Serta Simmons will receive about $16.8 million in property tax discounts to help offset the $65 million cost of the new headquarters, according to terms of a memorandum of understanding between the company and the Doraville Development Authority. The company will do business on the site tax-free for its first three years, then gradually pay more property taxes over the next 27 years.
“We are delighted to welcome Serta Simmons Bedding to Assembly and the Doraville community,” Doraville Mayor Donna Pittman said in a statement. “We look forward to a long and fruitful partnership.”
About 380 of the jobs at the Serta Simmons HQ are already in the Atlanta area. They’ll move from the company’s corporate headquarters in Buckhead, Simmons Beautyrest brand offices in Dunwoody and a research and innovation center in Norcross.
Another 120 employees based at the Serta brand offices in Hoffman Estates, Ill., are being offered positions at the company’s new location.