Rising real estate and labor costs in the New York metropolitan area along with excess space in the Jersey City location have prompted a proposal to relocate select operations of the American Institute of Certified Public Accountants (AICPA) to the Southern Atlantic region. The Governing Council is scheduled to vote on the proposal next Tuesday.
“The relocation would position us for the next century of service to CPAs of this country,” said Barry C. Melancon, AICPA President and CEO. “But ultimately, this decision is in the hands of Council. No matter what happens, this organization is committed to providing the highest quality services to and advocacy for CPAs across the country.”
The proposed relocation, if approved, is expected to provide an annuity savings of approximately $10 to $11 million per year over a period of 15 years while continuing to offer members a rich pool of services and increasing operational efficiencies. With few exceptions, the AICPA’s New York and Washington D.C. offices will be unaffected by the move.