Accurate Box Receives $40M in Incentives

TRENTON, NJ—Accurate Box Co. of Patterson, NJ has decided to remain in the Garden State rather than move to Orange County, NY thanks to nearly $40 million in state incentives.

The company's retention was announced on Monday by New Jersey Lt. Gov. Kim Guadagno. The company will receive a GrowNJ incentive award worth $39.8 million over 10 years. The award will help the company retain more than 220 employees and create 51 new jobs. Accurate Box expects to invest approximately $19.8 million to renovate and expand its current Patterson facility from 287,000 square feet to 365,000 square feet.

“Not only is Accurate Box a third-generation, family-owned business, but it is also a woman-owned business that has prospered and grown for decades,” says Lt. Gov. Guadagno. “This is another example of the state's collaborative efforts to retain our businesses, and we are excited to announce that Accurate Box will continue to expand and call New Jersey home.”

The Partnership for Action, including the Business Action Center and the New Jersey Economic Development Authority, worked in collaboration to keep Accurate Box in the Garden State, state officials say.

“We are grateful to the Business Action Center and the EDA for their help and support of our plans to expand here in Paterson. Parts of our manufacturing facility are over 100 years old and badly in need of restoration,” says Lisa Hirsh, president of Accurate Box. “With this program, we will be able to update, modernize and expand our buildings which will enable us to continue to grow and add jobs in Paterson. Accurate Box has been a New Jersey company for all of its 70 years and we are happy to be able to remain here. We also want to thank the City of Paterson and the County of Passaic for their continued support of this project.”