Complete with two bulldozers and mounds of dirt staged behind them, Mayor Rahm Emanuel and state officials on Wednesday announced that Power Construction would relocate from Schaumburg to downtown Chicago in the new year.
It will be a return to the city limits for the company, which employs about 200 people and has plans to hire 30 more. Power Construction was founded in Chicago in 1926 but has spent 80 years in the northwest suburb.
"This is a cutting edge company, with deep roots in our city," said Emanuel. "They are doing great things around the city, constructing wonderful buildings that help Chicagoans enjoy a high quality of life while spurring economic activity and job creation."
The construction company, with projects such as Prentice Women's Hospital, Lurie Children's Hospital and the Roosevelt Student Academic Center in its portolio, will lease space at Triangle Plaza, at 8750 West Bryn Mawr Ave., officials said.
In a statement, officials said the company will be eligible for tax credits which can be used against corporate income taxes to be paid for up to 10 years. Additional state grants will help keep employees trained.