EDA OKs $15M in incentives for pair of N.Y. food firms to move to N.J.

By ROI-NJ Staff
Trenton | Sep 14, 2017 at 12:13 pm

The New Jersey Economic Development Authority on Thursday approved Grow New Jersey tax credits that could lure two New York food manufacturers to the state, it announced.

Brooklyn-based Gourmet Nut Inc., a maker and distributor of nuts and other snack foods, was offered $1.21 million per year over a 10-year period in Grow NJ credits to relocate to a 61,950-square-foot facility in Perth Amboy. The move would create more than 110 jobs and lead to more than $6.4 million in investment. Gourmet Nut is also considering a site in Allentown, Pennsylvania.

Bronx-based meat manufacturer Schuster Meat Corp., meanwhile, was offered $300,00 per year over 10 years to relocate to a 53,000-square-foot site in Lodi. The move would create 40 jobs and lead to more than $8.9 million in investment. Schuster Meat is also considering a lease in the Bronx.

“New Jersey has a long, rich history in the food industry, and is home to many leading food companies,” NJEDA CEO Melissa Orsen said in a prepared statement. “The state holds a special appeal for food manufacturers based on its logistical advantages and highly skilled labor pool.”

Another project that received Grow NJ tax incentives was Brooklyn-based Elite Décor Inc., a window treatment manufacturer, which received an offer of just over $700,000 per year for 10 years to move to Clifton instead of Middletown, New York. The move would create more than 100 jobs and bring in more than $2 million in investment.

ROI-NJ Staff | editorial@roi-nj.com | @roinjnews