CHICAGO, Dec. 8 (UPI) -- U.S. food products giant Sara Lee Corp. said it was moving its headquarters back to Chicago following a six-year sojourn in the suburbs.
"We believe that a downtown location will provide MeatCo with an environment that will be energetic, foster breakthrough thinking, create revolutionary products, offer fresh perspectives and own the market," Chief Executive Officer Marcel Smits said in a note to employees in October, The Chicago Tribune reported Thursday.
MeatCo is the current nickname for the spinoff division of Sara Lee that will set up its headquarters in the Windy City. The company has yet to announce an official name for that company.
The remainder of the company, centered on Sara Lee's coffee and tea brands, is expected to have its headquarters in Europe, the newspaper said.
For Chicago, "this is a huge win," Mayor Rahm Emanuel said.
"The new company will bring these high-paying jobs to the city, as well as its first-class brands and leadership in this key sector," Emanuel said.
Chicago is expected to grant the company as much as $6.5 million in incentives with the final sum depending on the number of jobs created.
The Tribune said 500 to 650 jobs would be moved to Chicago in early 2013.
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