Weyerhaeuser leaving Federal Way, heading to Seattle

SEATTLE -- Federal Way-based timber company Weyerhaeuser announced plans on Tuesday to move its headquarters to Seattle.

The move will take place in mid 2016, when construction of the new Pioneer Square headquarters is finished, the company said in a news release.

"There are two main drivers for this decision, which we made after thorough analysis of various options for the location of our headquarters," company president and CEO Doyle R. Simons said in the news release. "First, our 430-acre campus in Federal Way is costly and too large for our needs. Second, moving our headquarters to Seattle will give us access to a larger talent pool to meet future recruiting needs, not just in this region, but from across the country."

The company, which began operations in 1900, will divest the land and buildings it currently owns in Federal Way.

"Weyerhaeuser has a long successful history in Federal Way," Simons said. "We've attracted great people to work here and this campus has served us well. Moving to Seattle is an important step forward for us and I'm excited about the opportunities it will bring to our company and employees."

Weyerhaeuser is one of the world's largest private owners of timberlands. It currently owns or controls nearly 7 million acres of timberland in the United States and manages another 14 million acres in Canada, according to the company.

In 2013, Weyerhaeuser's continuing operations generated $7.3 billion in sales and employed approximately 13,000 people.