German automaker Mercedes-Benz (MBGAF) has announced plans to establish its North American headquarters in Atlanta, Georgia.
The City of Atlanta has been Mercedes-Benz’s U.S. headquarters since 2018.
Now, the automaker is expanding its American corporate hub to cover all North America, adding hundreds of new jobs in the process.
The company said it will add about 500 net new jobs to its Georgia facility, which currently employs about 800 people.
Mercedes-Benz also plans to add a new, multimillion-dollar research and development center near Atlanta.
Most of the additional jobs will be shifted to Atlanta from the Detroit area, where Mercedes-Benz is closing its financial services headquarters.
Mercedes-Benz said in a press release that the headquarter expansion in Georgia will be completed by August 2026.
In recent years, Georgia has succeeded in attracting automakers.
Porsche also has its North American headquarters near Atlanta, while Hyundai (HYMTF) and Kia (KIMTF) both have large manufacturing plants in the state.
Electric vehicle maker Rivian (RIVN) is building a manufacturing hub in Georgia.
The stock of Mercedes-Benz is flat on the year (down 0.66%) and currently trading at 52.53 Euros per share.
