Business

Hertz moving headquarters to Florida

PARK RIDGE, N.J. — Hertz will move its headquarters from New Jersey to Florida, putting the company in the heart of a key travel market and trimming corporate expenses after its $2.3 billion buyout of Dollar Thrifty.

Up to 700 jobs will shift to Florida over two years, the company said Tuesday. More than 2,000 Hertz and Dollar Thrifty workers will stay in New Jersey, including about 150 employees from the current headquarters in Park Ridge. All other Park Ridge workers will keep their current positions at the new headquarters in Estero, Fla., north of Naples.

Enterprise Florida, the state’s economic development arm, said state and local officials crafted a package of incentives worth more than $19 million to attract Hertz to Florida.

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Florida Power & Light, the state’s largest utility, also agreed to rate reductions over a four-year period that will save Hertz about $125,000.