New home for Forbes

Last updated 08:23 17/01/2014

Relevant offers

World

UK retail company Sports Direct condemned for 'Victorian' work conditions Pokemon Go is providing some new revenue options Ban on Wicked Campers in Queensland widely applauded Australia's richest woman Gina Rinehart buys two cattle stations Scandal costs grow but Volkswagen stock jumps US goes after $1.4 billion in assets linked to Malaysian fund 1MDB Lachlan Murdoch set to get his revenge on Fox boss Roger Ailes ANZ Bank makes A$50m just by moving the furniture The world's first Pokemon Go dating service launches in US British police confirm Unaoil graft investigation

Forbes magazine is leaving its historic New York City headquarters and moving hundreds of employees to New Jersey.

Forbes Media, which publishes the magazine, announced on Wednesday that it has secured office space in the Newport area of Jersey City. Forbes plans to relocate by the end of this year. The exact date has not been determined.

The move comes after New Jersey's Economic Development Agency approved a US$27.1 million ($32.6m) incentive over 10 years for Forbes.

Forbes sold its Fifth Avenue building in Greenwich Village to New York University in 2010 but kept a five-year lease on the property it occupied since 1962.

Forbes will keep an office in New York. The company says it's in the final stages of securing space in the city.

Ad Feedback

- AP

Special offers

Featured Promotions

Sponsored Content