DETROIT (AP) - A Michigan-based banking company is moving its headquarters from Midland to Detroit and plans to construct a 20-story building downtown.

Officials announced Wednesday that Chemical Financial Corp., the holding company for Chemical Bank, will immediately make its current space in Detroit its headquarters and the new building is part of its longer-term plans.

Chemical Bank says it will add roughly 500 workers to Detroit once the new building is done and it plans to keep 500 employees in Midland. The mid-Michigan city also will keep serving as the company’s corporate operations center.

Chemical Bank CEO Tom Shafer says in a statement the company expects to make several additional investments in the city.

Detroit also announced that Chemical Bank will serve as the city’s new primary banking partner.

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