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Re: N.J. lost Amazon to Long Island City; can it win Gucci with $14.7M EDA incentive?

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N.J. lost Amazon to Long Island City; can it win Gucci with $14.7M EDA incentive?
By Anjalee Khemlani
Trenton | Dec 11, 2018 at 11:57 am
The New Jersey Economic Development Authority on Tuesday approved a $14.7 million Grow New Jersey grant over 10 years to entice luxury brand Gucci to open a central U.S. customer hub in Jersey City, rather than Long Island City, Queens.
The company currently has 25 jobs in Secaucus and many customer service jobs around the country.
The company wants to bring 210 jobs to the planned hub, according to the application.
It plans a $6.6 million capital investment for the proposed office space at 70 Hudson St. near the Exchange Place PATH station.
http://www.roi-nj.com/2018/12/11/poli ... with-14-7m-eda-incentive/

This is ridiculous... a $14.7 MM grant to have 210 jobs transferred here works out to 70K for each job. That seems outrageously high, and emblematic of the out-of-control spending perpetuated by the State of NJ.

Posted on: 2018/12/12 0:37

N.J. lost Amazon to Long Island City; can it win Gucci with $14.7M EDA incentive?

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N.J. lost Amazon to Long Island City; can it win Gucci with $14.7M EDA incentive?

By Anjalee Khemlani
Trenton | Dec 11, 2018 at 11:57 am

The New Jersey Economic Development Authority on Tuesday approved a $14.7 million Grow New Jersey grant over 10 years to entice luxury brand Gucci to open a central U.S. customer hub in Jersey City, rather than Long Island City, Queens.

The company currently has 25 jobs in Secaucus and many customer service jobs around the country.

The company wants to bring 210 jobs to the planned hub, according to the application.

It plans a $6.6 million capital investment for the proposed office space at 70 Hudson St. near the Exchange Place PATH station.

http://www.roi-nj.com/2018/12/11/poli ... with-14-7m-eda-incentive/

Posted on: 2018/12/11 18:40

Board index » Jersey City, NJ » Main Forum » N.J. lost Amazon to Long Island City; can it win Gucci with $14.7M EDA incentive?

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