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Olympus To Move U.S. HQ

4/06/2004 11:28:00 AM Eastern

Melville, N.Y. — Olympus confirmed plans to shift its U.S. headquarters and distribution center from its offices here to Upper Saucon Township, Pa.

The move, slated to occur in August, 2006, was spurred by cost-savings and an expired lease on the company’s Melville facilities.

According to Olympus, the company began studying the prospect of relocation two years ago, examining 16 different sites from the Midwest to the East Coast.

In the end, a generous tax abatement from Pennsylvania, which Olympus said represented "tens of millions of dollars" of savings, tipped the scales in favor of the Lehigh County location.

Olympus has called Melville home for roughly nine years after it consolidated two New York offices into its single Long Island headquarters. It will offer all 840 employees "in good standing" an opportunity to make the move.