Hertz to move headquarters to Estero

FORT MYERS — The Hertz Corp. announced today it is relocating its worldwide corporate headquarters from Park Ridge, N.J., to Estero in Lee County.

The company says it made the decision following its November acquisition of the Dollar Thrifty Automotive Group, which is currently headquartered in Tulsa, Okla. The Fortune 300 company was looking for a place to consolidate the corporate offices to increase efficiencies between the companies, and Florida made sense as the hub of the travel and tourism industry, says Mark P. Frissora, Hertz chairman and CEO, in a news release.

Hertz says it will employ 700 people with an average wage of $102,000, excluding benefits, in Lee County. It also plans to build a 300,000-square-foot headquarters building that is estimated to cost $68.75 million.