Verizon to remain at Newark headquarters
Verizon lends its brand name to Newark by maintaining its HQ here and adding more employees.
Also covered is the renovation of art-deco designed 545 Broad, which must be pretty exciting for the building’s occupants.
Verizon Communications plans to keep its 650 employees in downtown Newark — and to bring in another 300 next year — in a reversal that could help bolster the fortunes of the state’s largest city.
In February, Verizon reached an agreement with Accordia Realty to sell its 20-story New Jersey headquarters on Broad Street, and said it was contemplating a move to the suburbs. But last week, Verizon agreed to a 10-year lease in which the telecommunications company will occupy about seven floors of the historic, art deco building, said Verizon spokesman Richard Young.
“We are very excited to not only maintain, but to increase our work force in the City of Newark,” said Verizon New Jersey President Dennis Bone. “For decades, Verizon and the City have worked hand in hand to make Newark and New Jersey, as a whole, a better place to work and live.”