Georgia Giving Mercedes-Benz $23M in Incentives

ATLANTA—Automaker Mercedes-Benz had at least 23 million reasons why it decided to move here from New Jersey.

Christopher M, Carr, commissioner of the Georgia state economic development agency, in a Dec. 12th offer letter stated that Mercedes-Benz would receive an estimated $23,312,500 in tax exemptions, waivers and credits for moving 800 jobs to suburban Atlanta from its current headquarters in Montvale, NJ.

Georgia is offering more than $17 million in five-year tax credits for each new job delivered, along with a 10-year abatement on local property taxes. Other incentives include a reduction on taxes for construction costs, tuition waivers, and $6 million for a project development grant to build the new headquarters, according to NJ.com.

New Jersey Gov. Chris Christie expressed disappointment with Mercedes-Benz's decision to leave the Garden State in his State of the State message on Tuesday. "Mercedes, in New Jersey since the early 1970's, is leaving for a very simple reason—it costs less to do business in Georgia than it does in New Jersey," Christie said. "Don't take my word for it—the leaders of Mercedes said it themselves. Economic incentive laws help—but lower taxes are better. We will not win the fight to keep and create good paying jobs for our middle class families in New Jersey unless we lower taxes." See story at NJ.com.