NAPLES (CBSMiami) – The Hertz corporation will move its headquarters from New Jersey to the Sunshine State over a two-year period.

Hertz’s move will put the company in the middle of the key Florida travel market and reportedly trim corporate expenses. The company is cutting costs after it completed a $2.3 billion buyout of Dollar Thrifty Automotive Group last November.

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Up to 700 jobs will shift to Florida over a two-year period. 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.

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All other Park Ridge workers will be able to keep their current positions at the new headquarters in Estero, Fla., just north of Naples on the Gulf Coast.

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