Transit-Oriented Tax Credits Nudge Company to Relocate

By relocating to a transit-adjacent building in New Jersey, electronics maker Panasonic has qualified for more than $100 million in tax credits from the state.

The move to Newark is a boon for the city, but the state tax credit program is likely an even bigger boon for the company.

"[H]is company is leaving its headquarters in Secaucus, N.J., because there, too many of its employees have to drive to work.

Joe Taylor: We couldn't possibly demonstrate our commitment and our credibility to being a green company, and ask 1,000 people to drive to work every day.

Panasonic will locate within a block of Newark Penn Station, with connections to Amtrak and several commuter rail lines. It also helped that Panasonic reaped more than a hundred-million-dollar Urban Transit Hub Tax Credit. If a big company locates near a transit line, it gets a bundle of goodies from the state."

Full Story: Panasonic reaps benefits of mass transit tax credit

Comments

Build Your Own Paper Block City

Urban Fold is an all-inclusive kit that allows anyone to build the city of their dreams with a few simple folds.
$24.95
building block set

NEW! Build the world you want to see

Irresistible block set for adults when placed on a coffee table or desk, and great fun for kids.
$25
Planetizen Courses image ad

Planetizen Courses

Advance your career with subscription-based online courses tailored to the urban planning professional.
Starting at $16.95 a month
Book cover of Insider's Guide to Careers in Urban Planning

So you want to be a planner...

Check out our behind the scenes look at 25 careers in the Urban Planning field
Starting at $14.95