GREENSBORO, N.C. – Burlington-based LabCorp is moving some of its operations and 975 employees to the Citi Cards building in McLeansville.
No jobs are being eliminated because of the move.
LabCorp says it is vacating five of its 15 aging Burlington buildings because the cost and time to repair them is too great. And the money they will save by relocating will allow them to invest about $12 million back into downtown throughout the next five years.
LabCorp Chief Legal Officer F. Samuel Eberts III said in a statement, "This decision will be beneficial in many ways. The Citi Cards building offers a state-of-the-art facility with space to grow, plus shorter commutes for many of our employees."
The five Burlington buildings LabCorp will vacate are (1) 133 East Davis Street; (2) 400 South Main Street; (3) 448 South Main St.; (4) 440 South Main St.; and (5) 432 South Main Street.
The Citi Cards building is located at 5450 Millstream Rd., off the Mt. Hope Church exit on I-40. The 176,000-square-foot building is about 10 years old.
LabCorp says they will work with the city of Burlington to determine the best way to re-purpose its empty buildings.
LabCorp formed after a merger between Roche Biomedical Laboratories and National Health Laboratories in 1995, but has roots that date back to 1905. It employs about 34,000 people worldwide. About 2,500 employees will remain in Alamance County, including 200 at its corporate headquarters on South Spring Street.