Politics

EDA OKs $200M in incentives for Mars Wrigley, Quest, others

By Anjalee Khemlani
Trenton | November 14, 2017 at 2:12 pm

By Anjalee Khemlani
November 14, 2017 at 2:12 pm

The New Jersey Economic Development Authority approved more than $200 million in Grow New Jersey incentives Tuesday for some marquee names, including Mars Wrigley, Ralph Lauren, LabCorp, Quest Diagnostics and Konica Minolta.

The biggest award ($55 million over 10 years) went to Quest Diagnostics, which promises to create 384 new jobs in its move from Madison to Nutley-Clifton.

Ralph Lauren has been awarded $33 million over 10 years on the promise of creating 250 new jobs if the company moves its back-office support to the old Hoffmann-La Roche building in Nutley-Clifton.

Mars Wrigley Confectionery was awarded $31 million over 10 years to create an office in Newark, which would bring 113 new jobs.

The move by Mars Wrigley Confectionery was first reported by ROI-NJ last week.

The EDA also announced the largest-ever award for energy resilience, to University Hospital in Newark.

Since the damage and down time associated with Hurricane Sandy, the state has been awarding funds to hospitals and related health care facilities to ensure they are able to continue operations after a disaster.

To date, a number of hospitals have received the funding, but University Hospital received the largest award Tuesday, $36 million, for a combined heat and power system.

That leaves $7.8 million in the Energy Resilience Bank, which was original funded at $200 million.

Hunterdon Medical Center also was awarded ERB funding Tuesday, in the amount of $9.5 million.

(READ MORE from ROI-NJ on Mars Wrigley and the other EDA awards.)

A look at the Grow NJ awards:

Company: Corporate Synergies Group
Location: Camden
Industry: Insurance
Award: $1.6 million per year over 10 years
Jobs: 142 new and retained employees

Company: Konica Minolta Business Solutions
Location: Ramsey
Industry: Technology
Award: $2.9 million per year over 10 years
Jobs: 474 retained jobs
Notes: Seeks to consolidate New Jersey and Connecticut operations into Ramsey facility. Also looking at possible facility in Pearl River, New York. New Jersey is the more expensive option for the company, as it was offered more than $20 million in incentives by New York.

Company: LabCorp (Laboratory Corp. of American Holdings)
Location: Raritan
Industry: Health care
Award: $3.9 million per year over 10 years
Jobs: 1,201 existing jobs, 175 new jobs
Notes: Renovation and expansion of existing facility

Company: Lonza America
Location: Morris Township
Industry: Life sciences
Award: $326,250 per year over 10 years
Jobs: 148 retained, 40 new jobs
Notes: Current Allendale, Pennsylvania, and South Plainfield facilities are outdated. The company is considering a move to consolidate in Morris Township or Pearl River, New York.

Company: Mars Wrigley Confectionary
Location: Newark
Industry: Food
Award: $3.2 million per year over 10 years
Jobs: 370 retained jobs and 113 new jobs, which would be relocated from Chicago

Company: Mars Wrigley Confectionary
Location: Hackettstown
Industry: Food
Award: $110,000 per year over 10 years
Jobs: 92 new jobs
Notes: For a regional operational hub in Hackettstown

Company: Quest Diagnostics
Location: Clifton; Teterboro
Industry: Health care
Award: $5.5 million per year over 10 years
Jobs: 384 new, 754 retained jobs
Notes: Was approved in May 2016 for $18.6 million to relocate headquarters from Madison (and support services from Lyndhurst) to Secaucus. The award amount is in excess of the $4 million cap allowed, but is determined to be necessary to complete the project.

Company: Ralph Lauren
Location: Nutley
Industry: Retail
Award: $3.3 million per year over 10 years
Jobs: 250 new, 518 retained jobs
Notes: The incentive is to encourage the company to invest in a larger back-office support location in the old Hoffmann-La Roche building that is currently the site of a new medical school, clinical site and other tenants.

Company: RSM US
Location: Edison
Industry: Accounting
Award: $210,000 per year over seven years
Jobs: 60 new jobs

Company: Vineland Poultry
Location: Vineland
Industry: Food/agriculture
Award: $220,000 per year over 10 years
Jobs: 40 new jobs

Company: Yoland Corp.
Location: Paterson
Industry: Manufacturing
Award: $386,900 per year over 10 years
Jobs: 50 new jobs

 

 

2017-11-20T14:26:46+00:00
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