State tries to lure two businesses to Jersey City

JERSEY CITY — Two Jersey City projects will receive $22 million in incentives as a result of approvals by the Economic Development Authority, according to a report by NJ Biz magazine.
World Business Lenders LLC was approved for a 10-year, $16.8 million Grow New Jersey award to relocate its headquarters from Manhattan to Jersey City, bringing in about 225 full-time employees. If WBL relocated to Jersey City, the lending institution will take up residences in a 5,040-square-foot location on Hudson Street.
The state is expected to get about $85 million in tax revenues from the move over 20 years.
The other company, W&W Jewelers could get a 10-year, $5.4 million Grow New Jersey award, if it relocates to Journal Square. If it does move to Jersey City, it would bring 45 new full time jobs and bring to the state about $4.2 million over 20 years.

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