WASHINGTON — A nail salon in New Jersey will receive $20 million in tax credits as part of a deal to bring jobs to the state.
The state has been one of the fastest-growing states in the country in recent years and has seen a surge in demand for salon jobs, with an estimated 3.6 million jobs available in the state over the past three years.
But some of the jobs, such as those at the salon, have been difficult to fill, said Jim Pankow, director of economic development for the state’s economic development agency.
In addition, there’s been a glut of jobs in some areas of the state and New Jersey is now looking for new employers, he said.
“It’s not a question of people leaving,” Panko said.
“It’s a question now of, what do you do with the people who are there?”
That is the challenge we face right now, and that is the opportunity we have,” he added.
The tax incentives package approved Thursday by the state Assembly will help pay for construction of a new salon in Westmoreland, as well as additional services to support the new facility.
The state is also providing $2.5 million in grants to the new salon and a new office building in Edison, which will house the salon’s sales and marketing operations.
Panko estimated that $1.5 billion would be needed to build the new state-of-the-art salon, with the other $300 million in state aid.
The $200 million in federal funds is to be split between the salon and the state government.
The new salon will be located at the intersection of Westmorelands Street and Waugh Street in Edison.