The Economic Development Authority voted Tuesday to approve a 10-year, $22.8 million Grow New Jersey award for Quality Packaging Specialists International, a product and retail packaging services provider, to expand its operations in New Jersey.
Quality is seeking to construct a 377,440-square-foot facility in Florence Township that would house 170 full-time positions currently in-state and 220 new full-time positions. The company is also considering a 361,665-square-foot space in Bethlehem, Pennsylvania as an alternative to staying in New Jersey.
The EDA estimates that the project would yield a net benefit of $19.5 million back to the state over a 30-year period.
Also receiving approval for a relatively large incentive was Mallinckrodt Enterprises, a subsidiary of the global pharmaceutical company, Mallinckrodt Pharmaceuticals, with a 10-year, $20.4 million Grow New Jersey award to relocate 143-New Jersey based jobs to a facility in Warren Township as opposed to King of Prussia, Pennsylvania.
The project would also bring in 337 additional full-time positions currently located out-of-state. The EDA estimates the project would yield a net benefit back to the state of $176.9 million back to the state over 20 years.
Bayada Home Health Care, a privately-held company which provides in-home nursing services, received approval for a 10-year, $18.4 million Grow New Jersey award to go ahead with a consolidation project in Pennsauken as opposed to Philadelphia.
The project aims to retain and consolidate 357 New Jersey-based positions from Moorestown, Wenonah, Burlington and Mount Laurel. Another 48 Pennsylvania-based posts would be included in the consolidation process.
If located in Pennsauken, a total of 162 new full-time positions would be added. According to the EDA, the project would yield a net benefit of $86.1 million back to the state over a 20-year period.
Source : njbiz.com