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EDA Tax Breaks Now Top $1B

EDA Tax Breaks Now Top $1B

A state authority on Thursday approved a $253 million tax break intended to spur development of  a massive recycling complex in the city's port district. The Economic Development Authority also supported smaller tax breaks for two proposed projects in Gloucester County.

The tax break for the recycling project was the second-largest approved for a Camden project under a controversial state law intended to steer jobs to the impoverished city. Overall, the EDA now has approved $1.1 billion in tax breaks for Camden-based ventures.

The recycling project, proposed by the parent firm of Camden Iron and Metal, would create 285 jobs and bring 62 existing jobs to the city, according to the EDA. It also would preserve 156 existing positions, the authority said.

Continue reading at the Courier-Post

TAGS: Business
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