- The New Jersey Economic Development Authority approved a $253 million tax break to spur the development of a massive recycling complex in Camden. The tax break was the second-largest approved for a Camden project, as officials try to develop the impoverished port city.
- The EDA reported that the recycling complex, proposed by Camden Iron and Metal, would create 285 jobs, persevere 156 existing positions, and bring 62 existing jobs from Bellmawr into the city.
- The project will build almost 700,000 square feet of new construction. The Courier Post reported that it will be completed by September 2018.
Despite Camden's notorious history of being an underdeveloped, neglected city, companies and state officials are making strong efforts to create an eco-friendly atmosphere in the area. EMR Eastern, Camden Iron's parent company, is ramping up sustainability efforts by proposing a "recovery, reuse and recycling campus" in the Camden area. The plans call for seven new building, including a corporate headquarters and MRF.
The EDA says the EMR project will produce a benefit of $17 million over a 35-year time period in Camden.The EDA has now approved more than $1 billion in tax breaks for Camden-based projects.