About 60 senior executives and support staff will initially relocate from the company's existing headquarters in Freeport, IL. A small corporate staff will remain in Freeport where the headquarters staff currently totals 350. Newell has 48,000 employees worldwide.

Newell Rubbermaid chose Atlanta over Chicago and Baltimore after a two-year site search. The company hasn't decided on a specific Atlanta location or whether to acquire an existing office building or build a new one.

Atlanta was selected for its "proximity to customers and company locations, exceptional transportation access, good quality of life and affordability," Newell CEO Joseph Galli Jr. tells shareholders in a prepared statement. But area retail and industrial brokers tell GlobeSt.com another factor was Atlanta-based Home Depot Inc., one of Newell's biggest customers. Goody Products, a Newell hair care products subsidiary, is based in suburban Peachtree City, GA.