Thursday, January 24, 2019

Chemours Reopens Renovated Historic Headquarters in Downtown Wilmington

The Chemours Co., a global chemical company spun off from the DuPont Co., reopened its corporate headquarters in the century-old DuPont Building, a registered historic landmark overlooking Rodney Square in downtown Wilmington, Delaware.

Approximately 850 Chemours employees, contractors and consultants will work out of the company's new headquarters following a 20-month, $80 million renovation by Wilmington-based real estate development and investment firm the Buccini/Pollin Group. Chemours will occupy 280,000 square feet in the top 11 floors of the 13-story building.

Buccini/Pollin acquired the complex at 1007 N. Market St. in April 2017 as part of its acquisition of the historic DuPont Building and Hotel du Pont from Chemours, formerly DuPont Chemical, before being spun off as a separate company in 2015. DuPont had previously owned the building since it was built in 1908. Chemours agreed to lease back office space in the building for a term of 17 years.

Buccini/Pollin is in the process of renovating and converting the historic property, which includes the Hotel du Pont, Playhouse on Rodney Square and the office building at 1007 N. Market St. where Chemours is based, into a mixed-use complex that will include apartments and retail space along with the renovated office, hotel and entertainment space.

In a statement of his remarks at the building's dedication ceremony, Buccini/Pollin Co-President Christopher F. Buccini praised Chemours' decision to keep its headquarters in the city where the company was founded.

"They had other options, and we are grateful for their commitment to our city and our state. Instead of leaving, Chemours made the very difficult decision to stay. They decided to embrace their heritage, to remain in their ancestral home of the 200-year start-up that they are today, and to take a very big chance. And they did it right here in the absolute center of our city… They saw a city surrounding them that was in the midst of an exciting revitalization, and they wanted in."

Chemours cited the Delaware area's educated workforce, proximity to its major customers, and favorable changes to the state's corporate tax structure as the primary reasons for opting to remain after considering other potential locations.

No comments:

Post a Comment

Note: Only a member of this blog may post a comment.