Mosaic Moving Headquarters Out of Plymouth
Plymouth-based Mosaic is relocating to Florida to be closer to other business interests. The company announced the move Tuesday.
Mosaic’s new home will be in Hillsborough County in the Tampa Bay area. A global powerhouse in the fertilizer business, Mosaic wants to cut costs by being closer to phosphate mines they own in Central Florida.
Plymouth city officials were caught off guard by the announcement.
“Yeah a little bit shocked,” said Plymouth city manager Dave Callister. “They obviously made a business decision and the impact on the city of Plymouth we think will be insignificant because they’re basically moving their headquarters.”
Callister says Mosaic will still maintain a presence in Plymouth and the move won’t cause any significant job losses.
Mosaic, a Cargill spin-off
Mosaic, a Fortune 500 company, is Minnesota’s 14th largest public company. It spun off from Cargill in 2011 and has been a major player on the Plymouth business scene since then. The company’s annual sales are $7.4 billion.
Losing a giant like Mosaic is a blow, but Callister believes the city will weather the storm.
“We’re going to miss having them being the headquarters here and the executive team and the decisions and the byline that is a Plymouth company,” Callister said. “But I think they will maintain their presence and if they do reduce, we have a high office demand in the area. We have no doubts that there will be other companies in this building or other buildings that will continue to call Plymouth home.”
Mosaic has approximately 8,500 employees at all of its locations, which include Brazil, Saskatchewan, Central Florida and the Twin Cities.