Around the State – North JerseyJERSEY CITY Lower rents and economic incentives have convinced Citco Fund Services to set up shop in Jersey City where it expects to create about 300 jobs by year-end. Jay Peller, COO of the hedge-fund management services provider, says the company will maintain marketing operations at its New York City digs, but most of its back-office activities will be transferred to the new location, which comprises some 70,000 sq. ft. on two floors of the Harborside Plaza 10 office building.
ÂJersey City”s lower rents played a role in our decision,Â he says. ÂNew jersey”s business incentive programs, which will reward us for creating jobs, also played a big part in the process.Â