Rubbermaid on the waterfront: EDA okays $27M incentive for Newell Brands to create Hoboken HQ

HOBOKEN – Newell Brands has announced plans to consolidate a number of its entities at a 99,975-square-foot global headquarters in Hoboken after the state Economic Development Authority voted Friday to approve a 10-year, $27 million Grow New Jersey award for the company, according to reports in NJBIZ.com and northjersey.com.
“It is an exciting time at Newell Brands,” a spokesperson from the global manufacturer of consumer products said in a prepared statement. “The recent combination with Newell Rubbermaid and Jarden Corporation formed a new, $16 billion consumer goods company, and our new headquarters reflects our commitment to investing in the future growth of the new company.”
The new global headquarters will open at the Waterfront Corporate Center II on River Street in Hoboken in the fall. It will serve as a hub for the new executive team and will include a design center. The company said it chose Hoboken because it offered “access to an expanded talent pool.”
“In addition to serving as a hub for (our) executive team and certain corporate functions, the new facility will also include an additional design hub, and will enable us to grow both our design and e-commerce teams with access to an expanded talent pool. We are confident that our Hoboken facility will foster greater collaboration among these key teams and drive future growth.”
Before Newell’s announcement, the EDA had estimated that the project would bring 300 new full-time jobs to the state and yield a net benefit of $65.6 million over a 20-year period.
The company’s products include a wide range of brands, including Paper Mate, Elmer’s, Graco baby products, Mr. Coffee, Crock-Pot, Oster and Sunbeam kitchen appliances, Coleman outdoor products, Yankee Candle, First Alert, Ball Mason jars, Calphalon cookware, Goody hair products and Rubbermaid containers
In other action, the report said Quest Diagnostics International, a Madison-based provider of diagnostic information services, was approved for a 10-year, $18.5 million Grow New Jersey award to relocate 595 in-state employees to a 130,000-square-foot site in Secaucus, as opposed to Tampa, Florida.
If the company chooses to stay in New Jersey, it will also look to consolidate employees from a support services facility in Lyndhurst. The state estimates that the project would yield a net benefit of $228.3 million over 20 years.