NEW YORK (CBSNewYork/AP) — Forbes magazine is leaving its historic Greenwich Village headquarters and moving hundreds of employees to New Jersey.
Forbes Media, which publishes the magazine, announced Wednesday that it has secured office space in the Newport area of Jersey City. Forbes plans to relocate about 350 employees to Jersey City later this year. The exact date has not been determined.
The move comes after New Jersey’s Economic Development Agency approved a $27.1 million incentive over 10 years for Forbes.
Forbes sold its building at Fifth Avenue and 12th Street to New York University in 2010 but kept a five-year lease on the property it occupied since 1962.
“The New Jersey venue will give us the opportunity to create a state-of-the-art media center,” CEO Mike Perlis said in a memo to staffers, according to the New York Post.
Forbes will keep an office in New York. The company says it’s in the final stages of securing space in the city.
You May Also Be Interested In These Stories
- New Hampshire Voters Take To The Polls In First-In-Nation Primary
- Jury Begins Deliberating In Manslaughter Trial Of NYPD Officer Peter Liang
- Police: 2nd Teen Arrested Over Knockout Video Recording Of Elderly Man
- Black History Month: Building The Collection For The National Museum Of African American History & Culture
(TM and © Copyright 2014 CBS Radio Inc. and its relevant subsidiaries. CBS RADIO and EYE Logo TM and Copyright 2014 CBS Broadcasting Inc. Used under license. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. The Associated Press contributed to this report.)