NJEDA Continues Outreach to Grow NJ Recipients
TRENTON, N.J. (July 18, 2019) – The New Jersey Economic Development Authority (NJEDA) announced today that it has requested clarifying information from three additional companies across the state regarding their Grow New Jersey (Grow NJ) tax credits. This outreach follows a similar request sent to six companies in late June.
Letters were sent this week to GoBrands Inc. and Sandoz Inc., and NJEDA staff has reached out to Express Scripts Pharmacy Inc. to afford the companies the opportunity to respond to a range of questions, including discrepancies in their applications and related legal questionnaire. Letters may be sent to additional companies as needed.
Any significant change to a company's Grow NJ award, including a reduction in the amount of the award, a suspension, or termination may require an action of the NJEDA Board. This outreach is the first step in a process that will to allow NJEDA staff to make informed decisions, which may include recommendations to the Board for any potential actions, if warranted.
About the New Jersey Economic Development Authority
The New Jersey Economic Development Authority (NJEDA) serves as the State’s principal agency for driving economic growth. The NJEDA is committed to making New Jersey a national model for inclusive and sustainable economic development by focusing on key strategies to help build strong and dynamic communities, create good jobs for New Jersey residents, and provide pathways to a stronger and fairer economy. Through partnerships with a diverse range of stakeholders, the NJEDA creates and implements initiatives to enhance the economic vitality and quality of life in the State and strengthen New Jersey’s long-term economic competitiveness.