CAMDEN, NJ- Towards the end of September, GlobeSt.com took a look at the Garden State’s most recent unemployment figures – and the picture wasn’t particularly pretty. New Jersey reporter Antoinette Martin spoke with Cushman & Wakefield’s Gualberto “Gil” Medina, who described the state of things as “unfortunate.” And “unfortunate” is likely the way such things will remain, especially in light of the recent closures to two state businesses.
First off, Campbell made the decision to close its New Jersey spice plant in South Plainfield here. According to a release from the company, the facility will shut its doors by March, 2013. Currently, it employs 27 indviduals and has been open since 1964. The company says that it wanted to consolidate its spice production at the larger Milwaukee plant.
Campbell’s North American president Mark Alexander described this as “difficult news” for employees in New Jersey and those at another plant in Sacramento, also set to close.
But here, more jobs are set to be lost in Edison. The Wall Street Journal reported that the Exxon Mobil plant located there will be closing by 2014. It employs 100 workers and has been open since 1949, according to the newspaper.
Both job losses aren’t massive, but this still indicates industries are leaving the state and more people are, yet again, out of work. What are your thoughts on these developments? What do they mean for the Garden State?
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
