Fortune 500 firm Sealed Air moving HQ to Charlotte

AP News
Posted: Jul 23, 2014 10:43 AM

CHARLOTTE, N.C. (AP) — Fortune 500 packaging company Sealed Air Corp. will consolidate management operations from several states and relocate its New Jersey headquarters to the Charlotte area, where it plans to employ nearly 1,300 jobs in three years.

A North Carolina committee that approves the state's main tax break to attract businesses on Wednesday approved up to $36 million over 12 years if the company meets job and investment targets. The Elmwood Park, New Jersey-based company also will receive at least $5 million more in incentives from state and local governments.

Sealed Air was expected to announce the move with North Carolina officials later Wednesday in Charlotte. Sealed Air spokesman Ken Aurichio said the company would answer questions after an announcement later Wednesday.

The maker of Bubble Wrap protective cushioning, food packaging and cleaning products will consolidate some operations from Connecticut, Wisconsin, Massachusetts and New Jersey into a new headquarters complex in the Charlotte area costing more than $50 million, North Carolina Commerce Department spokeswoman Kim Genardo said. Genardo said a site hasn't been determined.

The company had narrowed its search to Greenville, South Carolina, and Charlotte before selecting its new headquarters, Genardo said.

Sealed Air employs about 25,000 people in 175 countries.