NJEDANew Jersey Economic Development Authority
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It seems as though the NJEDA has a soft spot for financial services.
The New Jersey Economic Development Authority (NJEDA) announced on Friday that the development has been awarded $33 million in tax credits after being chosen under a competitive solicitation by the NJEDA as part of its efforts to encourage "significant redevelopment" in urban centers and to support diverse business expansion and retention in the garden state.
Franzini and the NJEDA work closely with state agencies and the high- technology community in New Jersey, including the Biotechnology Council of New Jersey, to understand financing needs in the marketplace and to develop the programs that make this growth and progress possible.
We are extremely pleased to be participating in the NJEDA program for the third consecutive year," commented Dr.
The NJEDA is an independent, self-sustaining state financing and development agency that works to promote economic growth, job creation and the revitalization of New Jersey's communities with financing assistance, technical support and entrepreneurial training, and real estate development activities.
Retail facilities are not eligible, and all BEIP grants are subject to NJEDA board of directors approval.
Other NJEDA lending programs can also be combined with the bonds to enhance the structure of the financing.
While the NJEDA bonds provided crucial support for the development of our manufacturing operations, we have determined that the cost of carrying the bonds may outweigh the benefits of keeping them outstanding through their maturity," stated Jay Wadekar, President and Chief Executive Officer of Able Laboratories.
The tenant improvement allowance is the latest benefit being made available by the NJEDA for participating companies signing leases at The Technology Centre.
In making the announcement, Jacobs Group Vice President Warren Dean stated, "We are pleased with this important assignment for this unprecedented school construction program, and we look forward to a long and productive relationship with the NJEDA to help rebuild New Jersey's schools.