Tuesday, December 1, 2009

North Jersey corporate costs fifth highest

From The Record

Corporate executives looking to cut costs in the wake of the recession are more likely than ever to flee or avoid New Jersey, according to Princeton firm that specializes in helping companies relocate.

The Boyd Co. Inc. on Monday released a study that found North Jersey is the fifth most expensive place to site a corporate headquarters, costing $27.9 million a year to operate.

New York City topped the list, followed by San Francisco, Stamford, Conn. and San Jose, Calif.

John Boyd Jr., a company vice president, who compiled the report, said New Jersey’s high costs have deterred companies from expanding in the state for years. But the recession has significantly heightened the competition between states, to the detriment of those with a high cost of doing business, he said.

“The corporate headquarters arena is the next big frontier for corporate cost cutting,” said Boyd. “And that’s big news for New Jersey.”


  1. Check this out. Talk about wasteful spending:

  2. From the story:

    "“We have also found out labor forces are highly mobile,” [James Hughes, a Rutgers University economist] said. “People from the Northeast were willing to go to Charlotte in North Carolina because of the economic opportunity there and much lower housing costs.”

  3. Hey Citizen,
    I just found something that surprised me quite a bit. New Jersey overall has the 13th best crime rate in country. I figured it would be quite high considering Jersey's also got one of the highest percentage of urban populations (I mean that as in the actual definition of urban and not racial, just for the record). The states that beat out NJ were NH, SD, ND, VT, ME, WV, NY, PA, KY, VA, CT, and MA. Most of those states have incredibly low urban populations so the fact that NJ and NY are that high is impressive.

    I just figure it's good to know that are a FEW good things about Jersey once you get past the corruption, high taxes, constantly dwindling business climate...

  4. I am glad to inform all of you I will be leaving New Jersey next week for good. I hate this state. When I come to power I will sell it over to Cuba. Or pass a stimulus to rebuild this place. Thank God I am otut of here.I would have gone crazy!

  5. Great post with lots of really good information!

    Boyd Coddington Wheels