15 East Midland Ave. in Paramus
By Joshua Burd
A marketing firm based in Rockland County, New York, is weighing a move to Bergen County, where it would lease nearly 25,000 square feet in connection with an incentive package approved by the state Economic Development Authority.
The company, Creative Management Services LLC, told the EDA recently that it was considering the lease at 15 East Midland Ave. in Paramus. The firm is currently based in Chestnut Ridge, New York, just over the state line, but was eyeing the new U.S. headquarters location in New Jersey with a proposal to bring 75 new jobs.
To support the move, the EDA last week approved a 10-year, $2.25 million tax credit under the Grow New Jersey program. Creative Management Services told the authority it was also considering an alternate location in nearby Pearl River, New York.
The business, a subsidiary of MCH Group Ltd., specializes in design, production and management of integrated marketing programs, according to the EDA. Its services include designing, constructing, installing and storing trade shows materials and exhibits.
A move to Paramus would bring a net benefit to New Jersey of $14 million over 20 years, the EDA said at its monthly board meeting.
The authority last week also approved Grow New Jersey tax credits for two existing companies in Bergen County. The larger of the two, Cross River Bank, is currently based in Fort Lee and told the EDA it was considering a 36,447-square-foot space at 2115 Linwood Ave. in the borough.
In connection with the move, the EDA approved a 10-year, $10.9 million incentive for Cross River that would support the retention of 50 employees and the creation of 255 new positions. The move would equate to an estimated net benefit to the state of $69.4 million over the 20 years, the EDA said, although the firm was also considering a competing location in Orangeburg, New York.
In Hackensack, payment and billing service Novelpay LLC said it was considering a 22,458-square-foot space at 433 Hackensack Ave. To encourage the move, the agency approved a 10-year, $5.01 million tax credit that is also tied to the retention of 97 employees and the creation of 40 new positions.
The applicant, a subsidiary of RealPage Inc., offers integrated billing, payment processing and software services that provide multifamily and commercial real estate owners and managers with a customizable electronic solution, the EDA said. The company is currently based at the well-known Continental Plaza complex in Hackensack and needs additional space to accommodate its growth needs, but was also considering an alternate location in Richardson, Texas.