The Mosaic Company (NYSE: MOS) today announced that it intends to move its corporate headquarters, including senior executives and related functions, to Hillsborough County, Florida. Details of the move, including timing, the exact location of the corporate office and the number of employees to be relocated, remain under consideration.
“Mosaic is among the largest employers and most significant corporate economic drivers in Central Florida,” said Mosaic 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 is a Fortune 500 company with over 100 years of phosphate mining history in the U.S. It is the world’s largest combined producer of potash and phosphates, two vital plant nutrients. Mosaic has its largest domestic presence in Florida, where it directly employs 3,000 Floridians and an additional 3,000 contractors. In recent years, the company significantly expanded its business into South America, acquiring Archer Daniels Midland Company’s fertilizer distribution business in Brazil and Paraguay in 2014 and Vale Fertilizantes in Brazil in 2018.
Moving its headquarters to Hillsborough County will yield several benefits for Mosaic:
- 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 its 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 they operate, and
- Significant long-term cost savings.
“We are thrilled that Mosaic is moving its corporate headquarters to Hillsborough County,” said Sandy Murman, Chair of the Hillsborough County Board of County Commissioners. “Mosaic has had a significant presence here for a century, directly employing thousands of county residents and supporting tens of thousands of jobs related to the phosphate and fertilizer industry and at Port Tampa Bay. In addition to helping to drive our local economy, Mosaic has contributed millions of dollars and countless volunteer hours over the past several decades to local nonprofit organizations. We thank Mosaic for strengthening their commitment to our community and look forward to supporting them as they establish their headquarters in Hillsborough County.”
During the 2017 calendar year, Mosaic’s economic impact in Florida included:
- $465 million in payroll
- $307 million in capital expenditures
- $41 million in land reclamation
- $28 million in county tangible and real estate taxes
- $40 million in state severance and sales taxes
- $1.1 million to United Way organizations in Florida.
The Tampa Hillsborough Economic Development Corporation (EDC) and Mosaic have been well connected for years, as Mosaic is an Investor in the organization and shares its commitment to the growth and prosperity of Tampa and Hillsborough County. The EDC and Mosaic leadership have had several discussions regarding the headquarters move, and the EDC has assisted the company throughout the process.
“Recruiting corporate headquarters is a top priority of our three-year strategic plan,” said Alan F. List, MD, Chairman of the Tampa Hillsborough Economic Development Corporation and President and CEO of Moffitt Cancer Center. “Mosaic’s selection of Hillsborough County proves that this community offers the business climate, talent, cost advantages, and quality of life that a Fortune 500 global headquarters operation requires. We will be delighted to welcome Mosaic’s relocated team and look forward to helping them discover everything they need to thrive here.”
“We will execute this move with as little disruption as possible and with sensitivity to our employees’ personal situations,” Mr. O’Rourke said. “Mosaic is fortunate to have a deeply talented workforce, and we fully intend to maintain that competitive advantage.”
Image via Mosaic Facebook