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Funding Power

It’s great to see that monies are going to suburban retail development again.

By Debra Hazel | Updated on March 27, 2012

Thanks, New Jersey Economic Development Authority!

Not long ago, I noted that while the New Jersey legislature is desperately trying to figure out a way to incentivize Amazon.com to locate a warehouse here, it would be really nice to give some help to brick-and-mortar retailers and sites, which employ many more people. According to several published reports, the EDA approved up to $11.4 million for the development of Gravelly Run Square, a $58 million, 270,000-square-foot shopping center in Hamilton Township. The center, to be built on vacant land by Benderson Development Co.’s Buffalo Pike Associates, could create as many as 310 full-time jobs and generate $2.9 million in local and state taxes.

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