JERSEY CITY, NJ—A payment processing firm that is currently housed in short term space at 101 Hudson St. here will receive approximately $6 million in state tax credits over the next two decades to expand operations at the building rather than relocate to Atlanta.

The New Jersey Economic Development Authority approved the tax credits for First Data at its meeting earlier this month, noting that the company’s expansion will produce 74 new jobs. The firm, currently operating on a portion of the 39th floor, will relocate and occupy the entire 40th floor of the Mack-Cali Realty-owned building. First Data also has an office in New York City.

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