Cambridge Security Services, a national security company, is relocating its headquarters and National Command Center from Manhattan to a 10,000 square foot complex in downtown Newark, New Jersey, with plans to create 200 jobs.
Cambridge Security President Stanley J. Czwakiel said the firm selected downtown Newark, at 90 Mulberry Street, for its national communications network and headquarters, because of its location advantages and cost efficiencies, including affordable real estate.
"We took a long hard look at what was best for our clients and our company, and we ended up relocating here, in my old home town. That's a good feeling," said Czwakiel said. "Our firm is at a very aggressive stage of growth and Newark is the ideal location to support this expansion and also offers us the opportunity to become an integral part of the rapid growth that is occurring in the technology and services industries here."
"The location and expansion of businesses such as Cambridge Security Services are an economic development accomplishment for Newark," said Lyneir Richardson, President and CEO, Brick City Development Corporation. "Every day BCDC proactively competes for companies such as Cambridge Services and we are proud they selected a location in downtown Newark for their new headquarters, which is rapidly emerging as a preferred destination for technology and service related firms."
While information on incentives provided Cambridge was not immediately available, the Brick City Development Corporation offers qualified firms New Jersey's Urban Transit Hub Tax Credits, a program in which a company may qualify for tax credits equal to 100 percent of the qualified capital investment that may be applied against corporation business tax, insurance premiums tax or gross income tax liability. In addition BCDC can utilize the Economic Redevelopment Growth Grant program. Newark, New Jersey has also been designed an Urban Enterprise Zone, making businesses eligible for tax incentives and hiring grants.