Burlington Coat Factory to stay in New Jersey

To avoid Burlington Coat Factory reallocating its headquarters out of Burlington County, the New Jersey Economic Development Authority has approved giving the Burlington Coat Factory more than $41 million in tax credits over the next 10 years. The company plans to use the credit as capital to build an 180,000-square-foot corporate headquarters on 50 acres of undeveloped land in Florence that would accommodate 626 existing jobs and an additional 120 full-time positions. In return for the tax credits, the Burlington Coat Factory will agree to keep its corporate headquarters in New Jersey for 15 years rather than move to