Chipotle has decided to move its headquarters from its longtime hometown of Denver to Southern California. The announcement came last month and it will end the restaurant chain’s 25 year tenure of having its headquarters in Colorado. The new home for Chipotle will be in Newport Beach, which is near fast-food chains Del Taco, In-N-Out Burger, and Taco Bell. In a statement, Chipotle said it will spend the next six months moving corporate staff to Newport Beach. Brian Niccol, Chipotle’s CEO stated,
The consolidation of offices and the move to California will help us drive sustainable growth while continuing to position us well in the competition for top talent.
Restaurant employees and field operations workers are not impacted by the move. Unfortunately, not all of its 400 corporate employees in Denver and New York will be offered relocation or retention packages. This move is great news for Newport Beach and Southern California’s economy. Hopefully, more companies decide to move to California so that the economy continues to thrive in the state.