The world’s biggest wellness, health and nutrition company, Nestle has made Virginia as its new headquarters by shifting from California. The new headquarters at Virginia is situated at 1812 N. Moore St, which is the tallest building of that region. The building has been said to be vacant since its construction in the year 2013 and Nestle chose this destination as it is closer to regulators and lobbyists with country and state subsidies of 16 million dollars.
The maker of prestigious brands like Lean Cuisine, Baby Ruth, and many more, Nestlé USA is all set to create new opportunities in the field of employment by bringing 750 jobs to the Rosslyn Area, Arlington County.
The Chief Executive and Chairman, Paul Grimwood, Nestlé USA, said that this change of headquarters has brought them closer to their industry’s heartbeat, which has its basis in Vevey, Switzerland. This gives them a chance to collaborate with significant stakeholders of Capitol Hill and Washington and also with the consumers at a much larger extent. He also said that better transportation, logistics facility, and great schools in Arlington assisted them to make the ideal choice. The Virginia headquarters is also closer to the customers and the production sites.
Since 1866, the year of its inception, Nestle has tremendously grown with global sales worth 90 billion in the year 2015 acing the sales of brands like Purina, Hot Pockets, Butterfinger etc.
According to reports, the shift of headquarters will profit the growth of candy makers like Hershey, Mars, M&M and Milky Bar. But the task of choosing the appropriate headquarters was not an easy choice. Nestle considered more than 20 locations all over the country and finally chose Atlanta and Rosslyn. A Nestle spokesperson, Lisa Gippy confirmed that the talks of headquarters’ relocation initiated before the cycle of election.
With the new headquarters coming up in North Virginia, the state is aiming to bring about new prospects of growth with more than 70 other corporate headquarters opening up.
Nestle is receiving monetary fund worth $10 million from the commonwealth. The $6 million from the opportunity fund incentive and $4 million is coming from the incentive grant of Virginia Economic Development.
The Arlington County is also contributing to the relocation with the sum of $4 million as performance grants and $2 million in updates for infrastructure.
Nestle will be occupying the building by 40%, which is approximately 206,000 sq. ft. on the top 9 floors and is likely to spend 39.8 million dollars. The shifting will commence in summer this year and will probably complete by the end of 2018. They will hire new people for half of the 750 job positions in the new headquarters.