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Here are the businesses offered millions for Camden move

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Since 2013, the New Jersey Economic Development Authority has offered more than $1 billion in fiscal incentives to companies in exchange for moving to Camden.

CAMDEN -- Massive trucks hauled scrap along well-worn roads in the city's industrial riverfront section. Downtown, helicopters buzzed off rooftops and motorists created considerable gridlock by midday. Elsewhere around various other corners of Camden, people simply went to work.

Under job retention programs such as Grow New Jersey and the perks of the 2013's Economic Opportunity Act, the New Jersey Economic Development Authority (NJEDA) has approved more than $1 billion in tax breaks since 2013 to companies in exchange for a relocation to Camden.

"Camden is in the midst of an inspiring renaissance," the NJEDA's Camden Economic Recovery Board states.

What cost does that renaissance come at, though?

From $260 million awarded to Holtec International to $3 million that was on the table to help Plastics International, data provided by New Jersey Policy Perspective shows a combined $1.1 billion approved from between 2013 to this year.


RELATED: The numbers behind NJEDA's tax credit awards

However, the awards carry many stipulations and aren't forked over in lump sums.

"While the board's approval represents the opportunity for a project to realize tax credits, companies and developers must then prove that they have satisfied specific legislative requirements before they receive any funds," NJEDA development authority board chair Al Koeppe wrote in an editorial published by NJ Advance Media.

"Since all of the programs were designed by the N.J. Legislature to be performance-based, this means that approved projects must first generate new tax revenue, complete capital investments and/or hire or retain employees to receive the approved benefits," Koeppe continued.

Below are the top tax break recipients to receive a fiscal incentive from the NJEDA. The fiscal data was provided by the New Jersey Policy Perspective, which has continued to criticize the awards and the overall estimated economic benefit to the state each project could bring.

- WebiMax LLC: Awarded $6,035,000 on Dec. 10, 2013. The online marketing company was promised tax incentives in exchange for moving from Mount Laurel to the Camden waterfront and creating 100 new positions.

- Philadelphia 76ers: Awarded $82,040,507 on June 10, 2014. The team announced plans to build a world-class practice facility and and officers and bring 250 jobs with them.

- Holtec International: Awarded $260,000,000 on July 10, 2014. Holtec has already broken ground on its nuclear power plant production facility along the Delaware River. The company hopes to create 3,000 jobs.

- Plastics Consulting: Awarded $3,920,000 on Sept. 11, 2014. The company was already located in Camden, but considered moving to Philadelphia after a fire damaged its facility. The company of about 20 employees remained in Camden and was to create eight new jobs.

- DioGenix Inc.: Awarded $7,455,000 on Nov. 10, 2014. The Maryland-based company would relocate and bring 71 jobs to the city.

- Lockheed Martin: Awarded $107,000,000 on Nov. 10, 2014. The defense contractor would move from Moorestown and bring approximately 250 jobs to Camden.

- Cooper Health: Awarded $39,990,000 on Dec. 9, 2014. After moving parts of the operation to other locations in Camden County, Cooper Health Systems agreed to move more than 300 positions back into downtown Camden at the L3 Communications building.

- Subaru: Awarded $117,832,868 on Dec. 9, 2014. Coming from Cherry Hill and bringing 500 jobs with them, Subaru would work with Campbell's Soup to become an anchor tenant of a corporate campus.

- Volunteers of America Delaware Valley: Awarded $6,337,500 on April 14, 2015. The non-profit organization planned to relocate from Collingswood and would bring about 60 jobs with it.

- Contemporary Graphics & Bindery: Awarded $33,900,000 on May 15, 2015. The company was enticed to move from Pennsauken and would eventually employ more than 50 Camden residents, according to city officials.

- American Water Works: Awarded $164,187,735 on June 9, 2015. The utility company headquartered in Voorhees would need to spend $164 million on offices in Camden, add 100 jobs and relocate almost 500 more from around South Jersey to the city to receive the award.

- Chef'd: Awarded $19,000,000 on Aug. 11, 2015. The California-based company would see a 10-year, $19 million award. The NJEDA estimates a $7.1 million benefit over 35 years and 200 new jobs.

- Great Socks: Awarded $15,000,000 on Aug. 11, 2015. The Texas-based company would generate nearly $836,000 in economic benefit over 35 years, according to the NJEDA, and create 33 new positions.

- EMR Eastern: Awarded $252,750,000 on Sept. 12, 2015. The global scrap recycling company already had an office in Bellmawr and operates Camden Iron & Metal.

Greg Adomaitis may be reached at gadomaitis@njadvancemedia.com. Follow him on Twitter @GregAdomaitis. Find the South Jersey Times on Facebook.

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