Chemical Bank architectural rendering.
Chemical Bank, the largest Michigan-based bank, is moving its headquarters from Midland to downtown Detroit.
A mayoral tweet welcomes "Detroit’s new hometown bank to the city," an indirect slap at Comerica, which moved its headquarters from downtown to Dallas in 2007.
Chemical Bank, founded in Midland in 1917, expects to move about 500 workers into a new high-rise at Woodward Avenue and Elizabeth Street, next to the Ilitch family's Little Caesars Global Resource Center, city officials announce. The building is expected to be completed within 2 1/2 years.
Crain's Detroit Business calls it "one of the biggest corporate recruitment wins for the city in recent memory."
Detroit's government says:
Chemical Bank, Michigan’s largest headquartered bank, will serve as the City’s new primary banking partner. In partnership with First Independence Bank, Chemical Bank will provide banking services such as deposit, receivables and payment solutions.
The statement cites those banks' strong local loyalty.
The mayor's chief of staff tweets:
So excited to welcome Chemical Bank!!! Can’t think of a better birthday present for the @CityofDetroit! https://t.co/1I6QLHgK3e
— Alexis Wiley (@AlexisWileyNews) July 25, 2018
