NEWARK, N.J., Oct. 18, 2011 /PRNewswire/ -- Today, New Jersey Governor Chris Christie and Lt. Governor Kim Guadagno addressed assembled Panasonic
Corporation of North America
employees at the future site of the company's headquarters in
Newark, NJ. The Governor and Lt.
Governor commended Panasonic's decision to remain and grow in
New Jersey. Panasonic Chairman
& CEO, Joseph Taylor addressed
city, county and state officials, developers as well as company
employees, thanking them for their continued support.
Panasonic's new, state-of-the-art, sustainable high-rise office
building will be constructed by Matrix Development Group and SJP
Properties adjacent to Newark's
One Riverfront Center. The structure will be home to 1,000
Panasonic employees and contractors, beginning in 2013. The new
facility will total 410,000 square feet, with 250,000 square feet
leased to Panasonic.
"This project was a great collaboration between government at
all levels and demonstrates a commitment to creating jobs," said
Panasonic Corporation of North America Chairman and CEO,
Joseph M. Taylor. "Panasonic is
committed to serving as a worldwide green business technology
leader, and our planned office tower in Newark will allow us to meet and exceed our
goals now and in the future."
New Jersey Governor
Chris Christie also cited
Panasonic's choice of relocation to Newark as an example of a trend. "This
is another success story about one of our largest businesses
choosing to stay in New Jersey,
and [us] continuing to grow and invest in our state and people,"
Governor Christie said. "This project directly benefits New
Jerseyans by keeping over 800 jobs here, creating up to 200 new,
permanent positions and spurring the private investment of an
estimated $190 million in one of our
key urban centers. Our agenda to lower costs, improve the business
climate and create jobs is having an impact, with Panasonic's
decision, the latest example of a global company that is choosing
to call New Jersey home. Creating
good-paying Jersey jobs for our families is a top priority of my
Administration. This is why $2.35
billion in targeted, impactful tax cuts to spur growth and
job creation were a core aspect of my budget, and why we will
continue to take strong action to get our economy moving."
Lt. Governor Kim Guadagno, who
leads economic development efforts for the Christie administration
through the Partnership for Action, said, "Competition between
states for companies and investment of any size has never been
stronger. When you're talking about a world-renowned, pioneering
leader such as Panasonic Corporation, that competition is
multiplied tenfold. Panasonic reaffirming their commitment to
New Jersey is further evidence
that the Partnership for Action is working exactly as the Governor
and I envisioned, to retain and grow quality jobs, spur investment
and enhance the state's reputation in industries critical for
success in the 21st century innovation economy."
Chief Executive Officer of Brick City Development Corporation,
the City of Newark's economic
development corporation, Lyneir Richardson, also spoke on behalf of
Newark Mayor Cory Booker, saying that, "Newark is really working on attracting new
companies to our city, and the Panasonic lease signing signifies
the start of the first office tower in the city in over two
decades. For a company as well known and as well respected as
Panasonic, this is really serving as rocket fuel for our business
attraction and business development efforts, and we thank
Joe Taylor, a true visionary
leader."
Panasonic's decision to have its North American headquarters
remain in the state of New Jersey
has also encouraged further pro-growth, job creation initiatives
such as the proposed "Grow NJ" economic development program.
The NJ Business Action Center worked closely with Panasonic to help
encourage the company to remain in New
Jersey and the Economic Development Authority (EDA) approved
an award of up to $102.4 million
through the Urban Transit Hub Tax Credit Program to support the
company's move to Newark.
About Panasonic Corporation of North America
Panasonic Corporation of North
America is the principal North American subsidiary of
Panasonic Corporation (NYSE: PC), and the hub of Panasonic's U.S.
branding, marketing, sales, service and R&D operations.
The company develops, manufactures and distributes an
extensive range of digital and other electronics products for
consumer, workplace and industrial purposes primarily for the U.S.
and Canada.
About the City of Newark, New
Jersey
Newark, commonly referred to as
Brick City, is the third oldest city in the United States and the largest in
New Jersey, with a population of
more than 280,000 people. Newark
sits on one of the nation's largest transportation super-structures
including an international airport, major rail connections, major
highway intersections and the busiest seaport on the east
coast.
With a new Administration as of July
2006, Newark continues to
see signs of a strong revival. It showed population growth in
the 2010 Census. Its six major colleges and universities are
further expanding their presence. The production of affordable
housing has doubled, businesses are returning and crime is going
down. There is still much work to be done but Newark is on its way to achieving its mission:
to set a national standard for urban transformation.
SOURCE Panasonic