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New Jobs for Georgia

November 12th, 2007 Posted by Amelia

In Atlanta, Governor Sonny Perdue recently announced that two major corporations have chosen Georgia as their new sites.

Invesco PLC, a leading independent global investment manager, will move its headquarters from London to Atlanta. And, Sumika Polymer Compounds America, Inc. has announced a joint venture in Griffin, Georgia.

“We are proud that our business advantages help Georgia-grown companies thrive all over the world,” said Governor Sonny Perdue. “Our dynamic economy and talented workforce attract many companies like Invesco, who realize that there is no better place for their headquarters than right here in our state.”

The relocation signifies Invesco’s return to its Atlanta roots and reflects its majority U.S. stock ownership. The company will consolidate nearly 300 positions from its two existing Atlanta offices into the new Two Peachtree Pointe building in Midtown, where it will have room for future expansion. Invesco will be the first tenant in Two Peachtree Point, 1555 Peachtree Street, a Dewberry Capital Corporation development.

Invesco was created in Atlanta in 1978 through a divestiture by C&S Bank, and later moved its operations to London after it was purchased by a British company in 1988. The company has always maintained a significant Atlanta and U.S. presence, and has offices in 21 U.S. and Canadian cities besides Atlanta, where it currently employs a staff of 298 people, including its senior management.

Invesco recently proposed to its stockholders that it move its primary stock listing from the London Stock Exchange to the New York Stock Exchange, a change that would qualify it for consideration as a member of the S&P Index.

“We are very pleased to once again establish our global corporate headquarters in Georgia,” said Invesco President and CEO Martin L. Flanagan. “Invesco began in Atlanta, and we look forward to building on our long and successful history here.”

Invesco currently has $504.7 billion in assets under management for its retail, institution and private wealth management clients around the world. The company has more than 5,300 employees in 19 countries.

“We are delighted with Invesco’s decision to re-locate their global headquarters from London to the City of Atlanta after a thorough analysis of multiple locations,” said Peggy McCormick, president of the Atlanta Development Authority. “This decision bolsters Atlanta’s significant and growing financial services sector and speaks to the many competitive advantages we offer such as our workforce, our affordability and our connectivity with major cities in the world. As the city’s economic development agency, we were pleased to be a part of the team to support Invesco’s decision.”

“Invesco bringing their headquarters back to Atlanta is truly a win for the metro area,” said Sam A. Williams, president of the Metro Atlanta Chamber of Commerce. “There are currently more than 2,000 international businesses in metro Atlanta, and that number continues to grow.”

In a second announcement, the Governor said that two major Japanese chemical companies are forming a joint venture to be located in Griffin. The new venture, called Sumika Polymer Compounds America, Inc. (SPCA), will create 50 jobs in a plastic manufacturing facility supplying automotive parts. Governor Perdue announced the project from Tokyo, where he is attending the joint meeting of SEUS-Japan and Japan-U.S. Southeast Associations.

“The strength of Georgia’s automotive industry and our valuable economic partnership with Japan made this project possible,” said Georgia Governor Sonny Perdue. “This economic development mission and the SEUS-Japan conference allows us to forge the very partnerships that continue to bring great jobs and important investments to Georgia.”

The company, which goes by the acronym SPCA, will manufacture polypropylene compounds for the automotive industry. The company plans to build a 90,000 square foot facility on a 30-acre site at the Hudson Industrial Park in Griffin. The joint venture facility between Sumitomo Chemical and Toyo Ink Group, both based in Tokyo, is expected to be online in early 2009.