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Coeur d'Alene Mines Leaves Namesake Idaho Home

COEUR D'ALENE, Idaho – Idaho is losing one of its oldest silver mining companies to Chicago. The Coeur d'Alene Mines Corporation announced Wednesday it plans to move to the Windy City by the end of September.

The company employs 65 people at its headquarters in Coeur d'Alene in north Idaho. But the firm known as "Coeur" hasn't had any holdings in the state since 2006.

Company spokeswoman Stefany Bales says Coeur managers need easier access to properties in Mexico, Bolivia and Australia.

“Coeur is a company in the midst of a complete transformation, from a regional interest to a more global mining company," she says. "And we believe we can accomplish that in Chicago.”

The state of Illinois also offered Coeur an incentives package to make the move. It includes corporate income tax credits and workforce training funds.

Bales says all the employees in north Idaho have been offered a transfer to the new Chicago headquarters. About 30 percent so far plan to move.

On the Web:

Move announcement - Coeur d'Alene Mines Corporation