NJCC Borrower Receives the Leading Economic Development Partnership Award at the 2018 Governor's Conference for Kearny Point Project

New Brunswick, NJ // October 15, 2018 - This month, the 2018 Governor’s Conference on Housing and Economic Development selected Hugo Neu Corporation, a New Jersey Community Capital borrower, as the recipient of the Leading Economic Development Partnership Award for its Kearny Point project. The redevelopment project is transforming 130 acres of an obsolete, underutilized industrial park into 2 million square feet of new or redeveloped flex, light industrial, office and studio spaces along with almost 25 acres of new public open space.  NJCC is providing $5,000,000 in New Markets Tax Credits to finance approximately 197,000 square feet of high quality affordable production and light manufacturing spaces in an amenity-rich environment not typically available to small businesses.

Presented by the State of New Jersey’s Department of Community Affairs, the award recognizes a project that “promotes economic growth through local job creation, private investment and the catalytic impact of additional development.” Goldman Sachs Urban Investment Group, Town of Kearny, and Hudson County were also recognized for their role in this project.

New Jersey Community Capital is proud to support the work of Hugo Neu Corporation, helping to provide resources and space for small businesses and entrepreneurs to start, grow, and succeed.

Other awardees included the City of Trenton, a recipient of the Leading Housing Development Award and Middle Tree Home in Jackson, New Jersey, a recipient of the Leading Supportive Housing Development Award.