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TINLEY PARK, IL-Panduit Corp., headquartered here, is planning to construct a new corporate headquarters on a 52-acre site along Interstate 80 on the east side of 80th Avenue. The manufacturer of products for wiring and communications applications is currently headquartered at 17301 S. Ridgeland Ave., here.

The new site is about four miles from the current location, according to a Panduit press release. Representatives from Panduit declined to be interviewed.

Panduit will invest $39.4 million in the new headquarters, according to a released statement from Illinois Gov. Rod Blagojevich’s office, which is offering economic incentives to the corporation. Panduit is reportedly under contract to acquire the Windy City Campground, at 18701 S. 80th Ave., which had an asking price of $13 million.

Panduit currently occupies 750,000 sf in the village of Tinley Park and has research and development operations facility in adjacent Orland Park. The new facility is for “future expansion to accommodate an additional 1,200 staff,” according to Panduit’s released statement.

The company was established in 1955 and has affiliates in 33 countries. The current headquarters is in Cook County while the new headquarters will be located in the portion of the village in Will County, which traditionally has lower taxes than Cook. The corporation will also receive $13.4 million in tax credits from the state.

The move is expected to create 55 jobs and retain 505 jobs, according to the state’s press release. Gensler, Affiliated Engineers Inc. and Power Construction will design and construct the new headquarters, according to Panduit’s released statement. Construction is expected to begin in the spring with occupancy in the summer of 2009.

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