The initiative was driven largely by the continuing escalation of labor 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 is expected to provide the AICPA with an annuity savings of approximately $10-11 million dollars per year over a 15-year period.

The New Jersey offices include the Journal of Accountancy and CPA2Biz.com staffs, customer service and call centers, and other functions such as finance and accounting, information technology and human resources.

With few exceptions, the association's New York and Washington, D.C. offices will not be impacted by this move.

Barry Melancon, president and CEO of AICPA, said that a critical objective for the move is to mitigate any disruption to service to AICPA members during the transition period. "No other factor is as critical as maintaining effective ongoing membership service. For this reason we are planning a significant period of duplicate operations for impacted functions. In addition we have brought an experienced project management firm on board to drive the highest quality of planning and execution of the move."

The AICPA has a conservative employee relocation estimate of 20 percent. The association will provide relocation assistance and a comprehensive separation package for those who do not remain with AICPA but who help the organization through the transition.

"We recognize that change is not easy, and we will do everything possible for our members and for our staff to ensure a smooth transition," said Melancon. "We believe this is the right long-term decision for AICPA. The Raleigh-Durham area offers a premier labor market and significantly lower operating costs, as well as an exceptional quality of life for our staff."