Air Products Announces New Global Headquarters in the Lehigh Valley
By Colin McEvoy on July 17, 2018
Air Products has announced that its new global headquarters will remain in the Lehigh Valley, in a new spot in Upper Macungie Township not far from its existing location.
The Fortune 500 company’s new headquarters facility will be located just over one mile from its existing location, on an available 50-acre tract of property southeast of the intersection of Mill Creek Road and the Route 222 Bypass.
“From the beginning of this process to develop a new headquarters facility, we have never wavered in our commitment to remain in the Lehigh Valley,” said Seifi Ghasemi, Air Products Chairman, President & CEO.
“Now, we have made the location decision and we begin our preparations to build facilities that represent our world-class company,” Ghasemi said. “This is a very exciting time for Air Products as we evolve our headquarters environment to be more beneficial to our employees and take advantage of sustainable technologies to lessen our footprint and reduce operating costs.”
A groundbreaking for the new headquarters is expected in March 2019, with occupancy targeted by the summer of 2021. The new location will be the base for approximately 2,000 Air Products employees, with capacity for future growth.
“A company of the size and scope of Air Products, quite frankly, could go anywhere they want, so we’re very fortunate that they’ve decided to stay here,” said Don Cunningham, President & CEO of the Lehigh Valley Economic Development Corporation (LVEDC).
“This decision by Air Products is a very positive one for the Lehigh Valley economy,” Cunningham said. “The presence of Air Products economically is not just about the jobs they provide, but the other companies that want to be in close proximity and its magnet effect to attract other companies in the market.”
LVEDC awarded Air Products with a Leadership Award at the organization’s 2018 Annual Meeting in March, in recognition of the company’s continued commitment to the Lehigh Valley
The location of the new headquarters was first announced by Ghasemi to Air Products employees during a overflow gathering at a town hall meeting on July 17. Air Products has about 15,000 employees in various locations across the world.
The new headquarters site will include new administration offices, a research and development facility, and an enclosed parking structure for employees. A cost estimate is not being disclosed at this time.
Air Products’ headquarters will remain at its current location at 7201 Hamilton Boulevard, Allentown, and employees will continue to work there during construction and completion of the new facilities.
The company plans to eventually make its existing 235-acre location available to the real estate market, Ghasemi said.
Steadfastly focusing on industrial gases, Air Products had divested non-core businesses over the last two years. These moves, in combination with other operational changes, have resulted in excess building space at Air Products’ present location, Ghasemi said, compounded by annual maintenance costs of approximately $20 million at its current 60-year-old location.
“The decision to leave our current headquarters location, with its rich history, was not one we made lightly, but we believe our new location will afford us a special opportunity to modernize and optimize our office space and R&D facilities and invest in a work environment that motivates and energizes our employees,” Ghasemi said.
“As a global company operating in more than 50 countries, this new headquarters will reflect the safety, speed, simplicity and self-confidence that move us forward as a world-leading industrial gas company,” he said.
Air Products, one of two Fortune 500 companies located in the Lehigh Valley, is a world-leading industrial gases company in operation for over 75 years.
The company’s core industrial gases business provides atmospheric and process gases and related equipment to manufacturing markets, including refining and petrochemical, metals, electronics, and food and beverage.
Air Products is also the world’s leading supplier of liquefied natural gas process technology and equipment. The company had fiscal 2017 sales of $8.2 billion from continuing operations in 50 countries and has a current market capitalization of about $35 billion.
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