Hartz sues EDA over Panasonic relocation

Hartz Mountain Industries has sued the New Jersey Economic Development Authority in Superior Court over that agency’s approval of $102 million in Urban Transit Hub tax credits to Panasonic.

Hartz, which is based in Secaucus, stated that its appeal alleges that EDA’s process has allowed Panasonic to leave a Hartz building and move to an office building being developed in Newark.

In its filing, Hartz said that no new jobs will be generated as a result of the relocation, but jobs could be lost in Secaucus, and that EDA acted outside its scope of authority.

“Under EDA’s policy — which is not supported by the law — Panasonic did not even certify they will leave the state, but for the grant,” Senior Vice President Allen Magrini said  in a release. “It is entirely possible that the state of New Jersey will pay $102 million to keep a company here that never intended to leave, which deprives the state’s taxpayers of $102 million to attract or create new business activity to New Jersey.”

Panasonic could not be reached Thursday afternoon for comment.

Hartz sues EDA over Panasonic relocation