The Sour Truth: Mars Wrigley Abandons Newark HQ as New Jersey’s Corporate Exodus Spikes
the staff of the Ridgewood blog
Newark NJ, The corporate landscape in New Jersey just lost a massive piece of its sweetness. Mars Wrigley, the global confectionery powerhouse behind iconic brands like M&M’s, Snickers, Twix, Milky Way, and Skittles, has officially announced it is leaving its Newark headquarters. The candy titan filed a formal WARN notice indicating it will eliminate 307 local jobs by mid-October, shifting operations following a massive $100 million expansion of its Chicago headquarters.
The departure marks a growing, alarming trend of household-name employers abandoning the Garden State for more business-friendly climates.
A Disturbing Trend: Over 9,700 Jobs Lost This Year
The exit of Mars Wrigley isn’t an isolated incident. New Jersey has bled more than 9,700 jobs through state WARN notices this year alone.
The state’s major losses include:
-
Samsung: Announced the relocation of its U.S. corporate headquarters from Englewood Cliffs to Texas.
-
ExxonMobil: Shareholders recently voted to move their official corporate home to Texas, ending a 144-year legal incorporation in New Jersey that dated all the way back to Standard Oil in 1882.
Adding fuel to the fire, New Jersey was recently ranked dead last (50th) in the United States for business friendliness in CNBC’s annual Top States for Business rankings.
“An Unfortunate Exodus”: Business Leaders Demand Reform
Michele Siekerka, President and CEO of the New Jersey Business & Industry Association (NJBIA), expressed severe concern over the state’s aggressive anti-business policies.
“On a summer Friday when people should be getting excited about the weekend ahead, we are instead hit with the news of another unfortunate exodus of a job creator in New Jersey,” Siekerka warned. “We are really at a manic state right now of just pushing on our businesses and taking advantage of our job creators to the point they’re not going to stay here and grow.”
The Root Cause: Taxes, Regulations, and Restrictive Policies
Business advocates point directly to the state’s legislative environment as the catalyst driving companies away. A trifecta of recent policy decisions has severely impacted corporate confidence:
-
The Corporate Transit Fee: Implemented under former Governor Phil Murphy just as corporate surtaxes were scheduled to sunset.
-
The ABC Test Overhaul: Enforced by Governor Mikie Sherrill, making it nearly impossible for companies to utilize independent contractors.
-
The Medicaid Employer Penalty: A controversial new tax included in the FY27 budget that penalizes companies or nonprofits with 50 or more workers who rely on Medicaid coverage.
While business leaders have lauded Governor Sherrill’s “Save You Time and Money” permitting reforms, Siekerka notes that streamlining paperwork means very little if corporations refuse to stay. “If nobody’s going to put shovels here, then we’re not going to need expedited permits,” Siekerka summarized.
Tell your story #TheRidgewoodblog , #Indpendentnews, #information, #advertise, #guestpost, #affiliatemarketing,#NorthJersey, #NJ , #News, #localnews, #bergencounty, #sponsoredpost, #SponsoredContent, #contentplacement , #linkplacement, Email: [email protected]
#NewJerseyBusiness #CorporateExodus #MarsWrigley #NJNews #Economy #JobLosses #NJPolitics #BusinessClimate
NJ Democratic Party is so shortsighted they don’t consider the consequences of anti business taxes