Waste Connections, Inc., is moving their headquarters out of California.
The company announced Monday morning they are relocating their corporate headquarters to The Woodlands, Texas because the Houston suburb “offers our employees an attractive, lower cost, and more centrally located community…” said Waste Connections’ Chairman and Chief Executive Officer Ronald J. Mittelstaedt.
In an interview with FOX40, Mittelstaedt also cited a bad business climate in California, depressed housing market and a lack of good schools for employees’ kids as reason for the move.
The solid waste services company was based in Folsom and employed about 120 people at their headquarters. They collect, transfer, dispose of and recycle solid waste from 29 states.
In a press release announcing their headquarters move, Waste Connections says they expect to incur $15 million in costs next year to relocate to Texas. They also state they expect to lose an unspecified amount on their existing corporate office lease in Folsom.
“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 estimates the total economic hit to Folsom because of their relocation to be around $90 million.
Mittelstaedt said employees at their Folsom headquarters were all offered the opportunity to relocate, and he expects many of them to make the move.