ConAgra Foods, the maker of Slim Jim beef jerky and Banquet frozen foods, says it will move its corporate headquarters to Chicago from its longtime base of Omaha. “The restructuring is expected to result in the elimination of approximately 1,500 positions or approximately 30 percent of the company’s global office-based workforce,” the company said in a statement. By summer 2016, about 700 employees will be located at the Merchandise Mart. “The company will continue to maintain a significant presence in Omaha, including approximately 1,200 employees within key administrative functions, as well as research & development and supply chain management.”
ConAgra’s new chief executive, Sean Connolly, who lives in the Chicago suburbs, told the Chicago Tribune said the relocation of headquarters was part of a strategic move to consolidate the executive team and put ConAgra’s consumer food divisions in one location, rather than split between Nebraska and Illinois. “Tax incentives from the state helped convince ConAgra to move,” said the Tribune. “The incentives allow ConAgra to receive tax credits equal to the state income tax withheld from the additional employees.” Connolly said the tax incentives were “certainly appreciated.”
ConAgra ranked 10th on Food Processing’s list of 100 largest food companies in the United States and Canada.