EDA approves $36M grant for Siemans Healthcare Diagnostics

TRENTON – The Economic Development Authority unanimously approved a $10-year, $36 million GROW NJ grant for Siemans Healthcare Diagnostics on Tuesday morning.

The company would use the grant to renovate its facility in Mount Olive and build another 140,000-facility on the property.

Siemans stated it expects to create 525 jobs.

Tim Lizura, president of the EDA, said the authority did an extensive review of an international corruption kickback scandal Siemans was involved in several years ago, and determined there were enough mitigating factors since then to allow Siemans to be eligible for the grant.

“Staff has performed a review of this action with guidance from the Attorney General’s Office,” Lizura wrote in an EDA memo. “Staff has weighed the seriousness of the offenses in conjunction with the mitigating factors presented by Siemens and staff does not believe disqualification is warranted.”

In December 2008, Siemans paid approximately $450 million to the Securities and Exchange Commission for various corruption charges, mostly stemmed from the company’s international affiliates in countries like Argentina, Bangladash, among others.

EDA approves $36M grant for Siemans Healthcare Diagnostics