Newspaper article The Record (Bergen County, NJ)

N.J. Tries to Keep 347 Jobs in Teterboro

Newspaper article The Record (Bergen County, NJ)

N.J. Tries to Keep 347 Jobs in Teterboro

Article excerpt

New Jersey awarded a tax break of $10.2 million Friday in a bid to help keep 347 jobs at the Teterboro plant of a German producer of flavorings and fragrances, and bring in or retain another 177 jobs in Central Jersey.

The New Jersey Economic Development Authority, at its monthly meeting in Trenton, awarded the tax credits to Symrise Inc., for the Teterboro location and one in Branchburg.

The company is considering whether to expand and renovate the two facilities or relocate the operations there to an existing plant in South Carolina.

A cost analysis submitted to the EDA by the company "shows New Jersey to be the more expensive option," the agency said in a summary of the tax break proposal, which was endorsed at the meeting.

If the company accepts the tax break and decides to keep the operations in New Jersey, it would renovate its 190,225-square-foot building in Teterboro, where 347 workers are currently employed, and add another 127,755 square feet to the Branchburg facility, which currently has 117 employees, and would add another 60. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.