SEATTLE -- A war of words is building between the mayors of Seattle and Tacoma after a secret offer was made to lure away a major south sound business.

Tacoma Mayor Bill Baarsma is openly saying the move by Seattle Mayor Greg Nickels was "poaching from a smaller neighbor."

The Russell Investment Group is important to Tacoma, employing about 1,000 people and bringing the reputation of an international investment firm to the downtown business core. The multibillion-dollar global financial firm has been headquartered in Tacoma since 1936, but officials there have recently indicated they may look for a new home.

Nickels is making a play for Russell, and Tacoma's mayor is not happy about it.

“If it's true what I read in the paper, it's regretful that the mayor is engaged in poaching,” Baarsma said.

“Obviously, we would welcome them,” Nickels said.

Baarsma, along with Rep. Norm Dicks of Bremerton and local business leaders, are working hard to convince the company to stay, including agreeing to phase out the business and occupation tax to make the deal more attractive.

Now Nickels is also making the same offer, and Baarsma is unhappy the move could come at the cost of a smaller neighboring city.

“I've had a good relationship with Greg. I'm disappointed, but I guess that's the way in which the game is played up north,” Baarsma said.

“We're not out trying to convince them that Tacoma is a bad place and they ought to move. They came to us; they said they were interested,” Nickels said.

Dicks said he spoke to Nickels and tried to convince him to back Tacoma and leave Russell where it is.

“Seattle is a huge city and having Russell there wouldn't make a great deal of difference, but having it in Tacoma is a big deal,” Dicks said.

Nickels said he didn't approach Russell Investments -- it came to him.

“If they stay in Tacoma that's just fine; if they wanna come to Seattle, that's great,” Nickels said. Baarsma said he has not had a chance to talk directly with Nickels about Seattle's offer to Russell.

The company is expected to make a decision to stay in Tacoma or relocate sometime in September.