Company getting $260M tax credit breaking ground in Camden
Gov. Chris Christie and Camden Mayor Dana Redd greet Krishna Singh, president of Holtech, who says he will bring jobs to Camden in exchange for up to $260 million in tax incentives. (Emma Lee/WHYY)
A company that is in line for up one of the biggest tax-credit incentives ever in New Jersey for moving to Camden is celebrating its groundbreaking there.
Nuclear power plant components company Holtec International could get up to $260 million in tax credits over 10 years by meeting its requirements, including bringing 295 jobs to the facility.
The company says it intends to bring around 3,000 jobs to Camden eventually, many of them in manufacturing — something that could be a boon for a city that’s among the nation’s most impoverished.
But officials say the deal with structured with a lower number partly so the company could qualify sooner for tax credits.
Holtec now has its headquarters in nearby Evesham.
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