North Carolina Economic Development Guide

2016

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29 North Carolina Economic Development Guide J erome Peribere knew what his company needed in a new hometown. It had to have a trained workforce. "Quality of life for our employees and families was a top priority in our decision. Among the factors we considered were climate, cost of living, schools, arts and culture, and transportation." Sealed Air Corp. was headquartered in Elmwood Park, N.J., in March 2013, when Peribere was named its CEO. The New York Stock Exchange-traded company, well known for its Bubble Wrap package protection and Cryovac food wrap, started there in 1960. It grew to 25,000 employees and posted $7.8 billion in 2014 revenue. But its success and history in a city that claims college basketball announcer Dick Vitale as a native son and is 10 miles from New York City wasn't enough. Peribere announced the company was moving to Charlotte in July 2014. It marks the largest Fortune 500 headquarters relocation in Charlotte's history. Sealed Air broke ground on a $58 million campus in June 2015 while 400 of its employees worked in temporary space nearby. "We expect to have employees begin working in our new of ce by the end of 2016," Peribere says. North Carolina offers those benefi ts. Sealed Air Corp. took advantage of those attributes in Charlotte, where it's investing $58 million in a headquarters that opens this year. Solution: Companies don't put their headquarters anywhere. They require transportation, talent and low costs. Challenge: Six Fortune 500 companies are headquartered in the Charlotte region. Six more call North Carolina home. Charlotte Ch h C Ch C

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