Chiquita to move head office

To reduce costs, Chiquita Brands International will move its headquarters from Cincinnati (Ohio) to Charlotte (North Carolina).

Charlotte offered the most economical solution with its airport with easy access to international markets. The move will affect 300 positions in Cincinnati and another 100 throughout the country.

Chiquita expects $30-35 million of relocation expenses over the next 2 years, a share of at least $ 24 million will be reimbursed by the state and local incentives in 10 years. The company said it would save $4 million annually due to lower rents and travel costs.

The move will be effective by the end of 2012.

source : wall street journal