Company: Sayreville Seaport Associates LP (majority-owned by Prudential) Parent Company: Prudential Financial Subsidy Source: state Location: New Jersey City: Sayreville County: Middlesex Project Description: retail and residential development Year: 2014 Major Industry of Parent: financial services Specific Industry of Parent: insurance Subsidy Value: $223,277,590 Program Name: Economic Redevelopment and Growth (ERG) Program Awarding Agency: New Jersey Economic Development Authority Type of Subsidy:
Number of Jobs or Training Slots: 3,900 Capital Investment: $1,168,623,000 Source of Data: The subsidy value and jobs and investment numbers were taken from New Jersey Economic Development Authority Approved ERG Projects document, updated on 5/20/2014 and available at: (click here). Sayreville Seaport Associates' application for the Economic Redevelopment and Growth (ERG) program is included in the New Jersey Economic Development Authority's Agenda for Board Meeting of the Authority May 16, 2014, p. 201-213; available at: (click here). For an investigative story on the connection between this subsidy award and political donations see: Jon Swaine, "Chris Christie backers awarded $223m tax break to build New Jersey mall," The Guardian, June 6, 2014; available online at: (click here) Notes: New Jersey Economic Development Authority awarded the developer $223.3 million, or about 20 percent of eligible costs, in reimbursement of various taxes. NJ EDA memorandum on the subsidy project indicates that Sayreville Seaport Associates is "undertaking a PILOT approval from the Borough of Sayreville"; however, no specific information on the PILOT has been reported. Overlaps with main Subsidy Tracker data: none. Source Notes: If an online information source is not working, check the Tracker inventory page for an updated link.