Iconic New Jersey Company's New Facility Will Accommodate More Than 800 Employees
Trenton, NJ – Ten months after Burlington Coat Factory renewed its commitment to stay in New Jersey, Acting Governor Kim Guadagno today participated in the groundbreaking for the company’s new $41 million headquarters in Florence Township.
The new 215,000 square-foot building will accommodate more than 800 employees, including 120 new full-time employees, providing further evidence that economic growth initiatives of the Christie Administration are encouraging private investment and job creation in New Jersey. The new building is expected to open in the fall of 2014.
“Burlington Coat Factory has been a Garden State icon for many decades, creating jobs and economic opportunities for thousands of New Jerseyans and their families,” said Acting Governor Guadagno. “The New Jersey Partnership for Action, created under Governor Christie, has been instrumental in the retention and expansion of Burlington Coat Factory in New Jersey. Today’s groundbreaking is further proof that the Christie Administration’s economic growth policies are both keeping and creating jobs in New Jersey.”
Founded in 1972, Burlington Coat Factory has a multi-department retail chain with more than 500 stores in 44 states and Puerto Rico. Burlington offers ladies’ dresses, suits, sportswear, juniors, accessories, menswear, family footwear and children’s clothing, as well as an assortment of furniture and accessories for baby at Baby Depot, home décor and gifts, along with the largest selection of coats in the nation.
“This is an exciting day for Burlington Coat Factory. I would like to thank Governor Christie, Acting Governor Guadagno and the State of New Jersey for making it possible to maintain and grow our corporate headquarters within the state,” said Thomas Kingsbury, Burlington Coat Factory’s president and CEO.
The New Jersey Economic Development Authority last year approved a $40 million GrowNJ incentive for Burlington Coat Factory and a sales tax exemption on eligible expenses incurred at the project site.
Earlier this week the Acting Governor helped Thales Avionics Services Worldwide open its new state-of-the-art facility in Piscataway. Thales’ expansion in New Jersey means over 200 jobs will be created and retained in the state, including jobs the company is moving from Seattle to Piscataway.
The GrowNJ business incentive program, a Christie Administration initiative, duplicates and expands the success of existing incentive programs while embracing innovative ideas to spur job growth and economic expansion. Eligible businesses may receive an annual tax credit for ten years for each full-time job created or retained. A business is eligible for a GrowNJ tax credit if it retains 100 full-time jobs or creates at least 100 full-time jobs in an EDA-designated desirable industry and in addition to job creation/retention also makes a capital investment of at least $20 million in a qualified incentive area.
The New Jersey Partnership for Action supports the vital role business plays in advancing the state’s economy and creating jobs. Led by Lt. Governor Kim Guadagno, the PFA is public-private approach to economic development and the starting point for all initiatives, policies, and efforts to grow New Jersey’s economy and create quality, sustainable jobs in our communities. The four elements of the PFA include the Business Action Center, reporting directly to the Lt. Governor and providing the business community with a single point of contact, applying a proactive, customer-service approach to businesses’ interactions with State government; the Secretary of Higher Education, which coordinates, plans, develops policies, and advocates for the state's higher education system; the New Jersey Economic Development Authority, serving as the state’s bank; and Choose New Jersey, a privately funded marketing, business attraction and lead generation organization that markets the state as an ideal location.
Businesses considering a move or in need of assistance are encouraged to call New Jersey’s Business Action Center at (866) 534-7789 or visit the State’s Business Portal at www.newjerseybusiness.gov.
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