Holtec International will formally break ground next Wednesday on a new 600,000-square-foot technology center in Camden.
Holtec, a nuclear power plant supplier based in Evesham Township, received $260 million in state tax credits for the project, according to the Courier-Post. The complex, which includes a manufacturing facility and engineering building, is expected to be built in the city's port district and completed by the end of 2017.
New Jersey officials estimate the project will bring the Garden State a net benefit of $155,520 over a 35-year period, according to the Philadelphia Business Journal. Holtec was one of 10 companies the New Jersey Economic Development Authority awarded tax credits to locate or grow in Camden. The tax credits, awarded last July, are spread out over 10 years.