Coeur d'Alene Mines Corporation, currently headquartered in Idaho, plans to move its corporate headquarters to downtown Chicago, Illinois. The company expects to complete its move to The Windy City in the third quarter of this year and hire at least 60 employees 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.
“Relocating our headquarters to Illinois will improve our access to key stakeholders and to our operations,” said Mitchell J. 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 could have chosen any number of cities for its home, but they chose Chicago because Chicago gives the company its best opportunity to grow, expand and thrive,” said Mayor Rahm Emanuel. “Coeur needs a global city with a deep talent pool and access to international markets. I am proud that the city worked to put its best foot forward and attract this vital company. I look forward to working with Coeur as they make Chicago their new home.”
“Coeur today joins the growing number of companies that are choosing Illinois to invest and grow their business,” Gov. Pat Quinn said. “With our diverse economy, our pool of highly-skilled workers and our world-class transportation infrastructure, Illinois has what it takes for businesses to grow. We welcome Coeur and look forward to bringing more global corporations to Illinois.”
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.