Tax Deal Pending To Lure Subaru Headquarters to Camden, NJ, From Cherry Hill

By David Madden

CAMDEN, N.J. (CBS) — Look for an announcement next week that could put another major business in the city of Camden, NJ.

Several sources say they expect New Jersey’s Economic Development Authority to approve a ten-year tax credit plan to get carmaker Subaru of America to move its corporate headquarters from Cherry Hill to Camden.

The company has been looking to combine its Cherry Hill offices and another facility in Pennsauken into a single, larger headquarters location.

Assuming the state panel approves the move, it could bring as many as 500 additional jobs to Camden.

The authority’s next meeting is next week in Trenton, and those sources expect the Subaru relocation deal to be on the agenda.