Family-Owned Manufacturer Considers Expansion in Vineland with EDA Support
Company’s New Northeast Presence Would Result in More Than 220 New Jobs
TRENTON, N.J. (December 12, 2017) – Family-owned Pero Family Farms Food Company has been providing major food retailers in the Northeast with products since 1986. Grow New Jersey (Grow NJ) tax credits approved today by the Board of the New Jersey Economic Development Authority (EDA) will help to encourage the produce grower, packager, and distributor to locate its new Northeast food processing plant in Vineland rather than a comparable facility in East Hempfield, Pennsylvania. Grow NJ is the primary program for job creation and retention under the Economic Opportunity Act (EOA.)
“Vineland offers many distinct logistical advantages, including access to New York and New Jersey Ports, and the New Jersey and Pennsylvania Turnpikes,” said EDA CEO Melissa Orsen. “Cumberland County is emerging as a hub for companies of all sizes and industries that recognize the benefits of a South Jersey presence.”
If Pero chooses the Vineland location, it will invest approximately $13.4 million in a 118,400-square-foot facility, where it expects to hire 222 employees.
“We are excited at the prospect of building Pero’s presence in the Northeast, and see Vineland as a strategic point for meeting the growing demand for our products, “ said Pero President and Chief Operating Officer Frank Pero. “We appreciate the EDA Board’s approval of Grow NJ tax credits, as they would help to offset the costs associated with doing business in this desirable location.”
Under Grow NJ, Pero is eligible for a bonus for being in manufacturing, one of nine industries targeted for growth under Grow NJ. Others include transportation, defense, energy, logistics, life sciences, technology, health, and finance. In addition to being eligible for a bonus of $500 per job, per year, businesses in targeted industries also benefit from reduced employment requirements, with manufacturing and tech startups having the lowest minimum threshold of 10 new or 25 retained jobs. To date, more than 64 percent of approved tax credits are for companies in a targeted industry.
EDA Board meetings are typically held at 10 a.m. on the second Tuesday of each month at 36 West State Street in Trenton. The Board meeting schedule, as well as Board agendas and minutes, are available at www.njeda.gov. All Board actions will take effect at the expiration of the statutory period for the Governor’s review and consideration of the meeting minutes.
To learn more about EDA resources, including loans and tax-exempt bonds, call 609-858-6767, visit www.njeda.gov and follow @NJEDAWasHere on Twitter and LinkedIn.