Wednesday, July 16, 2014

One South Jersey project follows another another

Gov. Christie (left) and Senate President Stephen Sweeney speak about the Holtec deal in Camden, which leads to  a new marine terminal in Paulsboro finally being completed. (Tom Gralish – Inquirer Photo)

The Philadelphia Inquirer reports today that:

The $260 million tax incentive that lured a power-plant supplier to Camden's waterfront is sending a ripple effect down the Delaware River.
Officials on Monday confirmed that Holtec International, now based in Evesham, will build its manufacturing plant at the Port of Camden's Broadway Terminal - sparking another company now working there to partner with a long-anticipated port in Paulsboro.
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Holt Logistics has struck an agreement with the South Jersey Port Corp. (SJPC) to become the operator of the Port of Paulsboro, also called the Paulsboro Marine Terminal. SJPC, which oversees the Camden terminal, had asked Holt to vacate some of its space on Pier 5 to make room for Holtec's 600,000-square-foot development.
The state Economic Development Authority approved the tax credits, among the largest of awards given in the state, to Holtec on Thursday, the same day SJPC directors accepted the Paulsboro deal.

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