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NJ gives firm $6M tax credit to move one floor

JERSEY CITY (AP) — New Jersey is giving an Atlanta-based company $6 million in tax credits to move its rented office space up one floor in a Jersey City high-rise.

101 Hudson Street in Jersey City
101 Hudson Street in Jersey City (Google Street View)

Payment processing firm First Data has offices in New York and recently rented space for 26 employees on the 39th floor of 101 Hudson Street.

The Jersey Journal reports the state Economic Development Authority approved the tax credit over 20 years, saying First Data was considering a move to Atlanta. The EDA says the expansion to the entire 40th floor will result in 74 new jobs.

In a statement, Mayor Steve Fulop praised the EDA’s decision, saying state officials are helping to bring more businesses to his city.

(Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed)

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