Panasonic Moving to New Headquarters in Newark
Panasonic will move its U.S. headquarters to Newark, N.J., following a deal with that city, the Wall Street Journal reported. The company's domestic headquarters is currently located in Secaucus.
The deal is for a new, 250,000 square foot building in downtown Newark. The deal was made possible due to $102.4 million in New Jersey tax incentives, the Journal said. The company had been in discussions to move to Brooklyn, N.Y. or possibly to stay in Secaucus, according to reports in recent months.
"Many good people worked to make it happen. Panasonic folks are fantastic partners," Newark Mayor Cory Booker posted to his Twitter account on Tuesday.