The state's Economic Development Authority approved a tax incentive to New Avon LLC (Yes but very much the old Avon calling company) who are currently considering a site in Brooklyn to move to along with a spot at Exchange Place:
State officials are hoping New Avon LLC moves to a 113,625-square-foot office at 34 Exchange Pl. The state Economic Development Authority, which approved the tax break this morning, says the move would add 396 new full-time jobs.
The EDA says the state incentive, awarded as part of the Grow New Jersey Assistance Program, is necessary to make Jersey City a "more attractive location" for New Avon, which is also considering a 123,600-square-foot facility in Brooklyn. New York has offered "significant incentives" to lure New Avon to Brooklyn, according to the EDA.
Johnny likes THESE kind of incentives and abatements. State given, well thought out and the money is used to sweeten the pot at the correct time rather than making blank checks available. Smart move. Here's hoping New Avon becomes a new resident and partner with Jersey City. Love to have them!
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