16A — January 27 - February 9, 2017 — Economic Development — M id A tlantic
Real Estate Journal
www.marejournal.com
E conomic D evelopment
By Joanne Cimiluca, Bergen County Division of Economic Development In Bergen County, NJ, business is sweet. Literally.
B
ergen County, NJ is home of the ‘big 07652’ (aka, Paramus) where
Cascades Containerboard Packaging, a manufacturer of containerboard and corrugated paper products, is considering constructing a state-of-the-art facility in Union County, in the city of Elizabeth, Union County, or Newtown, CT. The project is expected to create 182 new jobs, and is associated with private investment of more than $116 million. In Somerset County, Cyal- ume Specialty Products Inc., may expand in Franklin Twp., where it would invest $4.5 million to renovate a 44,392 s/f facility, or relocate to a company-owned facility inWest Springfield, MA. If it chooses Franklin Twp., the manufac- turer of specialty chemical products for the pharmaceu- tical, medical products and cosmetics markets expects to create 10 new jobs and retain 27 at risk of leaving the State. Projects in two other sectors targeted for growth under the EOA, finance and life sciences, were highlighted at today’s meeting. Advisor Group, Inc., a financial services company consisting of a network of bro- ker-dealers, is considering relo- cating to Jersey City, bringing with it 60 new jobs and $1.78 million in private investment. If Advisor Group chooses Jersey City over Brooklyn, it would lease and renovate a 17,840 s/f facility. versities and top-rate hospitals and medical centers. Not to mention the assistance from the Bergen County Division of Economic Development (BCDED) connecting them to these assets and so many others. We get all the key people, from both the public and pri- vate sectors, together in one room so that a company feels 100% supported. What comes out of this process? Ongoing conversations, comprehen- sive services and strategic solutions. More specifically, the BCD- ED’s complimentary services include finding sites for com- panies to relocate and/or ex- pand to, assisting in hiring and training skilled workers and applying for the state’s Grow NJ tax incentive program,
Also in Jersey City, life sci- ences company Noven Pharma- ceuticals, a specialty pharma- ceutical company engaged in the research and development, manufacturing, marketing and sale of prescription pharmaceu- tical products, has identified a 16,000 s/f facility where it may locate 30 employees and invest $1.9 million in the new site. The alternative would be to relocate these positions to the company’s headquarters in Miami. The Business Action Cen- ter (BAC) worked in collabo- ration with the EDA to help cultivate these economic devel- opment projects, providing in- terdepartmental advocacy and ongoing customer support. As a performance-based program, approved Grow NJ projects must first generate new tax revenue, complete capital in- vestments, and/or hire or retain employees to receive approved benefits. The EDA and BAC are part of the State’s results-driven Partnership for Action. Created by Governor Christie and led by Lt. Governor Guadagno, the Partnership is the hub for all economic development activity in New Jersey and is comprised of four interconnected and highly focused organizational elements: BAC, Choose New Jersey, the Office of the Secre- tary of Higher Education and the EDA. EDABoardmeetings are typi- cally held at 10 a.m. on the sec- ond Tuesday of each month at 36 West State St. in Trenton. n “Right now we’re in the pro- cess of helping an internation- al manufacturer open a facility here,” said Joanne Cimiluca , director of the BCDED. “So far, we’ve partnered with the Bergen County Workforce Development Board, Bergen Community College, Mead- owlands Regional Chamber of Commerce and the mayor of the borough, and we’re not done,” she added. As the former mayor of Paramus, Bergen County Ex- ecutive JimTedesco has seen firsthand the powerful impact and identifying transportation options for employers. The BCDED also serves Bergen’s municipalities in their quest to repurpose antiquated office buildings, revitalize down- towns, establish improvement districts and more.
