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Honeywell got $40M in tax breaks to stay in N.J. but it’s leaving anyway

Honeywell International, Inc. confirmed Friday it is moving its corporate headquarters from Morris Plains to Charlotte, North Carolina, but that most jobs — at least for now — will remain in New Jersey.

The planned relocation comes just three years after the company received a $40 million tax credit to keep its headquarters in New Jersey, in a deal brokered and heralded by then-Gov. Chris Christie.

Morris Plans Mayor Frank Druetzler told NJ Advance Media the impending move, first reported on Thursday, caught him by surprise.

“This one came out of left field,” said Druetzler, who is ending his 32-year run as mayor at year’s end.

“My preference is that they stay here, but obviously they’re not. We’re going to miss them,” Druetzler said of Honeywell.

The move to Charlotte hinges on a state and local tax incentive plan being approved in North Carolina, which Honeywell said it expected to be completed early next week.

About 150 to 200 New Jersey-based senior management positions and about 100 South Carolina-based positions will relocate to Charlotte between now and September 2019, Honeywell said.

Druetzler said there are about 1,000 Honeywell employees in Morris Plains.

“I am pleased that we have 800 jobs staying here in Morris Plains,” the mayor said.

The company said it plans to gradually move another 500 positions by the end of 2024, with the jobs coming from multiple locations and not just New Jersey.

CONTINUE @ NJ.COM