TRENTON, N.J., Oct. 8 -- The New Jersey Economic Development Authority issued the following news release:
In support of the Christie Administration's commitment to spur business growth and community investment, the Board of the New Jersey Economic Development Authority (EDA) took action today to incentivize investments in emerging technologies, encourage significant redevelopment in urban centers and support diverse business expansion projects. In total, these projects are expected to result in the creation of more than 1,600 construction jobs, nearly 490 new, full time jobs and the retention of 400 existing jobs.
"The projects approved today by the Board reflect the breadth and depth of economic activity happening in our state," said EDA Chief Executive Officer Michele Brown. "EDA support is very important for these projects to come to fruition, and they, in turn, are important to spur economic development and job growth."
To encourage business expansion and retention in Bergen County, EarthCam Incorporated was approved for both a Business Employment Incentive Program (BEIP) and Business Retention and Relocation Assistance Grant (BRRAG) award. The global technology leader is contemplating a move to a 41,544-square-foot facility in Upper Saddle River or a location in New York. If New Jersey is chosen, the company expects to double its staff to 160 and invest over $6 million.
The Board approved a BEIP and BRRAG to encourage McGraw-Hill Global Education Holdings to remain and expand its operations in Mercer County. The digital learning company is seeking to move to independent, stand-alone space in East Windsor, which would involve the creation of 40 new, high-wage jobs and an investment of approximately $2.15 million. The company is also reviewing locations in New York.
In a move designed to maintain jobs that are at risk of leaving the state and fuel job creation, the Board approved a Grow New Jersey award to encourage Maplewood Beverage Packers to expand in New Jersey. The company, which manufactures and distributes Arizona Iced Tea products, is considering development options in-state or relocating operations to New York. If the company selects New Jersey, it will develop land in Woodbridge, adjacent to its current operations in Edison, significantly increasing its footprint and employee base. Plans call for the construction and outfitting of a 560,000-square-foot structure for manufacturing and distribution, which would result in the retention of 215 jobs and the creation of 100 new, full-time positions.