service, click the X in the upper right corner of the comment box. To find our more, read our FAQ.
    help here