EDA approves 16M in incentives for jewelry maker’s Secaucus project

The Economic Development Authority voted Tuesday to approve a 10-year, $16 million Grow New Jersey award for jewelry manufacturer Frederick Goldman to build a 59,500-square-foot facility in Secaucus instead of West Nyack, New York.According to the EDA, the proposed Secaucus project would bring 214 full-time jobs currently based in Manhattan over to New Jersey. Over a 20-year period, the state estimates the project will yield a net benefit to the state of $39.6 million.

RELATED: American Water Works gets $164 million EDA award for Camden HQ project

Tuesday also featured the approval of a 10-year, $164 million Grow New Jersey award for Voorhees-based American Water Works to construct a new 250,000-square-foot headquarters facility in Camden.

Other awards approved Tuesday include:

Company: Adare Pharmaceuticals
Location: Lawrence Township
Award: 10-year, $1.9 million Grow NJ
Benefit: $17 million to the state over 20 years
Notable: Would create 40 new jobs

Company: Cummins Power Systems
Location: Kearny
Award: 10-year, $3.1 million Grow NJ
Benefit: $39.6 million to the state over 20 years.
Notable: Would retain 35 existing jobs, create an additional 72 full-time jobs

Company: SSB Manufacturing Company
Location: Carteret
Award: 10-year, $27.6 million Grow NJ
Benefit: $40.6 million to the state over 20 years
Notable: Would create 251 new full-time jobs

Company: GS FC Jersey City Pep 1 Urban Renewal, LLC
Location: Jersey City
Award: $40 million Economic Redevelopment & Growth award

Company: North 25 Urban Renewal Preservation, LP
Location: Trenton
Award: $8.8 million ERG

Company: Prospect Park Apartments Urban Renewal, LLC
Location: East Orange
Award: $7.9 million ERG

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