Construction materials company GCP Applied Technologies is moving its global headquarters to Georgia from Cambridge, Mass., and hiring 80 people in the state.
The global company boasts more than 2,000 employees, serves customers in more than 100 countries and operates manufacturing sites throughout the world, including multiple factories in Georgia.
“With a strong manufacturing presence in the state, GCP Applied Technologies has long been a member of our family of Georgia businesses,” said GDEcD Deputy Commissioner of Global Commerce Scott McMurray. “It’s a pleasure to welcome GCP Applied Technologies to their new home in metro Atlanta.”
Simon Bates, president and CEO of GCP Applied Technologies, said the company was drawn by the region’s cost structure, business climate and diverse workforce.
“We worked with a third party to review more than six potential locations and we are confident that the Atlanta metro area will be the best possible home for our headquarters. The city has a diverse professional talent pool, strong market characteristics and its affordability makes it attractive to both employees and employers,” Mr. Bates said in a GCP news release.
GCP focuses on cement additives and makes products used for roofing underlayment, waterproofing, flooring and in other applications.
It wasn’t immediately clear from a news release in which part of the metro area GCP would locate its offices. The company sold its Cambridge headquarters last July for $122.5 million but said its research and development group would remain in the Boston area.
In 2020, the company posted yearly sales of $903 million, a 10.9 percent drop from the year before. GCP announced a restructuring March 31 that executives believe will result in pre-tax savings of $13 million to $15 million annually, fully realized in 2022 when factoring in the headquarters move and savings from Georgia quality jobs tax credits it expects to receive.