Air Products, an industrial gas company, recently announced the location of its new global headquarters, which will be just over one mile from its existing Lehigh Valley location.
A groundbreaking for the 50-acre property is expected to be held in March 2019, while the facility is expected to be completed by the summer of 2021. The site will include an enclosed parking structure for employees, a research and development facility and administration offices. The company has not disclosed a project cost.
“Now, we have made the location decision and we begin our preparations to build facilities that represent our world-class company,” Seifi Ghasemi, Air Products chairman, president and CEO, 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.”
Air Products decision to stay in the community will have a positive impact, Don Cunningham, president and CEO of the Lehigh Valley Economic Development Corporation, said.
In the past two years, Air Products has divested noncore businesses and now has excess space at its current location. The building has maintenance costs totaling approximately $20 million annually.
In fiscal year 2017, Air Products had $8.2 billion in sales.