“Grow New Jersey” Offers Incentives To Spark Manufacturing In Newark, Jersey City, Bridgewater and Bayonne
Approximately 60 percent of tax credits approved to date under Grow NJ are in a defined targeted industry; of that, nearly half are in the manufacturing sector, said EDA Chief Executive Officer Melissa Orsen. Manufacturing is one of several industries targeted for growth under the EOA. Other targeted sectors include technology and life sciences, finance, and logistics.
“Today’s Board actions demonstrate the effectiveness of the EOA in attracting businesses in industries such as manufacturing, that play a key role in creating good paying jobs and supporting a robust economy,” she added.
According to the New Jersey Economic Development Authority;
In Newark, Fabuwood Cabinetry is considering consolidating three existing New Jersey locations into one, retaining 330 jobs at risk of leaving the State for Staten Island, and is expected to create more than 270 new jobs.
Manhattan-based C2 Imaging, an integrated media graphics solutions company, is considering Jersey City as its home, over an alternative location in Long Island City, bringing with it 110 new manufacturing jobs.
Linde North America LLC, a New Providence-based manufacturer and supplier of industrial, medical, and specialty gases, may relocate to and create 150 new jobs in Bridgewater while retaining 450 jobs at risk of leaving the state for Fort Washington, Pennsylvania.
Finally, Showman Fabricators Inc., a manufacturer of scenery and specialty fabrications for Broadway, television, architectural projects, special events and museum and retail industries, is weighing whether to remain in its current Long Island City location or relocate to a facility in Bayonne, creating 90 new jobs.
The EDA is part of the state’s results-driven Partnership for Action. The Partnership is the hub for all economic development activity in New Jersey and is comprised of four interconnected and highly focused organizational elements: the Business Action Center, the Office of the Secretary of Higher Education and the EDA and Choose New Jersey.
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