Technology and supply chain startup Suuchi Inc. said it will set up shop in Kearny rather than Charlotte, N.C., where Morris Plains-based Honeywell International Inc. just announced it will move its global headquarters.
Suuchi is finalizing its lease to occupy space at the 130-acre business center Kearny Point, the governor’s office announced Friday afternoon, a move which will create 410 advanced manufacturing jobs in the state.
The announcement comes hours after Honeywell confirmed it will be moving its global headquarters to Charlotte, citing a more “business-and-family friendly” environment in the city.
“Visionary companies like Suuchi Inc. recognize that New Jersey provides access to an unparalleled pool of skilled, diverse talent, and the distinct logistical advantages of our unmatched location,” Gov. Phil Murphy said in a statement.
The Economic Development Authority, at its September board meeting, approved $37.2 million in tax credits to Suuchi, to be distributed over 10 years, based on whether the company meets certain economic activity and job-creation goals.
“Making New Jersey the State of Innovation is a top priority of Governor Murphy’s economic development strategic plan, and Suuchi Inc.’s business model aligns with this vision,” EDA CEO Tim Sullivan said in a statement.
Seventy-five percent of the employees at Suuchi are women, spanning 27 different nationalities, according to the governor’s office.
“We have experienced great success in New Jersey, and attribute much of our momentum to our ability to recruit savvy and skilled employees from a diverse pool of talent,” Suuchi founder and CEO Suuchi Ramesh said in a statement.