Sharp Moving U.S. Headquarters from Mahwah to Smaller Building in Montvale, NJ
North Jersey reports that Sharp Electronics announced on August 24th that it’s moving its U.S. headquarters, which includes about 350 workers, from its Mahwah, New Jersey, location to a smaller building located in Montvale, New Jersey.
Sharp Electronics’ current U.S. headquarters are located in norther New Jersey near the New York State boundary at the intersections of Routes 17 and 287. This location will be leased to auto-maker Jaguar for its U.S. headquarters.
According to North Jersey, the New Jersey Economic Development Authority offered Sharp $6.9 million in tax credits last spring to remain in New Jersey. Sharp had said that it was considering moving to a location in the Pfizer campus located in Pearl River, New York.
According to Susan Osgood, vice president for corporate human resources at Sharp, the tax breaks were a factor in Sharp’s choice of 100 Paragon Drive in Montvale. Sharp is said to have signed a 10-year lease for two floors at the Paragon Drive building. It is said to be seeking to renovate the space “extensively for updated technology.” The building will house Sharp’s U.S. copiers and professional-displays division, as well as its home appliance and consumer-electronics divisions.
Early in 2015, Sharp sold its Mahwah building for $38 million and then leased it back.
- August 2016: Foxconn’s Tai Jeng Wu is New President and CEO of Sharp Corporation
- August 2016: Sharp Posts Loss for Quarter, Business Solutions Group’s Sales Down 3.8 Percent
- July 2016: Nakayama is New President of Sharp Business Solutions Company
- May 2016: Sales, Profits Down for Sharp’s Fiscal Year, but Business Solutions Group’s Sales Up
- March 2016: Foxconn to Invest Billions of Yen in Sharp’s Business Solutions Group
- March 2016: Foxconn Takes Controlling Interest in Sharp in Reduced Buyout
- February 2016: Loss for Sharp’s Nine Months; Business Solutions’ Sales Steady
- January 2015: Sharp Sells U.S. HQ in Mahwah, but Will Lease Site to Stay There