Jobs Coming to Ports in Camden, Paulsboro

From the Courier-Post, July 14, 2014:

Two economic-development projects will bring more than 1,200 jobs to ports in Camden and Paulsboro, officials said Monday.

Holtec International, an Evesham-based energy firm, is formally accepting $260 million in state aid for a factory in Camden’s port district, according to a statement from Gov. Chris Christie’s office. The complex will support almost 400 jobs, and is intended to serve as a “training academy” for unemployed Camden residents and veterans.

New Jersey has given larger incentives than Holtec’s to only two other projects, both struggling. The state announced a $390-million incentive package last year for the American Dream complex in East Rutherford and a $261-million package for Atlantic City’s now-bankrupt Revel casino hotel in 2011.

Critics contend the aid packages are unproven and oversized.

“There’s no evidence that tax breaks will grow a state’s economy,” Gordon MacInnes, president of New Jersey Policy Perspective, said after the EDA approved aid for Holtec.

MacInnes, who called for a limit on such aid, asserted Holtec’s project would include 160 jobs already in New Jersey and 235 new positions at a “sky-high” cost to taxpayers of $658,228 per job.