PulteGroup, Inc., has announced it will relocate its headquarters to Atlanta in 2014 from its current location in Bloomfield Hills, Mich. The company's Michigan-based home building operations will remain in Oakland County, Mich.
"We have historically managed our growth from Michigan, but the company has reached a point where we must pursue a strategy that better fits with the long-term growth trends for our company and industry. This relocation will bring us closer to our customers and a larger portion of our investment portfolio," said Richard J. Dugas, Jr., PulteGroup chairman, president, and CEO. "This was not an easy decision, but I am confident that it is the right choice, at the right time, for the ongoing success of the organization."
In 2012, PulteGroup's operations in northern Virginia down through Florida represented 37 percent of its home closings and 43 percent of the company's year-end invested capital. PulteGroup had previously announced plans to increase its authorized investment in land and development for 2013 and 2014 to $1.4 billion, compared with the $924 million invested in 2012. Consistent with multi-year trends, the company plans to continue investing in its homebuilding operations throughout the Southeast, in addition to its other markets throughout the country going forward.
"By announcing the decision a year in advance, we can work more closely with each employee and help facilitate an easier transition and more seamless relocation to a new facility," said James Ellinghausen, executive vice president of human resources. "It is too early to determine how many employees will ultimately assume positions in Georgia, but for those individuals who do not relocate we will offer a very fair severance package and related outplacement services to help locate a new position in Michigan as the surrounding economy continues to improve."
PulteGroup employs approximately 380 individuals in the state of Michigan, 54 of whom work in its local homebuilding operations and are unaffected by the move. When fully staffed, the company expects 300 to 350 employees at its corporate offices in Georgia.
PulteGroup is one of the nation's largest homebuilders, employing approximately 3,400 individuals across 28 states. The company was founded in Michigan in 1950 by William J. Pulte, who retired from the business in March 2010.
In 2000, approximately 72 percent of the company's business investments were located outside of its Michigan and related Midwest markets. The re-weighting of its portfolio to south and west has continued, as the company's investments outside of its Michigan and Midwest markets increased to 92 percent in 2012.