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Panasonic Moving To Newark, N.J. In ‘13

4/20/2011 12:28:04 PM Eastern

Newark, N.J. - Panasonic and the City of Newark have confirmed that the CE manufacturer will move its North American headquarters here by 2013.

Panasonic said 1,000 of the company's employees will move into a new, state-of-the-art, sustainable high-rise office building to be constructed adjacent to Newark's One Riverfront Center.

The announcement ends a search that began right after International CES in January in which reported contenders were Atlanta, Brooklyn, N.Y. and Chicago, among others.

A key part of the decision is a $102 million state Urban Transit Hub credit from the state of New Jersey, which has been opposed by the City of Secaucus and Panasonic's current landlord, Hartz Mountain Industries.

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