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AICPA Looks to Relocate for Cost Savings Oct. 19, 2005 (SmartPros) The American Institute of Certified Public Accountants said that its governing council will be voting later this month on whether to relocate the majority of its New Jersey office and select teams in New York to a location in the Southern Atlantic region. The new location was not disclosed due to ongoing negotiations. The proposal to relocate is the result of an extensive financial and location analysis conducted by AICPA management, with the assistance of objective consultants. The initiative was driven largely by the continuing escalation of labor and real estate costs in the New York metropolitan area, as well as the existence of excess space in AICPA's Jersey City location. The association plans to sublet its excess office space for the remaining term of its lease. The relocation, if approved, is expected to save approximately $10-11 million dollars per year over a 15-year period. With a few exceptions, the association's New York and Washington, D.C., offices would not be impacted by this move, the AICPA said. The AICPA Governing Council will be voting on this proposal on October 25-26 at its annual fall meeting. 2005 SmartPros Ltd. All rights reserved. |
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