TRENTON, NJ—While the state's Economic Development Authority approved more than 10 projects for a total of $180 million in incentives on Tuesday, the buzz at the session centered on a project that never made the agency's final agenda.
A proposal to award $107 million in Grow New Jersey incentives for a major project by defense contractor Lockheed Martin in Camden was placed on an advance draft agenda but did not appear on the agenda nor was it discussed at the EDA's meeting on Tuesday, according to NJBiz.
Prior to the session, EDA spokesperson Erin Gold said that the project “will not be advancing to the board meeting for this month. As is sometimes the case with projects the EDA board is set to consider, additional materials are needed to move forward.”
One of the more high profile projects that was granted incentives at the meeting was LI 2000, which operates as Century 21 Department Stores, which was granted a 10-year, $39.9-million Grow New Jersey award to help it expand into a newly acquired warehouse in Secaucus that is adjacent to three existing warehouses already on-site. The company is weighing the expansion in Secaucus against moving to Hamptonburgh in Orange County, NY.
In addition, BlackRock was approved for a 10-year, $12.1-million Grow New Jersey award for its plans to add at least 255 new jobs over a three-year period to its West Windsor location. See story at NJBiz.com.
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