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Coeur d'Alene Mines moving headquarters to Chicago

Published: Wednesday, March 27, 2013 12:30 p.m. CDT

CHICAGO (AP) — Gold and silver producer Coeur d'Alene Mines Corp. will move its headquarters from Idaho to downtown Chicago this year and hire at least 60 employees, state and city officials announced Wednesday.

In a joint news release, Chicago Mayor Rahm Emanuel and Gov. Pat Quinn said they offered the Coeur d'Alene, Idaho-based company a package of income tax credits and other incentives to come to Chicago. They did not disclose how much the credits and incentives were worth.

Mitchell Krebs, Coeur's president and CEO, said in a statement that the move would give the company better access to its business partners and operations.

"Chicago is a global, pro-business city, an international transportation hub and provides access to a broad and deep talent pool," Krebs said. "We look forward to our active involvement in our new community and are proud to call Chicago our new home."

Coeur d'Alene Mines was incorporated in 1928. It operates silver and gold mines in Alaska, Nevada, Mexico, Bolivia, Argentina and Australia and employs about 2,000 people worldwide.

The company, which will change its name to Coeur Mining in May, plans to complete the move in the third quarter and hire at least 60 employees at its new headquarters by the end of 2014.

The state Department of Commerce and Economic Opportunity will administer the incentive package, which includes corporate income tax credits and job training funds.

"With our diverse economy, our pool of highly-skilled workers and our world-class transportation infrastructure, Illinois has what it takes for businesses to grow," Quinn said in a statement. "We welcome Coeur and look forward to bringing more global corporations to Illinois."

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