Mercedes USA is Moving Headquarters to Atlanta!

Mercedes-Benz, headed by CEO Stephen Cannon, has announced that Mercedes USA is moving headquarters to Atlanta in 2015. Mercedes will be relocating from New Jersey to Atlanta Georgia. Despite numerous tax incentives to remain in New Jersey and concessions by the Garden State, the announcement came earlier this week that Atlanta will be their new home. This news comes on the heels of Governor Christie praising Georgia for “pro-business policies”. After CNBC Financial News named Georgia the top state in the nation to do business with, in a statement on the RGA website, Christie said the recognition proved Georgia’s ambitious vision and pro-business policies have been working and “reinvigorating job creation and new business development.” Christie also said that he expected Georgia to “continue to grow in strength and competitiveness.” Mercedes-Benz has indicated to Fulton County, Ga. that there will be 800 new jobs created with the opening of their new corporate headquarters. The move is expected to be under way by July of 2015 at the latest, and the new center will be on the Northside of Atlanta. Several economists have weighed in on the move, noting that New Jersey’s corporate and individual income taxes both have a top rate of about 9 percent, while Georgia’s corporate and individual income taxes both top out at 6 percent. Georgia also has lower property and sales taxes than New Jersey. Overall, New Jersey’s total tax burden is more than twice Georgia’s, with Garden State taxpayers paying $6,675 per person in 2014, compared with $3,237 in Georgia, according to the Tax Foundation. “Georgia is a much more business-friendly state, where costs are lower across the board,” said James Hughes (a Rutgers economist).