Subsidy Tracker Individual Entry

Company: 
The Michaels Organization, LLC
Parent Company: 
Subsidy Source: 
state
Location: 
New Jersey
City: 
Camden
County: 
Camden
Project Description: 

Consolidation, relocation and expansion

Year: 
2017
Subsidy Value: 
$79,378,750
Program Name: 
Grow New Jersey Assistance Program
Awarding Agency: 
New Jersey Economic Development Authority
Type of Subsidy: 
MEGADEAL
Number of Jobs or Training Slots: 
275
Wage Data: 
$73,202
Wage Data Type: 
median annual wage
Capital Investment: 
$79,380,000
Source of Data: 

The value of the award is reflected in the New Jersey Economic Development Authority agenda from March 24, 2017, available at: http://www.njeda.com/pdfs/agendas/03242017_agenda.aspx#page=42.

Notes: 

The company was approved for $79 million over 10 years to move to an office tower at the Camden?s Waterfront. The subsidy will come from the state's Grow New Jersey Assistance Program, a corporate business tax credit. The jobs number includes 87 new jobs and 188 relocated jobs from Marlton. See related 2017 megadeal entries for the same office tower for Conner Strong and NFI. Overlaps with main Subsidy Tracker data: a 2017 Grow New Jersey Assistance Program entry for the company for $79 million.

Source Notes: 
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