McDonald's to Move Headquarters to Downtown Chicago

McDonald's Corp. is moving its headquarters to downtown Chicago from one of the city's suburbs, as more companies move into urban centers to attract millennial talent.

The company said it would move its headquarters into the trendy West Loop neighborhood of Chicago by 2018.

"This world-class environment will continue to drive business momentum by getting us even closer to customers, encouraging innovation and ensuring great talent is excited about where they work," Chief Executive Steve Easterbrook said.

Companies like General Electric, Weyerhaeuser and now, McDonald's are leaving behind their sprawling suburban headquarters and moving to urban high-rises to appeal to the younger, metropolitan workforce. Young, educated and relatively high-earning workers are flocking to many American cities at a rate not seen since the U.S. Census Bureau began tracking such data in the 1970s.

"McDonald's has identified the keys to success to today's global market, talent, technology, and access to transportation networks," Chicago Mayor Rahm Emanuel said in a prepared statement. "I'm proud to welcome them to our dynamic city."

The move is a return to the Windy City for McDonald's, which had been based there between 1955 and 1971. It is currently based in the Chicago suburb of Oak Brook, Ill.

The new Chicago headquarters will also house a "Hamburger University" location, which provides training to many of the company's employees and franchise owners.

Write to Austen Hufford at [e-mail]

(END) Dow Jones Newswires

June 13, 2016 11:25 ET (15:25 GMT)

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