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Cranes in the Air

The New Jersey Economic Development Authority offers powerful incentives to advance job creation, retention and redevelopment in New Jersey. 

Below are some examples of significant projects that are moving forward with EDA support.


Bell Works - Holmdel, Monmouth County

"The impressive technology created by talented people in this building will once again echo as iCIMS will usher in a new era of technology and innovation in the Garden State and continue our strong growth and profitability as we make our transition into Bell Works.”

‐ Colin Day, Founder and Chief Executive Officer, iCIMS

 



Somerset Development is advancing a $200-million transformation of the former Bell Labs complex in Holmdel into a vibrant live-work-play community. The EDA approved Grow NJ awards for three companies that will occupy 425,000 square feet of space at the two-million-square-foot facility.  These projects represent the expected creation of 730 new jobs, the retention of more than 700 jobs that were at risk of leaving the State, and private investment in excess of $50 million.  The three companies are: iCIMS, a leading provider of innovative Software-as-a-Service (SaaS) talent acquisition solutions that enables growing organizations to manage the process of attracting, screening and hiring great talent; WorkWave, a cloud-based business management and fleet management solutions company; and, telecommunications firm MetTel.


Holtec International, Inc. - Camden, Camden County

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"We will work with the State of New Jersey and the City of Camden to leverage our plant to serve as a training academy to help young men and women, especially unemployed Camden residents and veterans, to acquire skills that yield well‐paying jobs.”

‐ Dr. Kris Singh, Holtec's Founder, President and CEO


Construction is underway at the site of Holtec International’s new, $260 million state-of-the art headquarters in the City of Camden.  The Holtec Technology Campus will occupy approximately 50 acres of land along the waterfront and include two manufacturing plants. The global company, which builds equipment for nuclear, solar and other types of power plants, is committed to the City of Camden, hiring local construction workers and engaging local security, construction, and supply companies since breaking ground in July 2015. Holtec’s approval for Grow NJ tax credits is based on bringing more than 230 new employees to Camden, but company officials have indicated the number could climb to over 1,000 by the end of the decade.

The Roebling Lofts - Trenton, Mercer County
(Completed Summer 2017)
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“As this development and other projects underway in Trenton move forward, we foresee this City
becoming an increasingly vibrant destination and sought after place to live and work.”

- W. David Henderson, Principal, HHG


Roebling Lofts, a mixed-use development being advanced by HHG Development Associates, will transform the old Roebling Steel building into rental lofts and apartments. Vacant for nearly 20 years, the structure represents the first of four John A. Roebling’s Sons buildings planned for rehabilitation by HHG. The project will include multi-family lofts, two-bedroom lofts, and one bedroom units, all featuring high ceilings and large industrial windows. Future plans for the complex include an additional building housing loft-style units and restaurant/retail space to be built from the ground up.  The $42 million ERG-supported project will be under construction until the Spring of 2017.  HHG is committed to hiring locally, holding two job fairs expressly to provide construction employment opportunities to residents of Trenton.
 

Rowan Boulevard - Glassboro, Gloucester County

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“The progress that’s been made in just a few years to create a quintessential college town is staggering. Glassboro is our home and ultimately we want no distinction between our campus and the Borough of Glassboro.”

- Rowan University President Ali Houshmand


Advanced by Nexus Holdings, two projects associated with the Rowan Boulevard Redevelopment Enterprise, which links the Rowan University Campus with downtown Glassboro, are underway with support from the ERG program.  Construction continues on a $102 million, three-building, mixed-use property consisting of retail space, student housing, a fitness center, classroom space, market rate apartments, and a parking garage. Also making progress with ERG support is a $71 million mixed-use property consisting of two six-story buildings and one four-story building comprised of a similar mix of student housing, market rate apartments, and retail and office space. The ERG program also helped to advance an earlier phase of the Rowan Boulevard Redevelopment. A $73 million, six-story mixed-use building was completed in August 2015.
 

One Theater Square - Newark, Essex County

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“The striking look of its curved glass front and 22-impressive stories signals a new era for Newark, blending its rich history with a bold, new vision for its future. With our topping off completed we look forward to opening our doors to apartment residents and retailers beginning in early summer.” 

- Carl Dranoff, CEO and Founder Dranoff Properties


Just a short distance from the New Jersey Performing Arts Center in Newark, Dranoff Properties is advancing One Theater Square, a new high-rise apartment building featuring 244 residential units, street level retail space and a parking garage, creating a walkable, urban lifestyle development.  The project, which represents more than $106 million in private investment and is expected to create more than 200 construction jobs, was approved for $33 million in tax credits under the Urban Transit Hub program. The EDA also issued a $1.5 million taxable bond to support the project.

 

Stockton University - Atlantic City, Atlantic County

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“We are changing the tempo of the neighborhood with up to 1,500 people per day at one intersection of the city. This is an extraordinary partnership and a great start.”

– Chris Paladino, President, AC Devco


In Atlantic City, the new Island Campus of Stockton University is taking shape. The satellite campus will include 210,000 square feet of dorm space, 56,000 square feet of academic space, and 7,000 square feet of retail. The project was approved for up to $38.4 million under the Economic Redevelopment and Growth (ERG) Program.  Additional ERG support was approved for construction of a seven-story, 886 parking garage which will serve both Stockton University and South Jersey Industries. South Jersey Industries was approved for Grow NJ tax credits of up to $12.6 million over 10 years to locate its headquarters at the campus.  South Jersey Industries expects to invest more than $493.3 million in the project and to create more than 167 jobs at the site.