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Tuesday, August 9, 2016

Financial Services Company Could Locate in Newark



Newark, New Jersey: An international financial services corporation could open a facility in Newark.

According to the agenda for this morning's meeting of the New Jersey Economic Development Authority in Trenton, Broadridge Financial Solutions has applied "for a Grow New Jersey Assistance Program Grant to encourage the applicant to make a capital investment and locate in Newark". 

The agenda states that the estimated award is $2,340,849 per year for 10 years. It is reportedly eligible for bonus increase in tax credits for locating in a deep poverty pocket, a transit oriented development, offering jobs with a salary in excess of the Essex County average, and having a large number of new and retained jobs. 

Broadridge claims to be "a leading global provider of technology solutions to the financial services industry" whose "systems and services include investor communication solutions, and securities processing and operations outsourcing solutions". 

The company's global headquarters are in suburban Nassau County, New York on Long Island, though there are offices in Jersey City and Secaucus in Hudson County. Until 2007, it was part of ADP, which is based in Roseland. 

It is not clear where Broadbridge is planning to locate in Newark, and what kind of facility the company is planning has not been revealed. Linda Namias, the Senior Director of Corporate Communications at Broadridge, told Essex County Place that she cannot comment at this time.

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