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The economic development score between Georgia and New Jersey is now tied. Newell Brands announced today that it plans to move its corporate HQs to Hoboken, vacating its flag on Atlanta, where it has been since 2003. Company officials say the 1,000 staffers in Atlanta—who recently moved to a new facility in Sandy Springs, as we reported first—will be unaffected by the move.
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The move comes on the heels of Newell Brands' merger with Jarden Corp, which is creating a $16B consumer goods company. CEO Michael Polk says the move will "enable us to continue expanding our global e-commerce and design teams. Our new location will unlock tremendous access to talent in these areas as we build a new future together." It certainly doesn't hurt that the New Jersey Economic Development Authority structured $27M in tax incentives to lure Newell to the state. New Jersey, of course, is still smarting over the loss of the Mercedes-Benz HQ to Atlanta. The luxury carmaker is developing a new HQ in Sandy Springs.
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