MORRIS PLAINS, NJ - Honeywell Corporation, which is ranked #77 on the Fortune 500 list of the country's largest US based corporations, is moving to North Carolina and when it does it will take 750 local jobs with it.
This is happening less that one year after Governor Phil Murphy included massive business tax hikes in his first budget he presented after becoming Governor in 2018. NJ has often been ranked as the worst in the nation for a business tax climate and is lagging behind the nation in economic recovery.
An anonymous source from the Morris Plains Council has stated that this move blind sighted the current administration. Only a little more than two years ago, Honeywell moved from nearby Morris Township to Morris Plains. Honeywell’s decision to stay in Morris County at that time was largely based on a $40 million tax credit to stay which was offered to Honeywell while Chris Christie was Governor.
Recently, New Jersey also lost out on its bid to lure Amazon's HQ2 to Newark.