Panasonic Moving North American Headquarters
Panasonic will be moving its North American headquarters from Secaucus, NJ, to Newark, NJ, reports New Jersey’s Star Ledger.
The company had reportedly been considering a move to either Brooklyn, Atlanta, Chicago, or California. Newark Mayor Cory Booker and Joseph M. Taylor, CEO of Panasonic North America, are expected to make the announcement official at a press conference this afternoon. The move would involve relocating some 800 employees to the Newark facility, which would consist of a new office tower with some 250,000 square feet of space. The office tower is located at the intersection of Raymond Boulevard and McCarter Highway, and which will be called Two Riverfront Center. Panasonic is expected to sign a 15-year lease. As part of the move, Panasonic qualifies for a $102.4 million Urban Transit Hub tax credit it if creates 250 jobs in Newark by 2016, and 200 more jobs within 10 years.