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Sealed Air got away without taking a meeting with the EDA

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When it came to keeping Sealed Air Corp., New Jersey never even got the chance.

In deciding last week to move its global headquarters from Elmwood Park to North Carolina, the Fortune 500 company never approached the state Economic Development Authority at any point in its relocation process to discuss its options in the Garden State.

Instead, the maker of Bubble Wrap and other packaging said it will shift as many as 1,300 jobs from six facilities to Charlotte. Jobs will be moved from Elmwood Park, Saddle Brook and sites in Connecticut, Wisconsin and South Carolina within three years.

About 200 of the jobs would come from the New Jersey facilities.

“We are disappointed to hear that Sealed Air has decided to relocate their operations to North Carolina,” EDA spokeswoman Erin Gold said. “However, as they never came to us to discuss incentives, we had no opportunity to compete for them to stay.”

Gold added that the EDA is “happy to see” that the company plans to maintain manufacturing in its Saddle Brook facility, as well as in South Carolina. The company said about 100 jobs would remain in Saddle Brook.

Sealed Air spokesman Ken Aurichio said that the company looked at five undisclosed states for possible relocation sites, but declined to comment on whether New Jersey was considered, or at least among the five.

According to the Associated Press, North Carolina’s committee that approves tax breaks to attract business approved up to $36 million over 12 years for Sealed Air if it meets job and investment goals. It will also receive as much as $5 million more from state and local government incentives, the AP reported.

Aurichio said the company’s executive team considered a wide range of factors — based on both business and quality of life — in choosing its relocation site.

“In the end, it was just determined that Charlotte gave us the business-friendly environment as well as a good place for our employees to raise their families,” he said.
The driving force behind leaving Elmwood Park, Aurichio said, was a desire to “find a location where we could bring all of our divisions under one roof.”

The move will occur in phases over a three-year period, Aurichio said: “We’re going to try and get it done by the end of 2016.”

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Andrew George

Andrew George

Andrew George covers the Statehouse from NJBIZ's Trenton bureau. Born and raised in N.J., Andrew has also spent time as a reporter in D.C., Texas and Pa. His email is andrewg@njbiz.com and he is @AndrGeorge on Twitter.

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Comments


Kem Balani said:
It's as simple as 4 minus 4 = 0
NJ offers the following:
1. Highest property taxes in the nation
2. One of the highest income taxes in the nation
3. Almost dead-bottom ranking in survey after survey among business people annually
4. Constant bickering in the NJ assembly so nothing gets done to KEEP businesses from FLEEING NJ !

Attack these problems head on and NJ can prosper.

August 4, 2014 5:38 pm

mrdirt said:
The decision to move was made months ago. Did GM, Ford, Delco, Frigidaire, Revlon, Merck, Novartis, Pfzeretc go to EDA meeting? if they did it didn't make a difference

July 31, 2014 4:10 pm



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