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EDA grants $15.4 million to trio of companies

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A Brooklyn-based online food company, Gourmet Nut, was granted $1.2 million in tax incentives over 10 years by the state’s Economic Development Authority.

The online food distributor is considering a 61,950-square-foot facility in Perth Amboy as it looks to increase cost-effectiveness and expand into different retail channels. The move is expected to create 110 new jobs, and Gourmet Nut will invest $6.4 million in the state. The company is a competitor of Nuts.com, which announced in July that it would create a new facility in Jersey City. Gourmet Nuts is also considering a location in Allentown, Pennsylvania.

All in all, the EDA granted a total of $15.4 million in tax incentives through its Grow NJ program, which is up for renewal next year by the new state governor.

The awards

Company: Gourmet Nut
Service: Online gourmet food distributor
Location: Brooklyn
Award: $1.2 million over 10 years Grow NJ
Benefit: $63 million to the state over 10 years
Notable: Would create 110 new jobs

Company: Schuster Meat
Service: Produces and distributes specialized meat products
Location: Bronx
Award: 10-year, $25.8 million Grow NJ
Benefit: $8.9 million to the state over 10 years
Notable: Would create 40 new jobs

Company: Elite Decor
Service: Custom window treatment manufacturer
Location: Brooklyn
Award: $7.3 million over 10 years
Benefit: $24 million to the state over 10 years
Notable: New, 78,000-square-foot space in Passaic County would create over 100 new jobs

“New Jersey has a long, rich history in the food industry and is home to many leading food companies,” EDA CEO Melissa Orsen said during the monthly meeting. “The state holds a special appeal for food manufacturers based on its logistical advantages and highly-skilled labor pool.”

The EDA also approved $300,000 in annual tax incentives to Schuster Meat to move from the Bronx to a 53,000-square-foot facility in Lodi in Bergen County. The move is expected to result in the creation of 40 new jobs and the investment of $8.9 million in the state.

Elite Decor, a custom window treatment manufacturer in Brooklyn, was awarded $700,300 in annual tax incentives if it decides to purchase a 78,000-square-foot facility in Passaic County. The move is expected to result in the creation of more than 100 new jobs and a $2 million investment in the state by Elite Decor.

EDA officials would not provide any further comment on its expected announcement yesterday that the New Jersey Partnership for Action has made a specific proposal to lure Amazon’s $5 billion HQ2 facility to New Jersey.

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Vince Calio

Vince Calio


Vince Calio covers health care and manufacturing for NJBIZ. You can contact him at vcalio@njbiz.com.

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