Holtec May Receive $260 Million Tax Credit to Open Camden Operations

The New Jersey Economic Development Authority plans to vote on a proposal today that would give a $260 million dollar tax credit over ten years to Holtec International Inc. to locate some of its operation in Camden, N.J. The details of the plan are not known at this time, but both Holtec and the NJEDA said more details would be released following the meeting, scheduled for 10 a.m. The news of the proposal became public when the NJEDA included it on its agenda for today’s meeting. Holtec has two U.S. corporate bases—one in Marlton, N.J., a 20 minute drive from Camden, and another in Jupiter, Fla. The NJEDA is operating under the New Jersey Economic Opportunity Act of 2013, a law passed to incentivize and attrack companies to New Jersey to encourage job growth. The program has already had 31 projects approved under the Grow NJ Program for a total award amount of more than $325 million.