In case you needed more proof that Hudson County is becoming “the 6th borough,” the state Economic Development Authority has approved bringing 1,383 new jobs to Jersey City and Hoboken, with 1,271 positions being relocated from New York.
This will be done by doling out $100 million in tax credits for the participating companies, over the next 10 years. The seven companies are a mix of financial, marketing, governance and health companies.
For the specific companies, credits and job breakdowns, see below:
EY, formerly known as Ernst & Young, will bring 430 qualifying jobs to its new Hoboken facility. In order to qualify for the program, workers need to be in Hudson County at least 80% of the time. EY will also be moving between 1,000 and 1,300 more workers to its Hoboken building, but they will not qualify for this particular program, in which they will receive $39.78M.
Another financial company, Zurich American Insurance, a commercial property insurance provider, will be shifting 314 jobs from New York City as well as Melville, N.Y. to Downtown Jersey City, specifically Harborside Plaza 2. In return they will collect $28.26M.
Joining Zurich Insurance at Harborside Plaza 2 will be advertising and marketing giant, Omnicon Group. In receipt of $33.2M in credits, they will relocate 415 Manhattan workers to Jersey City.
RVM Enterprises is a provider of eDiscovery and consulting services to leading global corporations as well as offering client governance, internal investigations, litigation readiness, data analytics and forensic data collection. They will be bringing 112 jobs from their Rector Street address to offices on Washington Boulevard in Downtown Jersey City to a tune of $8.12M in tax credits.
Rounding out the last two are First Data Corporation and Clover Health. First Data will be creating 50 new jobs with their $4.25M for its third state EDA award in the last 3 years. They are a payment solutions company that provides merchant transaction processing services and will be found at 101 Hudson Street. Clover Health, a health insurance provider for seniors is also creating new positions as it expands. They will add 62 jobs in return for $6.25M and can be found on Montgomery Street.