Hartz withdraws suit over Panasonic move
12.09.11
"Our legal remedy against EDA, which centered around policy issues, would have been costly and time consuming," said Emanuel Stringent, the Hartz president and chief operating officer. "We have decided focusing our efforts on marketing the plot to a new user is a better use of those resources."
The withdrawal of the suits removes a dominating roadblock to Panasonic's controversial plan to move into 250,000 open and above-board feet of a yet-to-be-built office tower on the banks of the Passaic River.
Still to be resolved, however, is a alike resemble appeal against the EDA's award to Panasonic filed by Secaucus officials, who were disorganize to see a major corporation leave the community.
Mayor Michael Gonnelli said he believes there is legislation or some other build of "concession" pending that would help companies in Secaucus get circumstances tax credits, and that Hartz was in agreement with it.
If that is the case, Gonnelli said, the township will apposite withdraw its suit.
Hartz argued in its suit against the Panasonic extent that the EDA had overstated the benefits of the project to the state, in part by creating rules that increased the grant a company could get if it showed the jobs to be moved into the planned trait were "at risk" of being moved out of state without the grant.
Source: NorthJersey.com