Subsidy Tracker Individual Entry

Company: 
Holtec International
Parent Company: 
Holtec International
Subsidy Source: 
state
Location: 
New Jersey
City: 
Camden
County: 
Camden
Project Description: 

small nuclear reactors manufacturing facility

Year: 
2014
Major Industry of Parent: 
miscellaneous energy products and systems
Specific Industry of Parent: 
energy systems
Subsidy Value: 
$260,000,000
Program Name: 
Grow New Jersey Assistance Program
Awarding Agency: 
Economic Development Agency
Type of Subsidy: 
MEGADEAL
Number of Jobs or Training Slots: 
395
Capital Investment: 
$260,000,000
Source of Data: 

The subsidy package value, jobs and investment were taken from: "State OKs incentives for company to move jobs to Camden," NorthJersey.com, July 11, 2014. See also Geoff Mulvihill, ?Firm to get $260 million in aid to build plant in Camden," AP State and Local, July 10, 2014. The value of the award is also reflected in New Jersey Economic Development Authority agenda from July 10, 2014, available at: http://www.njeda.com/web/pdf/eda/agenda_07102014.pdf

Notes: 

The $260 million over 16 years will come from state's Grow New Jersey Assistance Program, a corporate business tax credit. The program incudes a Camden-specific provision which allows the amount of available subsidies to be equal to the investment. The jobs number includes 160 positions that will be moved from nearby Marlton, NJ and 235 new jobs. The company has to invest $260 million before it can claim the subsidy. Overlaps with main Subsidy Tracker data: a 2014 Grow New Jersey Assistance Program entry for the company for $260 million.

Source Notes: 
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