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Caren Franzini Chief Executive Officer

Making New Jersey a Home for Growth. March 14, 2012. Caren Franzini Chief Executive Officer. Making New Jersey a Home for Growth Governor Chris Christie’s Economic Development Initiatives. Partnership for Action. Lt. Governor Kim Guadagno. 3. Economic Growth “Tool Kit”.

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Caren Franzini Chief Executive Officer

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  1. Making New Jersey a Home for Growth March 14, 2012 Caren FranziniChief Executive Officer

  2. Making New Jersey a Home for Growth Governor Chris Christie’s Economic Development Initiatives

  3. Partnership for Action Lt. Governor Kim Guadagno 3

  4. Economic Growth “Tool Kit” Development Focus • Economic Redevelopment and Growth (ERG) Program • Urban Transit Hub Tax Credit (UTHTC) Program • Business Employment Incentive Program (BEIP) • Business Retention and Relocation Assistance Grant (BRRAG) • Energy Efficiency Revolving Loan Fund Employment Focus Clean Energy Solutions

  5. Revel Atlantic City • The $2 billion Revel Atlantic City project • involves the creation of an entertainment • resort on 20 acres of beachfront property in • the South Inlet of Atlantic City. • The project will serve to revitalize the Inlet • neighborhood with new streets, parks and • boardwalk, and result in the creation of • 5,500 new permanent jobs. In the month of • January alone, there were as many as • 1,600 men and women working at the • construction site. • Revel was approved for up to $261.3 • million over 20 years through ERG. 5

  6. Gateway Transit Village Saker ShopRite • The $326 million Gateway Transit Village redevelopment is advancing at three • different sites in New Brunswick, leading to the development of a full-service • supermarket - the city’s first in two decades, a new fitness and wellness center, • office space, residential units, destination retail and the creation of 450 permanent • jobs and 3,000 construction jobs. Approved for up to $76.6 million through Hub. • A new, world class Shop Rite opened in Somerville last October, marking the • Borough’s first supermarket in five years. The $28.1 million, 70,000-square-foot • development also is the cornerstone of the community’s larger redevelopment plan. • The project created 200 construction jobs, and 235 new permanent jobs have been • created to date. Approved for up to $5 million over 20 years through ERG. 6

  7. Wakefern Food Corp. Panasonic • Wakefern Food Corp.and the Newark Farmers Market are advancing a $65 million • redevelopment project in Newark that involves the construction of 260,000 square feet of • warehouse space. The new distribution facility for Wakefern is expected to create over • 280 new jobs at full build-out. The project is supporting an estimated 550 construction • jobs. Approved for a total of up to $45 million. • Panasonic will be moving to a new, $126 million state-of-the-art facility in Newark being • constructed by Matrix Development Group and SJP Properties. The structure will be • home to 1,000 of the corporation’s employees and contractors, beginning in 2013. The • project supports an estimated 940 construction jobs. Approved for up to $102.4 million.

  8. Bayer Healthcare Watson Pharmaceuticals • Bayer Healthcare recently announced that they have selected the former Alcatel- • Lucent campus in Hanover as the site for a new corporate campus, a decision that • will keep 1,000 jobs in New Jersey, move 300 jobs here from out of state, and result • in the creation of 200 new jobs.  Bayer was among the first businesses to utilize the • expanded BRRAG and was also approved for a BEIP. • Global pharmaceutical company Watson Pharmaceuticals plans to remain and • grow in Morris County with the help of BEIP and BRRAG. The company is investing • an estimated $15 million to establish new administrative headquarters in Parsippany • that involves the retention of over 200 jobs and the creation of 175 new jobs. 8

  9. Energy Efficiency Revolving Loan Fund • New Jersey-based commercial, institutional or industrial entities that have • received an approved Energy Reduction Plan under the BPU’s Pay for • Performance program can apply for a low-interest loan up to a maximum of • 80 percent of total eligible project costs, not to exceed $2.5 million. • The supplemental financing must be used for whole-building energy • efficiency improvements, and projects must meet the requirements defined • under Pay for Performance. • Applicants must have an energy reduction plan that defines a • comprehensive package of measures capable of reducing energy • consumption by 15 percent or more or achieving energy costs 15 percent • below the current energy code.

  10. Contact the Partnership for Action: • Choose New Jersey • (609) 297-2200www.ChooseNJ.com • New Jersey Business Action Center • (866) 534-7789 • www.NewJerseyBusiness.gov • New Jersey Economic Development Authority • (609) 292-1800www.njeda.com

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