TRENTON – The Economic Development Authority approved several applications Thursday for grants under the Business Employment Improvement Program and the Business Retention And Relocation Assistant Grant programs.
The successful applications included a pharmacy company, a health foods company and others.
Here is a rundown:
C&S Grocers: The EDA awarded both a BEIP and BRRAG to C&S Wholesale Grocers Inc. The grants will help it remain in New Jersey, specifically at a 46,500-square-foot facility at 160 Fieldcrest Ave. in Edison. The other option was relocating to Staten Island.
To help it stay in New Jersey, the EDA awarded a 10-year $330,090 BEIP grant to help it retain 88 employees. The average wage of a worker is some $77,168.
In addition, the EDA awarded a one-year, $198,000 BRRAG grant to help it create 25 additional jobs.
*CVS Pharmacy: The EDA awarded the pharmacy giant a $5.9 million BEIP grant to help it build a new operations facility in Florham Park in Morris County.
The move will enable CVS to create 250 high-paying jobs, mostly in management and information technology.
The company was also considering relocations to Richardson, Texas and Scottsdale, Ariz. However, the BEIP grant would make it very likely the operations center would be set up here.
David Yurman, a jewelry designer, is looking to set up a logistics and information technology center, either in Lyndhurst, Bergen County, or in Philadelphia. It’s looking to move from its Manhattan facility as part of a cost-saving move.
The move would create 120 jobs.
The BEIP of 10 years has a value of $630,000.