Business

Mercedes Moving Headquarters from New Jersey to Atlanta

Published

11 years ago

January 7, 2015

GEOFF MULVIHILL, Associated Press
KATHLEEN FOODY, Associated Press

German luxury automobile maker Mercedes-Benz said Tuesday that it’s moving its U.S. headquarters from New Jersey to Atlanta, in part to be closer to its manufacturing facility in Alabama.

Georgia Gov. Nathan Deal said the company accepted an incentive package from the state but said he couldn’t discuss the details yet. The Fulton County Development Authority met briefly Tuesday to discuss its own incentive package for Mercedes’ estimated $93 million facility but provided no details.

The decision comes after weeks of lobbying — some of it public — by New Jersey officials who sought to keep the company in Montvale, at a campus that’s about a five-minute drive from BMW’s North American headquarters.

About 1,000 jobs are to be moved starting in July. The company said it will move first to a temporary facility in Atlanta before moving into a new space in about two years. Deal and Georgia economic development officials would not discuss the location Mercedes is pursuing in metro Atlanta. Mercedes said it would announce more details later this month

Mercedes-Benz USA President and CEO Stephen Cannon said in a statement that the company will benefit by being closer to its growing base of customers in the Southeast as well as its port in Brunswick, Georgia, and its manufacturing facility in Alabama.

Cannon praised New Jersey and the company said some operational areas will remain in Montvale and Robbinsville

“The state has worked tirelessly with us as we evaluated our options,” he said in a statement. “Ultimately, though, it became apparent that to achieve the sustained, profitable growth and efficiencies we require for the decades ahead, our headquarters would have to be located elsewhere.”

He also said the quality of life, schools and cultural options in Atlanta were reasons to move there.

Other recent Georgia projects in the automotive industry include the construction of a new U.S. headquarters for Porsche near Hartsfield-Jackson Airport and Kia’s first U.S. manufacturing facility about 75 miles southwest of Atlanta. Executives have cited access to the world’s busiest airport for employee travel and to the state’s ports for shipping.

Deal credited the state’s access to that infrastructure and an insistence on cooperation between economic development, utility and education officials for the results.

Deal said the most memorable portion of the state’s pursuit was being told that the automaker was seriously considering Georgia for its U.S. headquarters. Deal said Mercedes-Benz approached Georgia officials several months ago.

“The prestige associated with that name is exciting to me,” Deal said.

New Jersey Gov. Chris Christie had a series of meetings and calls with Cannon to try to keep the company in New Jersey, said Michael Drewniak, a spokesman for the governor.

“In each conversation Mercedes USA made one thing very clear about its decision to leave: The cost of doing business and the tax environment is just too high here to be competitive with a state like Georgia,” he said.

That reinforces Christie’s “repeated calls to lower taxes and change the business climate,” Drewniak said.

New Jersey promised more than $2 billion in future tax breaks to companies moving to or remaining in the state, more than it promised from 1996 through 2009 combined, and could have offered Mercedes-Benz up to $15 million to stay just from one incentive aimed at car companies’ U.S. headquarters.

Under New Jersey’s incentives last year, Subaru of America agreed to stay in New Jersey, and the Philadelphia 76ers announced plans to move their offices and practice facility to Camden, New Jersey, while continuing to play in Philadelphia, a short drive away.

But the state has lost some major businesses to the South: Car rental giant The Hertz Corp. is moving to Estero, Florida, with the help of $85 million in tax breaks, and Bubble Wrap maker Sealed Air Corp. is moving to Charlotte, North Carolina, with the aid of $35 million in breaks.

___

Mulvihill reported from Haddonfield, New Jersey, and Foody reported from Atlanta.

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Financial Wellness and Mental Health: Managing Money Stress in College 

While everyone’s financial situation is unique, several common sources of stress have the potential to strain your financial health. These include financial and economic uncertainty, existing debts, unexpected expenses, and mental or physical health changes. Financial stress may differ from situation to situation, but understanding the factors contributing to yours may help you begin to craft a plan for your unique circumstances.

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3 weeks ago

March 17, 2026

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Sponsored by JPMorganChase

As a college student, managing financial responsibilities can be stressful.

If you’ve found yourself staying up late thinking about your finances or just feeling anxious overall about your financial future, you’re not alone. In one survey, 78% of college students who reported financial stress had negative impacts on their mental health, and 59% considered dropping out. While finances can impact overall stress, taking steps to manage your finances can support your mental, emotional and physical well-being.

When it comes to money, the sources of stress may look different for each student, but identifying the underlying causes and setting goals accordingly may help you feel more confident about your financial future.

Consider these strategies to help improve your financial wellness and reduce stress.

Understand what causes financial stress

2. Determine your financial priorities

Start by reflecting on your financial priorities. For students this often includes paying for school or paying off student loans, studying abroad, saving for spring break, building an emergency fund, paying down credit card debt or buying a car. Name the milestones that are most important to you, and plan accordingly.

3. Create a plan and stick to it

While setting actionable goals starts you on the journey to better financial health, it’s essential to craft a plan to follow through. Identifying and committing to a savings plan may give you a greater sense of control over your finances, which may help reduce your stress. Creating and sticking to a budget allows you to better track where your money is going so you may spend less and save more.

4. Pay down debt

Many students have some form of debt and want to make progress toward reducing their debt obligations. One option is the debt avalanche method, which focuses on paying off your debt with the highest interest rate first, then moving on to the debt with the next-highest interest rate. Another is the debt snowball method, which builds momentum by paying off your smallest debt balance, and then working your way up to the largest amounts.

5. Build your financial resilience

Some financial stress may be inevitable, but building financial resilience may allow you to overcome obstacles more easily. The more you learn about managing your money, for instance, the more prepared you’ll feel if the unexpected happens. Growing your emergency savings also may increase resilience since you’ll be more financially prepared to cover unexpected expenses or pay your living expenses.

6. Seek help and support

Many colleges have resources to help students experiencing financial stress, like financial literacy courses or funds that provide some assistance for students in need. Talk to your admissions counselor or advisor about your concerns, and they can direct you to sources of support. Your school’s counseling center can also be a great resource for mental health assistance if you’re struggling with financial stress.

The bottom line

Financial stress can affect college students’ health and wellbeing, but it doesn’t have to derail your dreams. Setting smart financial goals and developing simple plans to achieve them may help ease your stress. Revisit and adjust your plan as needed to ensure it continues to work for you, and seek additional support on campus as needed to help keep you on track.

 JPMorgan Chase Bank, N.A. Member FDIC