NJBIA Statement on Closure of ExxonMobil Facility in Clinton
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| NJBIA Deputy Chief of Government Affairs Officer Ray Cantor issued the following statement regarding ExxonMobil’s decision to consolidate its operations to its Houston headquarters, resulting in the closure of its campus in Clinton, New Jersey.
“Today’s announcement should serve as a reminder as to why New Jersey needs to greatly improve its business climate and to be more competitive with other states.
“With this consolidation, New Jersey is effectively losing hundreds of good-paying, high-educated jobs at a facility that was on the cutting edge of clean energy technologies. In short, it’s a blow to the innovation economy that New Jersey strives to achieve.
“While there is no known link to this New Jersey closure and corporate taxes, it is also a reminder that having the highest corporate tax rate in the nation, as currently proposed by Gov. Phil Murphy, does not help our competitiveness as corporate consolidation, expansion and relocation decisions are made every day.” |
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