International architecture firm Gensler is moving its regional headquarters to downtown Los Angeles after operating for more than 20 years in Santa Monica.

The move is viewed as a coup by Los Angeles officials, who are attempting to woo businesses to the city with a program that exempts new arrivals or start-ups from paying gross receipts taxes for three years.

Gensler will occupy the upper two floors of a three-story building nestled between the twin 52-story skyscrapers of City National Plaza, according to a press release issued by the company on Friday.

Gensler is involved in major projects downtown including L.A. Live and the Broad Museum. The firm is considered a leading contender to design the downtown football stadium proposed by L.A. Live owner AEG, according to the L.A. Times.

Executives with the firm told the L.A. Times that having an office in fashionable Santa Monica has been a financial hardship for many of the firm’s 230 employees.

“It is about time that a company that has done so much to transform and revitalize downtown L.A. will finally be located near all the iconic landmarks they designed,” said Los Angeles Mayor Antonio Villaraigosa. “Gensler’s relocation is just the latest example of companies moving to Los Angeles to take advantage of our city’s business-friendly incentives … .”

Gensler plans to expand by more than 40 percent in the next five years.

Gensler’s Santa Monica office is located at 2500 Broadway.

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