TRENTON, NJ-The first five projects approved under the state'sEconomic Opportunity Act provide a total of $93million in ten-year tax incentives to companies that are expectedto create 900 jobs and retain another 925 jobs in-state.
Valeant Pharmaceuticalsreceived the largest award - $39.5 million over ten years -approved by the Economic Development Authority.The Canadian company, which has its U.S. headquarters inBridgewater, will add 500 jobs and expand its presence inBridgewater under terms of the Grow NewJersey grant.
Valeant already has 274 employees in the state. Lastsummer, it acquired Bausch & Lomb, the eyecarecompany based in Madison, and announced plans to move a number ofemployees to a consolidated office building.
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