By David Madden

CHERRY HILL, N.J. (CBS) — The US arm of Japanese carmaker Subaru has now confirmed reports from several media outlets, including KYW Newsradio, that it plans to shift its corporate headquarters from Cherry Hill to Camden, NJ.

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Subaru of America, in a press release, says it plans to build a new, 250,000-square-foot facility, which will double the company’s current capacity and allow it to consolidate operations now housed in three buildings, in Cherry Hill and Pennsauken.

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The new headquarters will be located on the site of a former Sears store on Admiral Wilson Boulevard, a site now controlled by Campbell’s Soup Co.

New Jersey’s Economic Development Authority is expected to approve a ten-year tax incentive plan next week that will help fund construction.

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