First Chicago Corp. said Friday it will move the administrative offices of its First Chicago Trust Co. subsidiary from New York to Jersey City, N.J. The unit plans to transfer 1,000 employees to a new, 36-story office tower by mid-1933.
First Chicago is the first major company in four years to move to what New Jersey Governor Jim Florio calls his state's "gold coast," an industrial area along the Hudson River.
Former First Chicago chairman Barry Sullivan earlier this year was named a deputy mayor of New York in charge of economic development and finance. One of his prime goals is to keep businesses from relocating outside the city.
A First Chicago spokeswoman said Mr. Sullivan was not involved in the negotiations.