Albermale, one of the world's leading producers of bulk ibuprofen, will relocate its corporate headquarters to Baton Rouge. The company's headquarters are currently in Richmond, Virginia.
The move was announced at a news conference held by Louisiana Governor Bobby Jindal Wednesday afternoon. Representatives from Albemarle were also on hand for the announcement.


According to a Jindal spokesman, Albemarle executives cited several factors in the decision, "including the positive direction of the state and city, prior success with existing administrative and manufacturing activities in the Baton Rouge region and the state and local incentives package, which will help offset most of the company's relocation expenses."


" Albemarle leaders particularly cited Louisiana's recent ethics reforms and the elimination of the sales tax on natural gas as key deciding factors," said a press release from the governor's office.


Governor Jindal said, "Through a combination of relocations and new hires associated with the corporate headquarters move, Albemarle will create at least 30 new jobs in Baton Rouge by year end and a new payroll of at least $7 million per year, which amounts to more than $200,000 per job.
The company has been considering consolidating its executive and administrative functions in one location for several years, the governor's office said.

Albemarle expects to close its Richmond office later this year.

On the web: Albemarle Corporation Home

Source: WAFB