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The New York Times: In Camden, Development Projects Kindle Hope
Photo Credit: Ryan Collerd for The New York Times
CAMDEN, N.J. — In a city with a bleak history of crime and poverty, plans for real estate development suggest there is new hope for an economic revival, thanks in large part to tax credits from a state-run program.
In the last six months, six major development projects have been approved by the New Jersey Economic Development Authority for tax credits worth a total of $614 million, leading to the creation, retention or relocation of some 2,000 jobs in one of the country’s poorest cities.
The latest approvals, announced by the agency on Tuesday, are for $117.8 million in tax credits to Subaru of America to establish a new headquarters and training center in Camden, and for $39.9 million to Cooper Health, a health care provider already based in Camden, to consolidate its back-office operations, with the retention of some 350 jobs.
Read the entire article at http://www.nytimes.com/2014/12/10/realestate/commercial/in-camden-development-projects-kindle-hope.html?_r=0.