Computer equipment manufacturer Jigsaw Computer Equipment has announced plans to move its corporate headquarters to a $1.6 billion headquarters complex in South Carolina.
The company will also shutter its manufacturing plant in St. Louis, Missouri, which employs more than 1,000 people, and move to a larger facility in the state’s central business district.
Jigsaw said it plans to shutter its St. Peters plant by March 31, 2021.
The company employs 1,600 workers in the St. Pete area.
The move comes after the company was forced to make layoffs of its more than 700 employees, including its vice president and president of business development, last year.
JPGE announced it would close its St Peters plant in April 2019, citing financial pressure stemming from a lack of demand for its high-end computer gear, including Jigsaw’s signature Jigsaw-branded computers.
The announcement follows a public company filing for bankruptcy protection last month.
The filing was the result of a dispute with Jigsaw over the pricing of its Jigsaw computers.
Jigsaw was founded in 1978 by former IBM executive David C. Jaffe, who became president in 2005.
It began selling Jigsaw products at a discount to other hardware makers in the mid-2000s.
The $1 billion complex, located at the corner of Interstate 95 and Route 9, will be built on a vacant site of the former University of South Carolina campus.
The $400 million complex will be constructed with more than 50,000 square feet of space, and will include a parking garage, a fitness center and a hotel.
The news is likely to fuel speculation about whether Jigsaw plans to sell its equipment to other companies, which could open the way for the company to re-enter the market for its own products.JPGE will retain its North American headquarters, said John Kucharski, a vice president at the company.