WOODCLIFF LAKE—The Borough on Oct. 20 announced that Party City Holdings Inc., “the global celebrations leader,” will move its new U.S. headquarters here, to the empty ESAI building, 100 Tice Boulevard, in the second half of 2022.
Party City Holdings Inc. has been approved for the first award under the Emerge Program, New Jersey’s new job creation incentive program, part of the New Jersey Economic Recovery Act of 2020 (ERA).
The award was approved on Sept. 21 by the New Jersey Economic Development Authority (NJEDA) Board. The company also was considering White Plains, N.Y.
“Our residents take great pride in building a strong sense of community and Party City is going to be a wonderful addition to our town,” said Mayor Carlos Rendo in a press statement. “Party City is a company that cares about their employees and the communities they serve, and that’s just the type of corporate neighbor Woodcliff Lake wants to attract. We look forward to a long and mutually beneficial partnership for years to come.”
Brad Weston, president and CEO at Party City Holdings Inc. said, “We’re excited to bring Party City Holdings Inc. to Woodcliff Lake. It’s essential that we provide our team with the right working environment, and that extends beyond the office walls. We anticipate the convenient location, inspiring environment, and our hybrid approach will support a modern way of working and enable us to continue to attract and retain exceptional talent.”
He added, “We look forward to formally celebrating our new home in New Jersey in the future.”
And Bergen County Executive James Tedesco III said he is thrilled to welcome Party City and its employees to Bergen County.
“Party City joins an ever growing and distinguished list of companies that understands the exceptional value Bergen County offers from our quality of life to our highly educated and skilled workforce. My economic development team will continue to work with our municipal and state partners to help Party City fill quality jobs and get the services they need to be successful here. Thank you for choosing to become part of our Bergen County family,” he said.
According to NJEDA CEO Tim Sullivan, “Gov. Murphy’s vision for a stronger, fairer New Jersey economy is rooted in creating family-sustaining jobs. The NJEDA is proud to support Party City bringing hundreds of jobs to Woodcliff Lake. This project is a strong example of sustainable, equitable economic growth the Emerge Program will drive throughout New Jersey.”
The release said Party City Holdings Inc. joins BMW North America, PDI, McLaren Engineering, and other leading companies with headquarters in Woodcliff Lake. Party City’s new headquarters are within walking distance to the Woodcliff Lake Hilton, Tice’s Corner, public transportation, and a new Whole Foods set to open in early 2022.
Towns made their best pitch
We reported on Aug. 28 that Party City was considering Woodcliff Lake for its new U.S. headquarters.
According to Rendo at the Aug. 16 meeting of the governing body, and the next day on Facebook, “This is an opportunity to create approximately 300 to 400 jobs with an average salary in the mid-$90,000 range.”
Rendo said the company’s planned capital investment is $25 million to $30 million and that the total job count here “will be upwards of 700.”
The Borough Council passed a resolution in support.
Party City Holdings Inc. is a publicly traded retail chain of party stores founded in 1986 by Steve Mandell in East Hanover. Based in Elmsford, N.Y., the company is the largest retailer of party goods in the United States, Canada, and Mexico, operating more than 900 company-owned and franchise outlets under the Party City, Halloween City, Toy City, and Factory Card & Party Outlet brands.
Rendo said that of the anticipated jobs approximately 150 will be new, created over a three-year period. The others would be consolidated from from New York City and the Garden State.
According to Rendo, Party City applied with the State Department of Economic Development under the Emerge New Jersey tax incentive program. “Under this program, the company will receive significant state tax benefits.”
He said “The positive for Woodcliff Lake is that the company must make capital contributions to the borough over time.”
He said that as required by Emerge New Jersey he named a committee to coordinate and manage the capital investment.
“Keep in mind that New Jersey is competing with White Plains, N.Y. for the relocation of the company. The location decision will come down to which state provides the best incentives package to the company,” Rendo said.
Rendo said of the council’s resolution of support, “This will be a home run for the borough.”
The Emerge Program, created under the Economic Recovery Act (ERA) of 2020, “encourages economic development in Governor Murphy’s priority sectors and in targeted communities across the New Jersey. The program provides per-job tax credits to projects that invest private capital into the state and create new good-paying jobs (or retain a large number of good-paying jobs).”
Montvale Mayor Michael Ghassali, who has been working to attract international businesses to his borough, posted, “Mayor, this will be a win-win for the region and for jobs creation. It’s also good for Montvale because it will stimulate our small businesses. We will also pass a resolution in support of their move to WCL.”
Indeed, on Sept. 14, Montvale’s council passed that resolution.
There are two Party City outlets in Paramus and one in Nanuet, N.Y. On its corporate website, it says, “With hundreds of stores filled with thousands of products across the United States, you’re sure to find the perfect costume, party theme, or inspiration for your next party.”