PARK RIDGE, NJ-Hertz will relocate its headquarters to Florida, in what the Florda governor is calling a "major victory for our state." A Hertz spokesman said the main reason Nee Jersey was bypassed as a home for its new headquarters is that it would be too expensive for employees relocating from Tulsa, OK.
Hertz acquired its onetime rival, Tulsa-based Dollar Thrifty, last fall.
Hertz's Richard Broome told the Star-Ledger that, "New Jersey has been a great partner, and will continue to be, but ultimately there was a compelling rationale for us to consolidate our Tulsa and Park Ridge headquarters in Florida."
Gov. Rick Scott had told The News-Press of Fort Myers that Hertz picked Lee County simply because it is a great place to do business.
In his statements, it was not made clear that the county and state are promising Hertz $16.8 million in economic stimulus money, plus tax credits over 20 years of $68 million.
New Jersey's lieutenant governor, Kim Guadagno, said Tuesday that she only heard about the deal after it was done - and that New Jersey could have provided a far more lucrative package.
Hertz will build a $50 million headquarters headquarters in Estero, FL, and import at least 700 jobs from New Jersey. paying an average $102,000 a year.
The company said in an announcement that the move will result in cost-cutting as it consolidates offices following its acquistion last fall of Tulsa-based Dollar Thrifty. Also, Florida is a key travel hub, Hertz noted in a release.
About 2,000 Hertz and Dollar Thrifty workers will remain in the Garden State, about 150 of them at the current Hertz headquarters in Park Ridge.
The rest of the Park Ridge employees are promised they can keep the same jobs at the new 300,000-square-foot headquarters in Florida. The building will be situated on a 34-acre site which Hertz has an option to buy.
Hertz Global Holdings Group Inc. completed acquisition of Dollar Thrifty Automotive Group last November. In April, the company announced it will buy a 20% stake in Beijing-based China Auto Rental Holdings.
Hertz was was founded in 1918, and has had its headquarters in New Jersey since 1988.
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