TRENTON-The state Economic DevelopmentAuthority has approved Cablevision’s application for a$37.5 million Urban Transit Hub tax credit if the company followsup on plans to keep a call center employing 575 people in Newarkafter its current lease expires in 2014.
At this week’s meeting, the EDA also approved $87 million in taxcredits under the Grow NJ program for threesmaller projects.
Cablevision had previously considered consolidating its60,000-square-foot call center into its Long Island headquarters,or possibly moving it to Connecticut. With the award of thetax credit, Cablevision spokesperson said it would in turn invest$73 million in building a new call center at 494 Broad St. indowntown Newark, a few blocks from its current home.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
