Diebold, Incorporated (NYSE: DBD) today announced that it has signed a purchase agreement for the preferred site of its new global headquarters campus.
The agreement includes 55 acres of land in Green, Ohio, on the Union Square site - near the intersection of Massillon Road and Town Park Boulevard, adjacent to Interstate 77 south. Diebold would also hold the right of first refusal to an additional 36 acres of land surrounding the site.
Finalization of the site is contingent upon several steps that will occur during the coming months, including environmental and land testing, site pre-planning, necessary approvals from the State of Ohio, council approval from the City of Green, and local school board approvals.
If the land passes environmental inspections, site due diligence activities and the project receives local, state, and federal government approvals, Diebold anticipates finalizing the site selection process during the second half of 2012 and breaking ground sometime in 2013. Initial plans call for a 500,000 square-foot building to house Diebold's new global headquarters. The company anticipates construction of its new headquarters will be completed 2-3 years after breaking ground on the site. If the land fails inspections, or necessary approvals are not obtained, the company will consider alternative sites.
"This is another exciting step for Diebold in our journey to building a truly world-class presence right here in Northeast Ohio," said Thomas W. Swidarski, Diebold president and chief executive officer. "Our preferred site in Green provides us with the characteristics we coveted in a location, as well as continuity and convenience for our associates and a first-class presentation for our customers."
"The initial plans for our new global headquarters campus will allow us to further align our organization, enhance our ability to recruit and retain top-tier talent, and help build a stronger community -- all while helping transform Diebold into the true services business we aspire to become," Swidarski continued. "I'd like to recognize Green Mayor Dick Norton and his planning and development tennd development team for helping provide the vision necessary in enabling us to take this step. Also, Canton Mayor William Healy and his staff were very proactive with us and did a great job putting together a very compelling, aggressive plan for a potential site. About 70 percent of our local associates live in Stark County, and we take our 140-year presence in the Canton area very seriously. However, our extensive evaluation showed that the company's needs would best be met by everything offered by our preferred site in Green. We also acknowledge and appreciate the efforts of Gov. John Kasich and his team to provide the competitive package necessary to help ensure Diebold's future in Ohio and in this area. We remain committed to Northeast Ohio, and look forward to continue making a positive contribution to this region."
Diebold will work with the site developers and the City of Green to develop the Union Square property and complete other necessary elements of the project moving forward.
"After many months of work, we are pleased that Diebold is committing to build its new global headquarters in the heart of Green," said Dick Norton, mayor, City of Green. "Diebold will be a major focal point in Green's town center. While much work still needs to be done, we are excited to work with a great company and a team of committed partners who will help make this project a reality, including Governor Kasich and his administration; Summit County and Executive Russ Pry; the Summit County Port Authority; and Green City Council; just to name a few."
Bob DeHoff, president of DeHoff Development Company, the developers of the Union Square site, said, "Diebold's announcement today validates our faith in the I-77 corridor and the great promise this development holds for the Akron/Canton region. We believe Diebold locating at Union Square will create a strong platform for additional class 'A' users. It's an honor for the DeHoff family to be involved with the Diebold global headquarters for the second time in 40 years."
Diebold's new corporate campus will house about 1,500 of the company's employees in its global headquarters. These include research and development operations, hardware and software engineering functions, and sales and marketing areas for the company's financial self-service, security and integrated services businesses. The company's corporate financial and administrative operations, customer service and event monitoring centers, and employee training and education functions will also reside in the new facility.