Zappos, Inc., ranked one of the Best Companies to Work For by Fortune Magazine, has big plans for downtown Las Vegas.
The online shoe retailer known for its innovative corporate culture plans to relocate its headquarters downtown, a move that is expected to boost the local economy and help to revitalize a struggling part of the city.
Zappos expects to relocate 1,200 employees from its existing headquarters in Henderson, Nevada to downtown Las Vegas in late 2013. The new headquarters will be located in the current City Hall site, which, after renovations, will be able to accommodate up to 2,000 employees. Estimates indicate Zappos’ move will impact the economy to a tune of $336.6 million and will result in the city collecting approximately $395,900 annually in additional property taxes.