Panasonic To Announce Newark Move Wednesday

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Newark, N.J. - Panasonic is expected to announce the move of its headquarters from Secaucus to this New Jersey city tomorrow morning at 10 a.m. at 1 Riverfront Center.

According to a media invitation there will be plenty of Newark and Panasonic dignitaries in attendance: Mayor Cory A. Booker, Lt. Governor Kim Guadagno, Panasonic Corporation of North America CEO Joseph M. Taylor, Members of the Newark Municipal Council, Deputy Mayor for Economic and Housing Development Stefan Pryor, among others.

Panasonic announced the search

for a new headquarters right after CES in January and the reported contenders were Atlanta, Brooklyn, N.Y. and Chicago, among others.

According to a report earlier today on

not everyone in New Jersey is happy with the decision. A $102 million state Urban Transit Hub credit was crucial in having Panasonic remain in the state. Secaucus Mayor Michael Gonnelli was quoted by that he doesn't think the credit should "hurt one town to help another town." And Panasonic's Secaucus landlord, Hartz Mountain Industries, is challenging the move.


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