Master Lock and Fortune Brands Innovations announced plans to consolidate their U.S. regional offices in Deerfield, Illinois, with a new headquarters set to open in 2027 for up to 1,000 employees. The state offers $27 million in tax credits and will create 400 jobs while retaining 128 positions. The relocation aims to support long-term growth.
The Oak Creek office is among those relocating, following prior moves from Caterpillar and Midwest Express headquarters. Employees are encouraged to commute due to proximity but may choose to relocate if needed. Relocation costs for those staying include severance pay and outplacement services.
Illinois will benefit economically from the project, with tax credits covering relocation and operational costs. The decision to move its headquarters is part of Fortune Brands’ broader strategy to enhance growth and innovation. The company has also exited Milwaukee with plans to close a manufacturing plant earlier this year, eliminating 330 jobs.
This consolidation follows significant investments in workforce planning, reflecting the company’s commitment to maintaining stability and economic impact in the region.
Source: https://biztimes.com/master-lock-parent-companys-new-illinois-hq-will-impact-oak-creek-office