ST. PAUL, MN-Pinnacle Airlines reports it plans to move its corporate headquarters from Memphis, TN to Minneapolis-St. Paul Airport here later this year.

Pinnacle, which is reorganizing under Chapter 11 bankruptcy protection, is moving several hundred employees from Memphis to vacant office space leased by Delta Airlines in the Building C Tower at 34th Avenue S. and Interstate 494, according to the Star Tribune. Pinnacle, a commuter partner airline of Delta, will occupy five floors of the building and expects to relocate operations there by May.

Pinnacle CEO John Spanjers states that the headquarters relocation decision was based on “”an exhaustive evaluation of the most cost-effective option.”

“Both Memphis and the state of Minnesota presented very strong cases. In the end, it was an economic decision,” Spanjers said in a statement. See story in the Star Tribune.