E-Malt.com News article: USA: MillerCoors is choosing Chicago for headquarters crating up to 400 new jobs

The new MillerCoors joint venture will be based in downtown Chicago, company officials said July 15, choosing a neutral site to the home city of either individual brewer, according to The Associated Press.

MillerCoors decided not to settle in Milwaukee, where SABMiller PLC's Miller Brewing Co. is based, or in Golden, Colo., the home of Molson Coors Brewing Co. The company's president, Tom Long, cited Chicago's "access to an attractive base of talent, transportation and business resources."

Illinois provided an $18 million investment package to support MillerCoors, which is making its own $39.5 million investment, the state's Gov. Rod Blagojevich said. "This investment will contribute to a stronger regional economy, which will help create new jobs in the state and opportunities for the company to grow in the future," Blagojevich said. He said the new headquarters will create 300 to 400 new jobs.

Chicago Mayor Richard M. Daley said the move reinforces Chicago's commitment to businesses both large and small. "The company's decision to locate its headquarters here strengthens our reputation as a world-class city in which to conduct business and confirms that Chicago is a great place to live, work and raise a family," he said.

MillerCoors said early on it wanted to settle in a neutral site, but officials pledged to maintain a strong presence in each hometown.

That offered a small measure of solace to Wisconsin Gov. Jim Doyle. He said he was "disappointed" that Milwaukee wasn't a candidate but that the state remains committed to the company. "We will continue to work with the new MillerCoors to make sure that Milwaukee will always be the home of Miller beer," he said.

MillerCoors began operation as a combined entity July 1, a day after the companies announced the closing transaction to combine their U.S. and Puerto Rico operations.

The deal was aimed at helping them compete against Anheuser-Busch Cos., which has about half the U.S. market. Anheuser-Busch agreed this week to be acquired by Belgian-based InBev SA for $52 billion.



16 July, 2008