Economic Development News
Friday, August 18 2017
Open First US Offices in Hamilton, NJ
Friday, July 14 2017
Trenton, NJ —- Following approval of Grow New Jersey (Grow NJ) tax credits by the New Jersey Economic Development Authority (EDA) Board, Nuts.com announced its decision to expand its presence in New Jersey by opening a state-of-the-art corporate office in Jersey City, where it plans to create more than 150 new jobs.
Advanced under the New Jersey Economic Opportunity Act (EOA), Grow NJ is the State’s main job creation and retention incentive program. The approval of Grow NJ tax credits for Nuts.com was based solely on creation of new jobs in New Jersey that would otherwise be created outside of the State. The company will also maintain its primary manufacturing and distribution operations in Cranford, where it employs 158.
Tuesday, May 30 2017
Princeton, NJ -- Evotec AG, a global drug discovery alliance and development partnership company headquartered in Hamburg, Germany, celebrated the opening of its U.S. headquarters and expanded facility in Princeton, New Jersey.
Werner Lanthaler, Chief Executive Officer of Evotec AG and Ryan Brady, the company’s Executive Vice President Business Development and Head of U.S. Operations were joined by Michele Brown, President and CEO of Choose New Jersey, Inc. and Debbie Hart, President and CEO of BioNJ to cut the ribbon for the new U.S. headquarters. Invited guests representing the biopharmaceutical and business community also were on hand to celebrate the headquarters opening and Princeton facility expansion.
Monday, February 27 2017
Princeton, NJ — Flatev, a startup company that plans to revolutionize the way consumers prepare a wide variety of flatbreads will be establishing its first worldwide manufacturing operation at the Rutgers Food Innovation Center business incubator facility in Bridgeton, NJ. The company, headquartered in Zurich, Switzerland, met with officials from Choose New Jersey, Inc., the Rutgers Food Innovation Center, and other business leaders, and demonstrated their Flatev Artisan Baking System. The system gives consumers the ability to produce freshly baked, tasty, and nutritious artisanal flatbreads with the push of a button.
Monday, August 22 2016
Trenton, NJ -- Founded in a New Jersey basement 17 years ago, family-owned and operated Adagio Teas has continued to expand, increasing its footprint into a 40,000-square-foot commercial facility and growing its workforce from a staff of three to 50. When the company wanted to upgrade its manufacturing capabilities and create operational efficiencies, it turned to the Small Business Fund, a program of the New Jersey Economic Development Authority (EDA) that offers qualified businesses direct loans or participations and guarantees of commercial bank loans.
Elmwood Park-based Adagio Teas, which manufactures and sells gourmet teas and tea-making accessories, began largely as an online tea company in 1999. Today, the company offers a range of products, including the IngenuiTEA, AnTEAdote and realiTEA teabags.
Thursday, July 21 2016
225 employees to be located in new corporate headquarters by end of 2016
Trenton, NJ -- World Business Lenders (WBL), a provider of short-term business loans, celebrated the new location of its corporate headquarters in Jersey City with a ribbon cutting ceremony. The company’s new 35,040-square-foot offices at 101 Hudson Street will be home to 225 employees by the end of the year.
WBL’s decision to locate in New Jersey was supported by a Grow New Jersey (Grow NJ) award approved by the New Jersey Economic Development Authority (EDA) in February. Grow NJ tax credits of up to $16.8 million over ten years encouraged the company to choose to locate in Jersey City rather than a competing location in Queens, New York. The project is expected to have a net benefit to the State of more than $85 million over 20 years.
Wednesday, July 20 2016
Trenton, NJ -- Stressing the importance of keeping critical infrastructures operational during natural disasters, the Board of the New Jersey Economic Development Authority (EDA) today awarded preliminary approval for the funding of two projects under the Energy Resilience Bank (ERB). One project is a combined heat and power (CHP) system at Cooper University Hospital (CUH) and the other is a resiliency project at the Bergen County Utilities Authority (BCUA), which provides wastewater treatment and solid waste management for more than 500,000 people.
Tuesday, June 14 2016
Vineland, NJ -- The New Jersey Economic Development Authority (EDA) recently voted to approve a 10-year, $8.3 million Grow NJ award for Corning Pharmaceutical Glass LLC located in Vineland, New Jersey. The EDA administers the legislatively-created Grow NJ program, the primary program for job creation under the Economic Opportunity Act (EOA) of 2013.
Corning Pharmaceutical Glass is a world-leading supplier of high-quality glass tubing to the pharmaceutical packaging industry. The company manufactures a variety of clear and amber borosilicate glass tubing, which is converted by their global customers into vials, cartridges, ampules, and syringes for drug storage and delivery. The Grow NJ award will encourage Corning to invest in Vineland, where it employs 185 full-time positions, and will yield a net benefit of $20.4 million back to the state over a 20-year period.
Thursday, April 21 2016
Florence, NJ -- Invata Intralogistics, Inc., experts in the design, implementation, and support of advanced automation systems, announces the successful delivery of a new 406,000 square foot, omni-channel fulfillment center for Destination Maternity Corporation in Florence, NJ.
