GCP Applied Technologies, a maker of chemicals and construction products, is moving its headquarters to Atlanta from the Boston metro area.
GCP issued a news release saying it will move here by the end of the year. But the company did not say where its office will be located or provide a more detailed timeline. It plans to close its corporate campus in Cambridge, Massachusetts, but will open a new research center in the Boston area.
GCP makes additives for cement and concrete, as well as those used in waterproofing products and fireproofing materials. In the news release, CEO Simon Bates cited the “diverse professional talent pool” as a primary reason for choosing Atlanta over five other unnamed cities. It did not say how many workers would relocate to Georgia.
GCP is the latest corporation to move its headquarters to Atlanta. Staffing company Adecco is bringing its North American headquarters here from Jacksonville, Florida, and pizza delivery company Papa John’s will move here from Louisville, Kentucky.
GCP already has several Atlanta connections. Bates, who was hired in October, lives in the Atlanta area. He previously held executive roles with several Atlanta construction-sector companies, including Oldcastle and Westlake Chemical.
GCP board member Linda Welty is also a director of Atlanta-based Huber Engineered Materials, which makes industrial chemicals. She is also a former chair of the Atlanta chapter of the National Association of Corporate Directors.
Rob Yanker, a GCP board member, lives in Atlanta. He’s a former consultant at McKinsey & Co.
GCP estimated that its move to Atlanta will result in yearly cost savings of between $13 million and $15 million, starting in 2022.
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