Mercedes-Benz USA, a subsidiary of German car giant Daimler, will relocate its corporate headquarters from New Jersey to Georgia, according to CEO Stephen Cannon. This decision will affect about 1000 employees working at Mercedes' facility in Montvale, New Jersey. However, the company stated that it will retain “several operational areas” in the state.

"New Jersey has been a wonderful home to our US operations for our first 50 years and still is today," said Mr Cannon. "The state has worked tirelessly with us as we evaluated our options. Ultimately, though, it became apparent that to achieve the sustained, profitable growth and efficiencies we require for the decades ahead, our headquarters would have to be located elsewhere. That brought us to Atlanta.”

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Among the main reasons for the move from Montvale, the company's home since 1972, to Georgia, Mr Cannon pointed to Georgia's low-cost environment, workforce quality and proximity to Mercedes' plant in Alabama.

Employees and staff are scheduled to begin moving in July 2015 and the company's new facility in Atlanta is expected to be finished in 2017. The company is expected to create about 800 jobs in Georgia and receive an estimated $23m in tax credits and other incentives, according to an offer letter prepared by the Georgia Department of Economic Development.