Office Depot Picks Florida Over Illinois For HQ

BOCA RATON, Fla. (AP) — Office Depot has picked Florida for its global headquarters, choosing Boca Raton over the Illinois home of its merger partner OfficeMax.

Last month Office Depot Inc. and OfficeMax completed their $1.2 billion merger and took the name Office Depot.

OfficeMax was based in Naperville, while Office Depot is in Boca Raton.

In mid-November, Office Depot named Roland Smith as its new CEO. The company said he’d help decide where the combined company would be based.

Smith says in a statement Tuesday that after assessing its options the company determined Boca Raton provided a way for it to drive better profitability and reach planned savings.

Office Depot looked at a number of factors before making its decision, including the cost to run each location, lease obligations, government incentives and tax implications.

(TM and © Copyright 2013 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

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