Archer Daniels Midland looking to move longtime headquarters

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Agribusiness giant Archer Daniels Midland Company says that after 44 years in the small Illinois city of Decatur, it's looking for a new headquarters location.

CEO Patricia Woertz says in a news release Monday that ADM needs a global center with better access to customers and employees around the world.

The company says it doesn't plan layoffs and will keep 4,400 workers in Decatur, which also will become ADM's North American headquarters.

ADM says the new headquarters would have about 100 employees, along with 100 new IT jobs.

ADM is the largest employer in Decatur, which is about 180 miles south of Chicago. The company says it won't publicly discuss details about where it might locate the new headquarters.

ADM is No. 27 on the Fortune 500 list.

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