EDA approves 180M in incentives, but Lockheed project not among them

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More than $180 million in Grow New Jersey incentive awards were approved Tuesday by the Economic Development Authority for more than 10 different projects across the state.Not included in that figure, however, was a 10-year, $107 million incentive award proposed for a Camden-based project by defense contractor Lockheed Martin that had originally appeared on the advance draft agenda for Tuesday’s board meeting.

Prior to the meeting, EDA spokesperson Erin Gold said that the project “will not be advancing to the board meeting for this month. As is sometimes the case with projects the EDA board is set to consider, additional materials are needed to move forward.”

RELATED: $107M Lockheed application off EDA agenda

EDA representatives have declined to release any additional information about the project and Lockheed Martin has not immediately returned a request for comment.

Of the projects that did receive incentive award approval, LI 2000, which operates under the trade name of Century 21 Department Stores, led the way, with a 10-year, $39.9 million Grow New Jersey award to help it expand into a newly acquired warehouse in Secaucus that is adjacent to three existing warehouses already on-site. The company is weighing expansion in Secaucus against moving to Hamptonburgh, New York, putting 931 jobs currently based in New Jersey at risk. The proposed expansion would call for 261 new full-time jobs and produce a net benefit to the state of $41 million over 20 years, according to the EDA.

Global investment management firm BlackRock was approved for a 10-year, $12.1 million Grow New Jersey award for its plans to add at least 255 new jobs over a three-year period to its West Windsor location. The company also is considering adding the same number of employees to its location in Wilmington, Delaware. The project would yield an estimated net benefit of $77 million to back to the state over a 20-year period.

The EDA will next meet on Nov. 10.

Other approved awards from Tuesday include:

• CareKinesis, a Moorestown-based pharmacy solutions provider, was approved for a 10-year, $9.7 million Grow New Jersey award to expand its current facility there as opposed to relocating to Philadelphia. The award aims to retain 69 jobs in the state and support the creation of 195 new positions, carrying an estimated net benefit to the state of $84 million over 20 years.
• Charles Komar & Sons, a Manhattan-based apparel company, received approval for a 10-year, $37.2 million Grow New Jersey award to relocate to Jersey City, as opposed to Long Island City, and expand its operations with 480 new jobs. The project would yield an estimated net benefit of $146.2 million to the state over 20 years.
• Diasol, a Calif.-based medical device manufacturer, was approved for a 10-year, $1.05 million Grow New Jersey award to establish a manufacturing and distribution center in Phillipsburg, as opposed to Allentown, Pennsylvania. The move would create 14 new jobs and have an estimated net benefit of $2.1 million to the state over a 20-year period.
• LTC Consulting Services, a Howell-based medical billing and business management firm, was approved for a 10-year, $24.5 million Grow New Jersey award for its plans to construct a new facility in Lakewood that would retain 227 jobs and create another 250 positions. The company is also considering a site in Lancaster, Pennsylvania. The state estimates the net benefit of the project to be $53 million over 20 years.
• Material Handling Supply, a Brooklawn-based forklift truck and warehouse product provider, was approved for a 10-year, $1.8 million Grow New Jersey award to expand into an existing facility in Pennsauken as opposed to New Castle, Delaware. The move would retain 57 jobs and yield an estimated net benefit back to the state of $13.4 million over 20 years.
• MGP Manufacturing, a gutter guard manufacturer that is headquartered in New Jersey but operating in Pennsylvania, received approval for a 10-year, $3.7 million Grow New Jersey award to establish a central headquarters and manufacturing facility in Paterson, rather than Newburgh, New York. The project would carry 31 new jobs along with it and yield an estimated net benefit to the state of $8.5 million over 30 years.
• Northern Leasing Systems, a New York-based equipment finance company, was approved for a 10-year, $7.1 million Grow New Jersey award to help the company relocate and expand to Jersey City rather than Long Island City. The move would bring 92 jobs to New Jersey and yield an estimated net benefit to the state of $20.8 million over 20 years.
• Patella Construction, an Orangeburg, New York-based woodworking firm, was approved for a 10-year, $10.3 million Grow New Jersey award to bring 70 jobs with it to a new site in Passaic, as opposed to staying and expanding in New York. The estimated net benefit to the state is $36 million over 30 years.
• Pollaro Custom Furniture, a Union-based company, was approved for a 10-year, $2.6 million Grow New Jersey award to relocate and expand to Hillside, rather than Hickory, North Carolina. The move, which carries with it an estimated net benefit to the state of $32.5 million over 20 years, would retain 25 jobs in New Jersey and create another 20 positions.
• Princeton Tectonics, headquartered in Bordentown, received approval for a 10-year, $18.3 million Grow New Jersey award to relocate and expand to Pennsauken rather than Queensbury, New York. The move, which has an estimated net benefit of $26.2 million over 20 years to the state, would retain 95 jobs and create an additional 156 positions.
• Taiho Oncology, a West Windsor-based outpost for its Japanese pharmaceutical parent company, was approved for a 10-year, $3.5 million Grow New Jersey award to expand in the township rather than relocate to Yardley, Pennsylvania. The move would retain 62 jobs in-state and create an additional 39 positions, yielding an estimated net benefit to the state of $55 million over 20 years.
• Gaming Laboratories International, a Lakewood-based testing service for gaming and wagering systems, was approved for a 10-year, $9.9 million Grow New Jersey award to add 45 employees and retain another 243 positions in Lakewood as opposed to moving to Newtown, Pennsylvania. The project has an estimated net benefit of $56.3 million over 20 years to the state.

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