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Audible's $39.3 million award is one of 10 given out by EDA today

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Audible Inc. was approved for a 10-year, $39.3 million Grow N.J. award.
Audible Inc. was approved for a 10-year, $39.3 million Grow N.J. award. - ()

Audible Inc., the Newark-based provider of spoken audio information and entertainment, received approval Friday from the Economic Development Authority for a 10-year, $39.3 million Grow New Jersey award to create a new technology center in the city.

The project, which would house the Amazon subsidiary’s engineering and development hub, would be located on James Street, just a short walk away from its Washington Street headquarters. The company is said to also be considering an alternative location in Cambridge, Mass.

According to the EDA, the project would help retain 50 jobs currently based in New Jersey and create an additional 350. Over a 20-year period, the EDA estimates the project would yield a net benefit of $103.4 million back to the state.

The EDA also voted to approve a 10-year, $33.9 million Grow New Jersey award for Pennsauken-based packaging and design company Contemporary Graphics and Bindery Inc. to relocate to a 124,700-square-foot facility in Camden as opposed to a similar site in Philadelphia.

The project would retain 170 jobs currently based in-state and create an additional 56 positions, according to the EDA. Over a 35-period, the EDA estimates the project will yield a net benefit of $58.9 million back to the state.

Other incentives approved Friday include:

  • A 10-year, $9.6 million Grow New Jersey award for Moorestown-based CareKinesis to expand there as opposed to relocating to Philadelphia. According to the EDA, the project would create 191 new full-time jobs and retain another 74 while yielding an estimated net benefit of $78.4 million back to the state over 20 years.
  • Fidelity Global Brokerage Group was approved for a 10-year, $16.5 million Grow New Jersey award to locate a new facility with 200 new full-time in Jersey City as opposed to another site in Kentucky. The project would carry a net benefit back to the state of roughly $211 million over 20 years, according to the EDA.
  • French household appliance manufacturer Groupe SEB USA was approved for a 10-year, $1.9 million Grow New Jersey award to expand and stay in Parsippany as opposed to relocating its North American headquarters to Pearl River, N.Y. The project would retain 77 jobs and create an additional 13 positions. The EDA estimates a net benefit back to the state of $29.4 million over 20 years.
  • California-based Impax Laboratories was approved for a 10-year, $2.7 million Grow New Jersey award to upgrade and renovate existing manufacturing and administrative sites in Middlesex and Somerset counties as opposed to utilizing locations in Pennsylvania, California and Taiwan. Across the several New Jersey locations, the project would retain 241 jobs and create 50 more positions. The estimated net benefit back to the state over 20 years is $108.5 million, according to the EDA.
  • Tax preparation services company Jackson Hewitt was approved for a 10-year, $2.6 million Grow New Jersey award to consolidate some of its operations in Jersey City or look to multiple sites in Manhattan and Sarasota, Fla. The project would retain 69 in-state jobs and yield an estimated net benefit of $24.5 million back to the state over 20 years.
  • Medidata Solutions Inc. was approved for a 10-year $7.5 million Grow New Jersey award to expand its presence in Edison to a larger site in Woodbridge as opposed to moving to Las Vegas. The project would call for the creation of 150 new jobs and the EDA estimates its net benefit to be $52.8 million back to the state over 20 years.
  • Northeast Precast, which currently maintains locations in Millville and Salisbury, N.C., was approved for a 10-year, $8.1 million Grow New Jersey award to expand in New Jersey as opposed to North Carolina. The project is said to create 53 new jobs and retain another 87 positions. The EDA estimates its net benefit back to the state over 20 years to be $11.5 million.
  • Lakewood based Rubbercycle was approved for a 10-year, $2.4 million Grow New Jersey award to expand in its location as opposed to relocating to Wallkill, N.Y. The project is said to create 15 new jobs and retain another 25 positions. Over a 20-year period, the EDA estimates the project will yield a net benefit of $6.4 million back to the state.
  • The EDA also approved a $3.3 million Economic Redevelopment and Growth award to 7 Long Street Doddtown LLC for the renovation of a residential apartment complex project in East Orange.

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Andrew George

Andrew George


Andrew George covers the Statehouse from NJBIZ's Trenton bureau. Born and raised in N.J., Andrew has also spent time as a reporter in D.C., Texas and Pa. His email is andrewg@njbiz.com.

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