Office Depot picks Fla., not Ill. for headquarters

CREATED Dec. 10, 2013 - UPDATED: Dec. 10, 2013

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BOCA RATON, Fla. (AP) - Office Depot has picked Florida for its global headquarters, choosing Boca Raton over the Illinois home of its merger partner OfficeMax.

Last month Office Depot Inc. and OfficeMax completed their $1.2 billion merger and took the name Office Depot.

OfficeMax was based in Naperville, while Office Depot is in Boca Raton.

In mid-November, Office Depot named Roland Smith as its new CEO. The company said he'd help decide where the combined company would be based.

Smith says in a statement Tuesday that after assessing its options the company determined Boca Raton provided a way for it to drive better profitability and reach planned savings.

Office Depot looked at a number of factors before making its decision, including the cost to run each location, lease obligations, government incentives and tax implications.

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