JESSUP, PA —LBPMan- ufacturing LLC, a food service packaging firm from Cicero near Chicago, who makes paper coffee cup sleeves and disposable coffee totes, will lease a 101,935-square-foot facility at 7 Alberigi Dr. located in the Jessup Small Business Park in Lackawa- nna County. They have com- mitted to the creation of 74 new, full-time jobs over the next three years, according to a news release from Gov. Tom Wolf’s office. “We’re proud to partner and grow in Pennsylvania, a state built on innovation. This expansion creates new jobs, brings new services to our clients, and builds on the values of performance and sustainability central to our continued growth and suc- cess.” said Matt Cook, CEO of LBP Manufacturing. “We are pleased that LBP Manufacturing is joining the growing roster of busi- nesses that have chosen Lackawanna County as a base for their operations,” said Bob Durkin , presi- dent of the Greater Scranton Chamber of Commerce. “We pledge to work with the LBP management team as they establish their innovative and industry-leading product line, while growing qual- ity jobs in the Jessup Small Business Park.” The chamber’s economic development arm, the Scran- ton Lackawanna Industrial Some of Bergen County’s residential, office and retail economic development proj- ects are Wesmont Station, Hudson Lights, Closter Plaza and the proposed Skymark Town Center and American Dream at the Meadowlands. Company newcomers include outdoor prehistoric theme park Field Station Dinosaurs, of strong public-private part- nerships. “Bringing together the resources and talent of government, business and non-profit sectors benefits all of us,” said Tedesco. Companies and municipali- ties often face big challenges when taking on major eco- nomic projects, as do develop- ers and builders. In Bergen County, we help wherever we can, from start to finish and beyond.
Building Co., or SLIBCO, developed the Jessup Small Business Park located just off the Casey Highway. The project was coordinat- ed by the Governor’s Action Team, an experienced group of economic development professionals who report directly to the governor and work with businesses that are considering locating or expanding in Pennsylvania, in collaboration with The Greater Scranton Chamber of Commerce and The Lacka- wanna County Department of Planning and Economic Development. “LBP Manufacturing had considered establishing its new facility in a handful of states in the eastern part of the country, but ultimately chose Pennsylvania as the best place to locate and grow its business,” said Governor Wolf. “Our prime location – with strong transportation logistics advantages – and our talented and dedicated workforce were both key factors in attracting the com- pany. I commend LBP on its decision to make Pennsylva- nia its home.” The company received about $181,000 in grants, with some money to be used for employee training, and $148,000 in job creation tax credits to be activated when the new jobs arrive. LBP plans to spend about $6 mil- lion to renovate the building and install newmachinery. n Many marquee corpora- tions call Bergen home. Cor- porations including Becton Dickinson, Stryker, Jaguar, Unilever, Samsung, Dassault Falcon, Quest Diagnostics, Volvo, Sharp, Konica Minolta, LG Electronics, BMW and others. What’s more, thou- sands of small businesses and Main Street shops line our 70 municipalities, and since we’re talking numbers, there are over 1,500 manufacturers within the County’s radius. With numbers like this, and real estate assessments showing both residential and commercial real estate values on the rise, Bergen County’s looking sweeter than ever. n Memorial Sloan Kettering, Amazon, Platinum Press, Brainsway USA and LuLu Hypermarket.
you’ll find the Garden State P l a z a – a mall attract- ing nineteen million shop- pers per year. Bergen is also where Oreo cookies
Joanne Cimiluca
are made and packaged every day along with a delicious beverage to wash them down, Yoo-hoo chocolate milk. But it’s more than the success of the shopping and sugar sec- tors that make Bergen County so appealing to site selectors and prospective businesses. It’s our highly skilled workforce, close proximity to Manhattan, outstanding colleges and uni- TRENTON, NJ — Three manufacturing sector projects expected to create a total of 390 new jobs were approved by the Board of the New Jersey Economic Development Au- thority (EDA) for tax credits under the Grow New Jersey (Grow NJ) Program. Advanced under the New Jersey Eco- nomic Opportunity Act (EOA), Grow NJ is the State’s main job creation and retention incen- tive program. “Manufacturing is one of sev- eral key industries targeted for growth under the EOA,” said EDA CEO Melissa Orsen . “Manufacturers are particu- larly important to the State’s economy for the career opportu- nities they offer, but also for the trade activity they spur and the important goods they provide that fuel other industries.” Under the GrowNJ program, projects in targeted industries are eligible for “per job” bonus- es. Orsen notes that more than 60% of tax credits approved to date under Grow NJ are for projects in a defined targeted industry; of those, more than 45% are in the manufacturing sector. Other targeted sectors under the EOA include technol- ogy, life sciences, finance, and logistics. In Passaic County, Vitaquest International LLC, a custom contract manufacturer of nutri- tional supplements, is expand- ing its assembly and packing capabilities by moving to a 79,650 s/f facility in Paterson where it will invest more than $4.1 million. The expansion in
Manufacturers benefit from EDA board action Paterson would result in the creation of 100 new jobs and retention of 110 jobs at risk of leaving the State for Rochester, NY.
LBP Manufacturing facility brings 74 new jobs to Lackawanna County
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