Large Firm Moving To Scottsdale Arizona
Scottsdale has snagged the corporate headquarters for one of Washington state's largest private firms. Services Group of America, parent company of the food distributor Food Services of America, will relocate from Seattle to Scottsdale.
Forbes magazine ranked the company 108 on its 2005 list of largest privately held U.S. firms. The company had $2.5 billion in sales in 2004 and has 4,000 employees nationwide, according to Forbes.
About 90 people from the Seattle headquarters will relocate to Scottsdale. The move to Arizona was to avoid Washington's estate tax, which ranges from 10 to 19 percent on estates valued at more than $2 million, according to a statement released by the company.
The company's founder and CEO has a $5 million home in Paradise Valley.
This shows that the Valley is still a very attractive place to have a business when compared to other areas of the country. More...