The announcement that Forbes Media will bring 350 jobs to New Jersey by the end of the year was met with much fanfare in Jersey City Monday.
"The Forbes announcement bringing 350 jobs to our city on the very same day we broke ground for the tallest residential tower in the history of New Jersey speaks to the great things happening in Jersey City and helps toward our goal to lead the state in private and construction job creation," Mayor Steven Fulop said in a statement.
The company, which publishes Forbes magazine, will be located in the Newport section of Jersey City.
Forbes was given $27 million in tax incentives over 10 years to complete the move. The incentives are contigent upon the creation of 350 jobs.
The announcement followed the groundbreaking of The Harborside apartment building, which will be 69 stories tall with 763 units. The building is a joint project between Mack-Cali and Ironstate Development.