PLYMOUTH, Minn. - One of Minnesota's largest public companies is moving its headquarters to Florida.
The fertilizer giant, Mosaic Co., says it will relocate its corporate headquarters from the Twin Cities suburb of Plymouth to Hillsborough County, Florida to be closer to its phosphate mines and to accomplish long-term savings.
The Fortune 500 company mines potash and phosphate and processes the minerals into crop fertilizer. The company did not say how many employees would be affected or when it planned to make the move.
In a news release the company asserts the move will yield several benefits:
- Closer proximity and better access to Mosaic Fertilizantes. The company’s recent acquisition of Vale Fertilizantes doubled the size of its workforce, significantly increased its presence in Brazil, and reinforced the importance of keeping Americas-based business units more closely connected to corporate teams;
- A continued focus on the potash business with little impact on accessibility for leaders and team members;
- Opportunities to amplify Mosaic’s presence in Central Florida and engage more closely with communities where the company operates, and
- Significant long-term cost savings.
“Mosaic is among the largest employers and most significant corporate economic drivers in Central Florida,” said President and CEO Joc O’Rourke. “We believe locating our corporate office there will give us opportunities to amplify Mosaic’s presence and engage more closely with communities where we operate. With the cost savings we expect to achieve and the closer proximity to our Mosaic Fertilizantes business in Brazil, this move will drive improved efficiency and good value.”
Mosaic says the move will allow the company to reconsider its U.S. office footprint, including its spaces in Plymouth, Minnesota, as well as its FishHawk and Highland Oaks locations in Florida. A post on Wikipedia says the company had a roster of 8,500 employees in 2017, but did not say how many of those workers were in the Plymouth location.