Panasonic Headquarters to Open in 2013

Panasonic executives and Newark, N.J., Mayor Cory Booker Wednesday formally announced that the company will move its corporate headquarters to Newark beginning in 2013. The company will build what it calls "a new, state-of-the-art, sustainable high-rise office building" near the city's Riverfront Center.

"This is a very exciting time in the life of Panasonic," Joseph M. Taylor, Chairman and CEO of Panasonic Corporation of North America, said as part of the announcement.

"This is the culmination of a very exhaustive process for us in which we examined all of the options available to us that would meet our needs and goals for our future as a green business technology leader. We are most grateful to the State of New Jersey and City of Newark for their support and efforts to make it possible for Panasonic and its employees to remain right here in New Jersey."