Where will New Avon LLC go next?
The company is reportedly considering a move to either the borough of Brooklyn, New York, or across the Hudson to Jersey City, New Jersey. And each state has offered New Avon financial incentives to motivate a decision in its favor.
Earlier this week, New Jersey state officials let New Avon know that a $31.7m tax break (over 10 years) had been approved by the Economic Development Authority, according to an article Terrance T. McDonald published on nj.com.
New Avon has also apparently been offered "significant incentives" by New York State to choose a location for its new offices in Brooklyn.
The Brooklyn space under consideration is 123,600 square feet, while the Jersey City site is a bit smaller: 113,625 square feet. The New Jersey spot is at number 34 Exchange Place, according to nj.com.
The company hasn’t yet determined where it will be moving. A New Avon spokeswoman told The Jersey Journal that the Jersey City deal has not yet been finalized.
“As we pursue our goal to transform New Avon into the best social selling company in North America, we are reviewing all aspects of the business, including [a] real estate decision,” a spokeswoman tells McDonald. “Going forward, our plan is to be in the N.Y. metropolitan area, and we are currently exploring specific locations.”
Each state, of course, wants New Avon to choose its real estate and incentives to benefit the local economy. Reportedly, nearly 400 new jobs would come the community.
And, “the state Economic Development Authority says New Avon's relocation to New Jersey would have a net benefit to the state of $67.8 million over 20 years,” as McDonald reports.