Governor Christie salutes Panasonic`s commitment to remain in the State of New Jersey

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.

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.