NEW YORK CITY-Lured by economic incentives from both the city and state, publisher Pearson will relocate employees from Saddle River, NJ and White Plains, NY to a renovated and expanded 330 Hudson St. The company will also create some jobs for a net influx of 600 jobs to the Hudson Square location.

Pearson, the UK publisher that owns and operates the Financial Times Group and the Penguin Group, was offered several incentives for the move. First off, Beacon Capital Partners, which acquired a 99-year land lease from Trinity Real Estate for the property in June of this year, will invest $113 million toward the renovation.

The New York City Economic Development Corp. also offered Pearson $4.5 million in Business Incentive Rate energy savings for the building and its other Hudson Square offices. Empire State Development then kicked in $9 million in Excelsior Jobs Program tax credits for the jobs that Pearson is moving from New Jersey. For its part, Pearson will invest $21 million for the renovation, which will include the addition of eight-stories at the now eight-story building.