Fortune 500 maker of Bubble Wrap, food packaging Sealed Air Corp. moving HQ from NJ to NC

MarketsAssociated Press

Fortune 500 packaging company Sealed Air Corp. will consolidate management operations from several states and relocate its New Jersey headquarters to the Charlotte area, where it plans to employ nearly 1,300 jobs in three years.

A North Carolina committee that approves the state's main tax break to attract businesses on Wednesday approved up to $36 million over 12 years if the company meets job and investment targets. The Elmwood Park, New Jersey-based company also will receive at least $5 million more in incentives from state and local governments.

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The maker of Bubble Wrap protective cushioning, food packaging and cleaning products will consolidate some operations from Connecticut, Wisconsin, Massachusetts and New Jersey into a new headquarters complex in the Charlotte area. State officials say a site hasn't been selected yet.