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EDA awards nearly $220M in tax incentives to Ralph Lauren, Quest Diagnostics, others

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Mega projects for Ralph Lauren, Quest Diagnostics and LabCorp were approved to receive tax incentives from the NJ Economic Development Authority awarded during its meeting this month.

All in all, the EDA awarded roughly $220 million in total tax incentives to nine companies this month as part of its Grow New Jersey tax incentive program. While much of that money will be awarded over the next decade, the total amount is far higher than what is usually awarded in most months by the EDA. Much of those incentives, however, are going to companies either seeking to move into, consolidate or relocate within the state.

Mars Wrigley Confectionery is considering creating a new, 110,000-square-foot regional hub in Newark and expanding its center in Hackettstown to 500,000 square feet if it chooses to move ahead with the project. The Newark location is expected to cost $25 million while the Hackettstown expansion is expected to cost $15 million. The two projects could create as many as 130 new jobs in the state.

The former 116-acre Hoffman LaRoche campus, now called On3, could be getting two big, new tenants: Quest Diagnostics, one of the country’s largest providers of medical diagnostic testing, and high-end clothing retailer Ralph Lauren, are both considering a move to the location.

Quest is considering moving into a 257,000-square-foot facility the On3 site and received an estimated annual award of $5.5 million over 10 years through Grow NJ, plus $5.9 million in sales and use tax exemptions. The new facility is expected to cost $106.5 million.

A Quest spokesperson told NJBIZ in an email that, “Our flagship laboratory facility in New Jersey is over 40 years old. The current lab serves six states, populated by over 40 million people and home to some of the most advanced health care delivery systems in the world. We have applied for NJ Economic Development Authority financial incentives. We are exploring options to purchase land to build a state of the art flagship laboratory in Clifton, N.J. We expect this new flagship laboratory would be fully operational in 2021. No final decisions or agreements have been made.”

As was first reported by NJBIZ, Ralph Lauren was approved for a project of 255,000 square feet that will create 250 new jobs. The company received an estimated annual award of $3.3 million Grow New Jersey award for a development eligible for bonus tax credit award for a vacant commercial building in Nutley in excess of 1 million square feet.

The awards

Lonza America
Service: Biopharmaceutical
Location: Morris Township
Estimated Annual Award: $4 million annually over 10 years through Grow NJ

LabCorp America
Service: Biotech/life sciences
Location: Nutley/Clifton
Estimated Annual Award: $4 million annually over 10 years through Grow NJ
Notable: Will build a new facility in Raritan

Mars Wrigley Confectionery 
Service: Food manufacturing
Location: Chicago
Estimated Annual Award: is $3.15 million annually over 10 years through Grow NJ
Notable: Would create a new, 110,000-square-foot facility in Newark

Mars Wrigley Confectionery
Service: Food manufacturing
Location: Chicago
Estimated Annual Award: $115,000 annually over 10 years through Grow NJ
Notable: Would make capital investment in the 500,000-square-feet facility in Hackettstown

Quest Diagnostics 
Service: Biotech/life sciences 
Location: Clifton
Estimated Annual Award: $5.52 million over 10 years through Grow NJ; $5.86 million in Sales and Use Tax Exemption
Notable: Will build a new 257,000–square-foot space on the On3 facility (the former Hoffman LaRoche campus). The new facility is expected to cost $106.5 million

Ralph Lauren Corp.
Service: High end clothing manufacturer
Location: New York City
Estimated Annual Award: $3.3 million over 10 years through Grow NJ.
Notable: Would create 250 new jobs in a 255,000–square-foot space in (the former Hoffman LaRoche campus).

Corporate Synergies Group
Service: Insurance broker
Location: New York City
Estimated Annual Award: $1.56 million annually over 10 years through Grow NJ
Notable: Will relocate to Camden, a designated Garden State Growth Zone

Konica Minolta Business Solutions
Service: Customized glass products manufacturer
US Headquarters: Foster City, California
Estimated Annual Award: $2.94 million over 10 years through Grow NJ

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Vince Calio

Vince Calio


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

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