General Business

Honeywell to Move HQ Out of NJ

Honeywell officially announced today that it will move its global corporate headquarters from Morris Plains to Charlotte, North Carolina, while keeping 1,000 jobs in New Jersey across its six locations here, including 800 at its Morris Plains facility.

Five years ago, the company was granted $40 million in Grow NJ tax credits from the New Jersey Economic Development Authority to keep 1,000 jobs in the state for 10 years.

According to Darius Adamczyk, Honeywell chairman and chief executive officer, “Our decision does not reflect any issues with the quality of our experience in New Jersey. We value the strong relationship that we have built with the state of New Jersey and with Governor Murphy. New Jersey will remain a substantial employment center for us.”

The final decision is subject to the recently passed North Carolina Job Development Investment Grant (JDIG) legislation becoming law and the final award of state and local incentives, which the company expects to be completed early next week.

“Today’s announcement reflects our commitment to locate our corporate headquarters close to our large centers in Charlotte alongside Safety and Productivity Solutions, and Atlanta, where our Honeywell Building Technologies and Honeywell Connected Enterprise businesses are located. Charlotte is a top-10 destination city in the US that will readily enable us to recruit and retain the world-class talent we will need over the long term to support Honeywell’s strategic focus on leading technology and software solutions within our end markets,” Adamczyk said.

Meanwhile, Governor Phil Murphy issues the following statement on the announcement: “As part of Honeywell’s global restructuring, the company has committed to keeping the vast majority of its existing New Jersey workforce in state. Though we’re never happy when any jobs leave our state, we appreciate its continued commitment and confidence in New Jersey. By maintaining such a strong foothold here, Honeywell is reaffirming its commitment to being a part of New Jersey’s future. That speaks volumes to our state’s strength, resilience, and value proposition.”

According to New Jersey Business & Industry Association President and CEO Michele Siekerka, “The fact that Honeywell is maintaining a significant workforce in New Jersey reflects that the movement of its global headquarters is more about its strategy than its desire to leave the state.

“However, we should continue to be mindful of our business climate competitiveness and the fact that other states are looking to attract our job creators.”

As part of the move, about 150 to 200 New Jersey-based senior management positions and about 100 South Carolina-based positions will relocate to Charlotte between now and September 2019.

The company envisions gradually adding about 500 Honeywell corporate and SPS positions to the Charlotte location over the next five years, bringing total employment there to about 750 by the end of 2024. Any corporate roles that will be added in Charlotte will come from multiple locations, not just New Jersey.

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