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Unilever Gets $40M Tax Break Award

ENGLEWOOD CLIFFS, NJ-Unilever would get a $40 million ten-year tax incentive to stay in its facility here, and renovate it. Also, Jimmy's Cookies and a Chinese apparel maker would get tax breaks to open facilities in Clifton.

By Antoinette Martin | Updated on May 19, 2014

ENGLEWOOD CLIFFS, NJ−In a slightly more “modest” tax-incentive compared to others approved by the Economic Development Authority last week, Unilever would get $40 million over ten years if it retains its operations here and keeps 1,600 jobs in the state.

The EDA board also approved a $244 million ten-year tax break for JP Morgan Chase if it creates a regional technology and operating hub in Jersey City, and $78 million to a Canadian financial firm if it takes  space at the Goldman Sachs tower in Jersey City when its leases in Manhattan expire. See previous story here.

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