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New Jersey awards Marcal Paper $25M tax break to head off chance new owner would relocate to South Carolina; firm to invest $47M

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New Jersey awards Marcal Paper $25M tax break to head off chance new owner would relocate to South Carolina; firm to invest $47M

May 08, 2012 - 12:10
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HACKENSACK, NJ, May 8, 2012 (Local News) -New Jersey awarded a $25 million tax break to the former Marcal Paper company of Elmwood Park Tuesday, heading off the chance that the manufacturer's new owner would move the business to South Carolina.

Soundview Paper LLC, which bought struggling Marcal April 21, said in its grant application to the New Jersey Economic Development Authority that it was considering whether to move the 80-year-old manufacturing and recycling business to a "lower cost" location, taking at least 509 jobs with it.

Instead, the company said, it will now stay in New Jersey and spend $47 million to upgrade the Elmwood Park factory.

The Record - Elmwood Park's Marcal won't move South

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