Destination Maternity is the world’s largest designer and retailer of maternity apparel. As of January, 2016, it operates 1,815 retail locations, including 536 retail locations under the trade names: Motherhood Maternity®, A Pea in the Pod®, and Destination Maternity®, and 1,279 apparel departments within retailers such as Macy’s®, Sears®, Buy Buy Baby®, Boscov’s®, and Century 21®. The Company also provides maternity apparel for Kohl’s Department Stores®. Destination Maternity’s inventory is also available for direct to consumer shipments on brand websites and other e-commerce sites.
The Invata designed, built, and controlled warehouse automation system handles all aspects of Destination Maternity’s retail distribution, wholesale distribution, e-commerce fulfillment, and reverse logistics processing (consolidations and returns) for the U.S. market and various international markets. This includes e-commerce business coming through some of its retail partners’ websites as well.
Monday, April 11 2016
Range of State Resources Help Businesses Thrive
Trenton, NJ -- As the New Jersey Economic Development Authority (EDA) continues its efforts to raise awareness of State resources available to small businesses and not-for-profit entities, organizations across New Jersey are realizing the benefits of EDA programs. Espinosa Beef and Provisions Inc. in Hudson County, C&A Marketing in Middlesex County, and Millville Rescue Squad in Cumberland County are all investing and expanding in New Jersey with support from these programs.
“It’s encouraging to see such a diverse group of businesses recognizing benefits of financing options offered by the State,” said EDA Chief Executive Officer Melissa Orsen. “Small businesses and not-for-profits create jobs and provide valuable resources to our residents and communities.”
Visit to Tri-Power Consulting in Morris County by EDA CEO Highlights State Resources for Small Businesses
Thursday, November 19 2015
Supports State’s Small Business Awareness Initiative
EDA President Visits Atlantic Highlands Carton Brewing to Showcase Benefits of State Small Business Financial Resources
Wednesday, October 21 2015
Drives New Small Business Awareness Initiative
Friday, October 16 2015
Trenton, NJ -- Continuing its commitment to drive job creation and private investment within New Jersey’s vibrant technology sector, the Board of the New Jersey Economic Development Authority (EDA) approved three technology-related projects under the Grow New Jersey (Grow NJ) Program. In total, the projects are expected to create more than 300 new jobs, retain more than 400 jobs at risk of leaving the State, and are associated with $14.9 million in private investment. Advanced under the New Jersey Economic Opportunity Act of 2013 (EOA), Grow NJ is the state’s main job creation incentive program.
Tuesday, August 11 2015
Trenton, NJ -- Continuing the state’s commitment to supporting the growth of the technology and life sciences industries, which are targeted for growth under the Economic Opportunity Act (EOA), the Board of the New Jersey Economic Development Authority (EDA) took action to approve Grow New Jersey (Grow NJ) tax credits for two Middlesex County projects.
With State Support, New Jersey Technology Company Works to Decrease Damage Resulting from Heart Attacks through Early Detection & Warning
Monday, June 01 2015
Trenton, NJ -- Angel Medical Systems in Shrewsbury realizes that many people do not recognize the symptoms of heart attacks or do not take the warning signs seriously enough. The growing technology company also knows that every minute counts when dealing with a heart attack. With these factors in mind, Angel Medical Systems developed an implantable device that monitors an individual’s heart, alerting to changes often seen before, or at the onset of, a heart attack. The company’s signature product, AngelMed Guardian® System, is designed to identify changes in the heart rhythm, alert patients to seek medical attention and store electrocardiogram (ECG) traces for later analysis.
“The device monitors your heart's electrical signal 24 hours a day, 7 days a week looking for changes that may indicate that your heart is not getting enough oxygen and that you might soon experience a heart attack,” Angel Medical Systems President and Chief Financial Officer Andrew Taylor explained. “The system may potentially detect heart attacks in high-risk patients who have no symptoms or have symptoms that are not typical.”
Thursday, May 14 2015
Princeton, NJ -- Choose New Jersey’s President & CEO Michele Brown has announced that Margie Piliere will join the organization as Chief Economic Development Officer. Piliere is currently the Director of Business Banking and Community Development at the New Jersey Economic Development Authority (EDA), which along with the Business Action Center and Office of Secretary of Higher Education, makes up the Partnership for Action. Piliere will join Choose New Jersey in early July.
Thursday, April 30 2015
Goya President Bob Unanue, Goya Executive VP Peter Unanue, New Jersey Governor Chris Christie, & Deputy Mayor Marcos Vigil To Celebrate at Ceremonial Ribbon Cutting
Jersey City, NJ -- Goya Foods, the largest Hispanic-owned food company in the United States, opens new state of the art and sustainable corporate headquarters in New Jersey as part of a $500 million global expansion over the past 10 years. The official ribbon cutting ceremony will be held on Wednesday, April 29, 2015 at 11:00 a.m. at 350 County Road in Jersey City. In honor of the opening, Goya will donate 20,000 pounds of food to five local food pantries, funds to The Golden Door Charter School in Jersey City to help construct a playground, and institute an annual $20,000 scholarship to The Hudson County Schools of Technology-County Prep High School Culinary Program.
EDA Announces Launch of New Executive-in-Research Residence Program at its Life Sciences Incubator in North Brunswick
Monday, February 23 2015
Trenton, NJ -- Tapping into New Jersey’s vast life sciences ecosystem, the New Jersey Economic Development Authority (EDA) unveiled an Executive-in-Residence program that will connect the State’s broad pool of life science talent with promising companies located at the EDA’s Commercialization Center for Innovative Technologies (CCIT) in North Brunswick.