Waste Connections, the company that provides solid waste collection, transfer, disposal and recycling services for El Dorado County and over 2 million customers across the country, announced on Monday the move of the company’s headquarters from Folsom to The Woodlands, Texas.
The relocation was spurred due to the company’s distaste with the current business climate in California. Waste Connections is also not satisfied with new legislation that limits the amount of trash a private landfill can take from other cities and counties.
Because of these current issues, the expanding geographic reach, and the continuing growth of the company, Waste Connections chose to relocate to Texas for the benefit of the company and its employees.
“The Woodlands offers our employees an attractive, lower cost, and more centrally located community well serviced by two major airports,” states Ron Mittelstaedt, chairman and chief executive officer of Waste Connections, in a press release.
However, the move does come at a cost for the region. Waste Connections is the largest publicly held company based in the Sacramento area, as seen by its $3.6 billion market capitalization. Additionally, the company provides employment for about 120 to 130 workers at its headquarters. Although all employees were given offers to relocate, this move brings changes and adjustments for many.
The move will also cause the company to spend about $15 million in personnel and office relocation costs. Additionally, Waste Connections may incur another loss from its current office lease in Folsom.
Throughout the years, Waste Connections has contributed to several community organizations and charities in the area such as Snowline Hospice, the Grace Foundation, and local elementary and high schools. The company still plans to lend an altruistic hand, despite its relocation.
“We will be forever grateful to our many friends and supporters across California, and we remain committed to continuing our corporate and employee-led philanthropic support within the local communities where we operate,” said Mittelstaedt.
The company will begin its moving processes before the year ends in 2011. Waste Connections plans to complete the relocation by September 2012.