Evanston’s largest business will soon move out of the city to nearly double its space.

Shure Inc., which manufactures microphones and audio electronics, will move just a few miles from 222 Hartrey Ave. in south Evanston to the nearby village of Niles, a company press release announced Wednesday.

The company employs about 500 people, said Jonathan Perman, executive director of the Evanston Chamber of Commerce. Shure’s plant is about 10 acres while the future site will cover 18.6 acres. The chamber had worked for more than a year to find an alternative location in Evanston for Shure.

“While we are sad to leave our Evanston home of nearly 46 years, Shure is a growing company and we needed to find a new home that could accommodate that growth,” said Sandy LaMantia, Shure’s president and CEO, in the release.

Ald. Edmund Moran (6th) said he thinks the city’s high property tax rates and continuing discussions on a head tax may have affected Shure’s decision to move to Niles.

Shure’s departure will mean more than just the loss of tax revenue, Moran said. The company is well-regarded in the area and contributes much more to the city – including the microphones at the Evanston Civic Center

According to records from the Cook County Assessor’s Office, Shure paid more than $240,000 in property taxes in 2000 for its Hartrey Avenue location. This money goes to the two Evanston school districts as well as to the city.

Because Shure chose nearby Niles rather than the farther-away Hoffman Estates, Evanston employees will be able to keep their jobs, Perman said.

Perman said the company’s agreement to buy the property from CenterPoint Inc. encourages CenterPoint to market Shure’s vacant property aggressively in Evanston.

There are businesses in Evanston that likely will be interested in the property when it becomes available, he said.