$4.5M in tax credits for Secaucus move
NJ.COM (December 12, 2015) - A New York company was awarded $4.5 million in New Jersey state tax credits to move its headquarters to Secaucus, state officials said.
ACME Cosmetic Components, which produces metal components for cosmetic packaging, will receive up to $4.5 million in Grow NJ tax credits over 10 years when it moves from its current Queens location, New Jersey Economic Development Authority officials said.
The move is expected to bring 60 new jobs "and hopefully more" to Secaucus, said ACME Cosmetic Components CEO Mike Roughton. He said he expected his company to be in its new home at 80 Seaview Drive by July 4.
ACME's grant was one of three approved this week by the NJEDA.
"Projects advanced by the (NJEDA) board today will add to the traction (that) has helped to create in targeted industries," said EDA Chief Executive Officer Melissa Orsen. "As projects approved earlier ... begin to hit milestones such as groundbreakings and ribbon cuttings, these new approvals will continue that momentum."
Barry Callebaut USA, a chocolate products manufacturer, was awarded up to $2.7 million in tax credits over 10 years when it expands in Pennsauken, where it is expected to create 26 new jobs by producing a new product line at a second facility.
Also, MAC Trailer Leasing may move to Newark, retaining 35 jobs in the state and creating 25 new jobs that would otherwise have gone to Pearl River, N.Y. MAC was awarded Grow NJ tax credits of up to $2.89 million over 10 years to remain in New Jersey.