Target Corporation plans to move 3,900 employees and contractors out of its downtown Minneapolis offices and into its office complex in Brooklyn Park, according to a Pioneer Press report.
The Minneapolis-based retail giant reportedly said that 2,400 employees in technology services and 1,500 contractors will move to its offices in the north suburban city between 2012 and 2014.
"Target is looking to develop a corporate technology campus in the Brooklyn Park site, and so . . . we anticipate we will transfer all of our technology base team members and contractors out to that site," Target spokeswoman Molly Snyder told the Pioneer Press.
Target has long been one of the largest employers in downtown Minneapolis, where it now reportedly has about 10,000 employees, compared to only 1,300 employees at its suburban Brooklyn Park campus.
Snyder told the St. Paul newspaper that the move doesn't weaken the company's commitment to downtown, where it has "run out of available space."
The move, however, would require Target to build additional office space in Brooklyn Park, which it reportedly needs in order to accommodate the employees it plans to move. Snyder told the Pioneer Press that the company is in discussions with the City of Brooklyn Park about the possibility of constructing an office building of at least 250,000 square feet in the city.
According to a Star Tribune report, Target struck a deal with the city in 2006, which provided the company with a tax abatement. The city can now opt out of the five-year contract with Target, and the company wants to make sure that its terms remain intact.
Target serves customers at 1,767 stores and on its Web site. It is Minnesota's second-largest public company based on revenue, which totaled $67.4 billion in its most recently completed fiscal year.