The location of an office building, university complex, performing arts facility, etc. can be vital, not only to the project’s success, but also to its impact on a community. The EDA’s assistance in land acquisition has been essential to the advancement of many urban projects throughout the State. We can help assemble property for public purposes and for certain economic development projects where the need to gain site control at a specific location is critical to a project’s implementation.
Development and Construction
In addition to its land acquisition capabilities, the EDA is unique among public agencies in New Jersey because it has the ability to design, finance, construct, and manage projects for public and private-sector clients, either for lease or on a build to suit basis. Projects developed by the EDA can enjoy favorable tax and regulatory treatment, as well as attractive occupancy costs.
Typically, projects must fall into one of these categories:
- Urban commercial development
- Technology and life sciences, especially those located in the Newark, Camden and Greater New Brunswick Innovation Zones
- Projects that create, attract or retain high-wage jobs in high-growth sectors of the State’s economy
- Projects undertaken for public or not-for-profit sector clients