Firm May Get $260 Million in Tax Credits to Move to Camden
A New Jersey energy firm could get $260 million in tax credits for argeeing to move some of its operations to Camden. The application from Holtec International, which is currently based elsewhere in South Jersey, was made public in an agenda for a Thursday meeting of the state’s Economic Development Authority.
Holtec International makes components for power plants. Its founder and CEO is Krishna P. Singh, who has a building named after him at Penn. He has a doctorate in engineering (Penngineering) from the school.
Holtec says it plans to make an announcement after the Thursday meeting, where the EDA will vote on whether to approve the tax credits. New Jersey recently also gave the Sixers $82 million in tax credits for a new practice facility along the Camden waterfront.