Ralph Lauren will relocate its Lyndhurst offices to the former Hoffmann La-Roche campus in Nutley, a move that is expected to create more than 200 jobs, officials said Tuesday.
The global fashion brand eyed leaving New Jersey for High Point, North Carolina, but was awarded $33 million in tax credits over 10 years to retain 518 jobs and add a proposed 250 employees to its local workforce, according to documents filed with the state economic development authority.
Nutley Mayor Joseph P. Scarpelli said the move was another sign the ON3 site along Route 3 was a hub of leading design, research and educational organizations. Ralph Lauren will join Quest Diagnostics, Hackensack Meridian School of Medicine at Seton Hall University, and Modern Meadow, which makes animal-free leather.
“It’s great for the township of Nutley,” the mayor said.
Ralph Lauren, which is headquartered in Manhattan, plans to complete the move to the 225,018-square-foot facility at 100 Metro Boulevard by late next year or early 2020. The company sought a new space to accommodate various growing office support functions.
The state Economic Development Authority’s Grow New Jersey Assistance Program credits will only be received once Ralph Lauren meets the commitments of its application, a spokeswoman said.
Tax credits were a key factor in the company’s decision to stay in New Jersey, according to EDA documents.
“The location analysis submitted to the [EDA] shows New Jersey to be the more expensive option and, as a result, the management of Ralph Lauren Corporation has indicated that the grant of tax credits is a material factor in the company’s location decision,” a project summary stated.
Ralph Lauren also offered a $28.58 million capital investment with a $95.52 million net benefit to the state over 20 years, according to state filings.