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Institute to Relocate Certain Operations

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The AICPA Council approved the Institute’s recommendation to transfer selected operations from Jersey City, N.J., and New York City to Durham, N.C. The decision to relocate was based on the continuing rise of labor costs in the New York metropolitan area and unused space in the Jersey City office. The Institute expects the move to produce a savings of approximately $10–$11 million for each of the next 15 years.