(The following is a reformatted version of a press release
issued by the Office of the Governor of New Jersey and received
via electronic mail. The release was confirmed by the sender.)
Lt. Governor Kim Guadagno Announces Retention of Ashland Inc. Commercial Unit
in New Jersey
Cooperative Effort by State and Company Officials Successfully Retains
Approximately 300 Jobs in New Jersey
Trenton, NJ – Signaling that access to skilled and highly educated workers is
critical to its business operations, Ashland Inc. has decided to keep an
important component of its operations in New Jersey, Lt. Governor Kim Guadagno
The New Jersey Partnership for Action, which includes the New Jersey Business
Action Center, New Jersey Economic Development Authority, and Choose New
Jersey, immediately intervened when it learned the company was considering
other locations for the New Jersey-based portion of its Ashland Specialty
“Nowhere in America is there greater access to highly skilled and educated
workers - the very workers critical to the success of technology and science
companies - than right here in New Jersey,” said Lt. Governor Guadagno. “After
considering all its options, Ashland’s decision to remain in New Jersey further
demonstrates that New Jersey is the ideal location for its business.”
The company will relocate its New Jersey-based operations from Wayne into
nearly 200,000 square feet of new laboratory and office space in Bridgewater.
The company plans to relocate more than half of its current more than 300
person staff from its existing Wayne campus to Bridgewater in the second half
of 2013. Ashland intends to sign a short-term lease for an additional
administrative office facility in northern New Jersey that would house the
remaining 40% of its employees.
After a thorough relocation search, including potential sites out-of-state,
Ashland found that remaining in New Jersey provided an excellent choice for the
portion of the business based in New Jersey.
“We appreciate the tremendous support shown by Lt. Governor Guadagno and the
Administration as we evaluated potential sites for the relocation,” said John
Panichella, president of Ashland Specialty Ingredients. “The state of New
Jersey has demonstrated its sincere commitment to working with Ashland as we
pursue growth opportunities within our Specialty Ingredients business.”
Ashland Specialty Ingredients, a commercial unit of Ashland Inc. (NYSE: ASH)
develops and manufactures chemicals for consumer and commercial products.
The New Jersey Partnership for Action supports the vital role business plays in
advancing the state’s economy and creating jobs. Led by Lt. Governor Kim
Guadagno, the PFA is a three-pronged public-private approach to economic
development and the starting point for all initiatives, policies, and efforts
to grow New Jersey’s economy and create quality, sustainable jobs in our
communities. The three elements of the PFA include the Business Action Center,
reporting directly to the Lt. Governor and providing the business community
with a single point of contact, applying a proactive, customer-service approach
to businesses’ interactions with State government; the New Jersey Economic
Development Authority, serving as the state’s bank; and Choose New Jersey, a
privately funded marketing, business attraction and lead generation
organization that markets the state as an ideal location.
Businesses considering a move or in need of assistance are encouraged to call
New Jersey’s Business Action Center at (866) 534-7789
<tel:%28866%29%20534-7789> or visit the State’s Business Portal at
www.newjerseybusiness.gov <http://www.newjerseybusiness.gov/> .
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