The Chemours Company has announced it has entered into an agreement to sell The DuPont Building to The Buccini/Pollin Group, Inc. (BPG), a privately held, full-service real estate acquisition, development and management company.

Chemours will lease back office space as a long-term tenant, thereby keeping its global headquarters and nearly 700 employees in downtown Wilmington. The sale is expected to be completed during the first quarter of 2017, and renovations will begin approximately three months after the close to transform a major portion of this multi-use building into The Chemours Company world headquarters.

“We followed a disciplined process deciding where to locate our headquarters,” said Chemours president and CEO Mark Vergnano. “We evaluated a number of locations against a range of criteria, including convenience of our current employees, our future workforce needs, and the fiscal impact on the company. Ultimately, our decision to stay in our current building satisfied all of those considerations. And we are very excited to be working with BPG to create a modern office environment that will be a reflection of our corporate brand.”

In August 2016, Chemours announced its intent to locate its global headquarters in downtown Wilmington. Throughout the evaluation process that led to this decision, the company received strong support from elected officials at the local, state, and federal levels, all of whom made it clear that Delaware, and specifically Wilmington, is an attractive venue where 21st century businesses can succeed and grow.

Governor Jack Markell played an important role in helping Chemours make its decision, including supporting legislation in 2016 (the Delaware Competes Act) that updated and reformed the state’s corporate income tax law. The legislation, which made Delaware’s corporate tax policies for businesses large and small more competitive with other states in the Mid-Atlantic region, enjoyed strong bi-partisan support in both chambers of the Delaware Legislature thanks in no small measure to the leadership of House Majority Leader Valerie Longhurst, the bill’s chief sponsor.