Carillion is to keep its headquarters in Wolverhampton city centre after an agreement between the group and Wolverhampton City Council .
The company, which is based in Construction House in Birch Street and Peal House in Waterloo Road, has for some time been investigating options for relocating to a single site within a ten-mile radius of the city.
Now it will stay where it is. Councillor Roger Lawrence, leader of Wolverhampton City Council, said: " Carillion staying in the city centre is great news for the area.
"We are very pleased that we have been able to come to an agreement that such a high-profile company and large-scale employer is to remain. This is another example of a major company wanting to be part of the regeneration of the city."
Councillor Louise Miles, cabinet member for economic development, said: "We are committed to retaining large companies within the city centre as their presence and the jobs they bring play a vital role in its economy and have a significant knock-on effect for surrounding businesses and employment sites."
Additional car parking spaces for Carillion employees has been made available through a land-swap deal between the company and the council, which will see Carillion leasing the Birch Street car park, whilst the authority will lease land for an alternative car park at the rear of the Molineux Hotel from the firm in return.