Japanese electronics giant Panasonic could be looking to move its North American headquarters to a new city, with Atlanta reportedly among the candidates.
According to news reports, the company, which makes everything from TVs to batteries to semiconductors, is considering whether to move to Atlanta, Chicago, Newark, Brooklyn, N.Y., or California, or stay at its current headquarters in Secaucus, N.J.
Jim Reilly, a spokesman for Panasonic’s North American operations, confirmed it is “reviewing its facility needs, including a possible new site,” but added Panasonic has no deadline for a decision.
“When a decision is made, we will inform our employees and then make it public,” he said.
Panasonic’s Secaucus headquarters has 800 employees and includes sales, marketing, research and development, testing, and customer service operations, Reilly said.
Metro Atlanta’s most recent big job boost came in 2009 when NCR moved from Dayton, Ohio, to Duluth and brought with it 1,250 jobs.
Atlanta Mayor Kasim Reed was asked about the reports Monday at the Atlanta Press Club. He said the move would be good for the city but offered no indication of whether the reports are true. He said “big announcements” are on the way but it was unclear if he was alluding to Panasonic..
Some suggest Panasonic could be trying to extract better terms from New Jersey.
“It makes me wonder how sincere they are if they have such a disparate group of markets competing for them,” Craig Mendel, an assistant vice president at real estate firm Colliers International in Atlanta, said.
“It’s rare to see so many markets across the United States in the running.”
Atlanta recently fell short in a bid for technology firm Red Hat, which considered a potential headquarters move. But Red Hat decided in early January to stay in Raleigh, N.C., after the state offered incentives worth $18 million..
Georgia State University economist Rajeev Dhawan said when companies consider moving it’s because of problems where they are, whether financial, political or social.
Incentives offered by states or cities can tilt a decision, but housing, cost of living and education are even more relevant, he said.
“If money were the only factor, the Kia plant could have gone to Mississippi,” Dhawan said, referring to the automaker’s new plant in west Georgia.
About the Author
