The Stockholm-based Electrolux ended production at the location last summer after more than 50 years, an operation that had as many as 1,500 workers at its peak. But the new owner won't be creating nearly that many jobs, according to company officials, who say that the number would be in the vicinity of 200 workers during the first year and ultimately nearly 500 when the building is fully occupied.
The move-in is getting substantial state and local government support, although officials haven't disclosed the extent of that support.
"We will act as a liaison in providing assistance with state programs," according to William Watley, the state's secretary of commerce and head of the New Jersey Commerce and Economic Growth Commission. "The property is prime real estate. Reuse of the facility is a win-win situation for all parties, and the commission will make every effort to see that Victoria Classics has the resources."
Founded 17 years ago by brothers Joseph and Toby Cohen, Victoria Classics sells imported soft home furnishings like linens and wall treatments to such retail chains as JCPenney, Linens 'n Things, Bed Bath & Beyond, Burlington Coat Factory and Target. Based in New York City, the company's current operating facilities in Brooklyn, NY, Newark, Elizabeth and Woodbridge, NJ will be consolidated at its new main W/D center here.
Company officials say they plan to use about two-thirds of the facility immediately, and will seek to find a temporary sub-tenant for the remaining space. Most of the initial 200 or so jobs will be relocated to the site from the existing facilities in Woodbridge and Elizabeth.
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.