Moves by Broadridge, and maybe Mars, could be sweet for Newark

Wednesday, 15 November 2017, 04:24:31 AM. On the same day Mars said it might come back, Mayor Ras Baraka welcomed 1,100 employees of Broadridge Financial Solutions to their new location at 2 Gateway Center
NEWARK -- Move over, Amazon. You may not be the only buzz-worthy new HQ thinking of coming to town. Mars Wrigley Confectionery -- the candy company responsible for sweet treats like M&M's, Milky Ways, and Snickers -- is applying for a $31 million grant from the state's Economic Development Authority to open a corporate center in Newark. The request appeared on an EDA agenda set for discussion at a meeting Tuesday. Inside the M&M's plant in Hackettstown If word of Mars' possible return to Brick City weren't sweet enough for Newark officials, Mayor Ras Baraka welcomed Broadridge Financial Solutions CEO Tim Gokey and 1,100 of his employees during a ribbon cutting Monday in the company's new 160,000-square-foot space at 2 Gateway Center. After Gateway's owner, C&K Properties, announced the move in March, last month Broadridge relocated the 1,100 workers from space in Jersey City's Journal Square neighborhood. Apart from occupying a hefty chunk of one of Newark's biggest office complexes and generating work for restaurants, dry cleaners, cabbies and other local businesses, Broadridge's work force will mean more than a million dollars a year in city revenues under Newark's 1-percent payroll tax, city and company officials said.  Matt Connor, Broadridge's chief financial officer, said Newark employees' salaries average around $100,000 a year, which puts the company's annual Newark payroll at $110,000,000, with the city's annual share of that coming to $1.1 million. That's $16.5...Read more
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