Firm seeks $260M in incentives for Camden project - New York News

Firm seeks $260M in incentives for Camden project

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TRENTON, N.J. (AP) - A southern New Jersey company that makes components for power plants is seeking a $260 million 10-year New Jersey tax break to do business in Camden.

The state Economic Development Authority's agenda for Thursday includes the application from Marton-based Holtec International. The company did not immediately return a call.

If approved, it would be the third-largest business tax incentive ever granted by New Jersey, trailing only the American Dream development in East Rutherford and Revel Casino Hotel in Atlantic City.

Holtec, whose board of directors includes political powerbroker George Norcross, would be the second firm to take advantage of special incentives passed last year for development in Camden.

To receive the tax break the company is seeking, it would have to have at least 250 jobs in the city.

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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