Caren FranziniChief Executive Officer

March 14, 2012

Making New Jersey a Home for Growth

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Making New Jersey a Home for GrowthGovernor Chris Christie’s Economic Development Initiatives

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Partnership for Action

Lt. Governor Kim Guadagno

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Economic Growth “Tool Kit”

• Economic Redevelopment and Growth (ERG) Program

• Urban Transit Hub Tax Credit (UTHTC) Program

• Business Employment Incentive Program (BEIP)

• Business Retention and Relocation Assistance Grant (BRRAG)

• Energy Efficiency Revolving Loan Fund

Development Focus

Employment Focus

Clean Energy Solutions

Revel Atlantic City• The $2 billion Revel Atlantic City project involves the creation of an entertainment resort on 20 acres of beachfront property in the South Inlet of Atlantic City.

• The project will serve to revitalize the Inlet neighborhood with new streets, parks and boardwalk, and result in the creation of 5,500 new permanent jobs. In the month of January alone, there were as many as 1,600 men and women working at the construction site.

• Revel was approved for up to $261.3 million over 20 years through ERG.

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Saker ShopRite

• The $326 million Gateway Transit Village redevelopment is advancing at three different sites in New Brunswick, leading to the development of a full-service supermarket - the city’s first in two decades, a new fitness and wellness center, office space, residential units, destination retail and the creation of 450 permanent jobs and 3,000 construction jobs. Approved for up to $76.6 million through Hub.

• A new, world class Shop Rite opened in Somerville last October, marking the Borough’s first supermarket in five years. The $28.1 million, 70,000-square-foot development also is the cornerstone of the community’s larger redevelopment plan. The project created 200 construction jobs, and 235 new permanent jobs have been created to date. Approved for up to $5 million over 20 years through ERG.

Gateway Transit Village

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• Wakefern Food Corp. and the Newark Farmers Market are advancing a $65 million redevelopment project in Newark that involves the construction of 260,000 square feet of warehouse space. The new distribution facility for Wakefern is expected to create over 280 new jobs at full build-out. The project is supporting an estimated 550 construction jobs. Approved for a total of up to $45 million.

• Panasonic will be moving to a new, $126 million state-of-the-art facility in Newark being constructed by Matrix Development Group and SJP Properties. The structure will be home to 1,000 of the corporation’s employees and contractors, beginning in 2013. The project supports an estimated 940 construction jobs. Approved for up to $102.4 million.

Wakefern Food Corp. Panasonic

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Watson Pharmaceuticals

• Bayer Healthcare recently announced that they have selected the former Alcatel- Lucent campus in Hanover as the site for a new corporate campus, a decision that will keep 1,000 jobs in New Jersey, move 300 jobs here from out of state, and result in the creation of 200 new jobs.  Bayer was among the first businesses to utilize the expanded BRRAG and was also approved for a BEIP.

• Global pharmaceutical company Watson Pharmaceuticals plans to remain and grow in Morris County with the help of BEIP and BRRAG. The company is investing an estimated $15 million to establish new administrative headquarters in Parsippany that involves the retention of over 200 jobs and the creation of 175 new jobs.

Bayer Healthcare

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Energy Efficiency Revolving Loan Fund• New Jersey-based commercial, institutional or industrial entities that have received an approved Energy Reduction Plan under the BPU’s Pay for Performance program can apply for a low-interest loan up to a maximum of 80 percent of total eligible project costs, not to exceed $2.5 million.

• The supplemental financing must be used for whole-building energy efficiency improvements, and projects must meet the requirements defined under Pay for Performance.

• Applicants must have an energy reduction plan that defines a comprehensive package of measures capable of reducing energy consumption by 15 percent or more or achieving energy costs 15 percent below the current energy code.

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Choose New Jersey(609) 297-2200

www.ChooseNJ.com

New Jersey Business Action Center(866) 534-7789

www.NewJerseyBusiness.gov

New Jersey Economic Development Authority(609) 292-1800www.njeda.com

Contact the Partnership for Action: