The New Jersey Economic Development Authority approved a
$40 million tax incentive package for Cooper Health System Tuesday.
Cooper said the tax credits, which will be spread out
over 10 years, will allow it to move about 350 administrative jobs now located
in Cherry Hill and Mount Laurel, N.J. back to its main campus in
economically-distressed Camden.
Cooper applied for the tax credits under the Grow New
Jersey Assistance Program, which was established two years ago to spur economic
development and job growth in struggling urban areas of the state.
A health system spokeswoman said the incentives will also
allow Cooper to add an unspecified number of new employees over time as it
continues to expand services in the city.
The NJEDA also approved $118 million in tax incentives
for Subaru of America, which said last week it is moving its headquarters to
Camden from Cherry Hill.
Source: Philadelphia
Business Journal
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