“We have historically managed our growth from Michigan, but the company has reached a point where we must pursue a strategy that better fits with the long-term growth trends for our company and industry,” said Richard J. Dugas Jr., PulteGroup’s chairman, president and CEO, in a press release.
The company cited regional growth from Northern Virginia down through Florida in its decision, noting that this region represented 37% of its home closings and 43% of its yearend invested capital. It noted that as of 2012, investments outside of Michigan and Midwest market represented 92% of its business.
“It is too early to determine how many employees will ultimately assume positions in Georgia, but for those individuals who do not relocate we will offer a very fair severance package and related outplacement services to help locate a new position in Michigan as the surrounding economy continues to improve,” said James Ellinghausen, PulteGroup’s executive vice president, human resources.
PulteGroup employs 380 people in Michigan, 54 of these work in its local homebuilding operations and will not be affected by the move. When fully staffed, the company expects to employ 300-350 employees at its corporate offices in Georgia.
Also on Friday, the builder indicated it has been active in Northwest Las Vegas and has closed on 39 units there in three separate transactions totaling 20 acres. The land will be used for homes on half-acre lots targeted to mature families and empty nesters.
The company plans to open for new home sales there in early 2014, Scott Wright, president of PulteGroup’s Las Vegas division, said in a press release.
