IncSmart New Jersey (Small Business and Startups) -
New Jersey scrambles for Mars Candy jobs. The candy company is considering moving over 200 jobs from Chicago to Newark. This move will also consolidate the two existing locations already in New Jersey. Mars Wrigley has also promised to invest $42 million in a leased Newark location and is considering an additional $52 million in a company owned building in Hacketstown. Mars currently has more than 2,400 employees, five factories, and five corporate locations in Illinois. The chocolate and a gum empire makes products such as M&Ms, Snickers, Juicy Fruit and Life Savers.
The New Jersey Economic Development Authority (NJEDA) is the government organization offering the incentives. New Jersey is offering $32.7 million in tax incentives. The New Jersey Economic Development Authority approved the incentives for the Illinois company. The New Jersey 10-year incentive package will come with a $50,000 per employee offer. The unemployment rate in Newark is 7.5%, compared to 4.8% unemployment rate for New Jersey.
By IncSmart Staff Writer
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