Following approval of Grow New Jersey (Grow NJ) tax credits by the New Jersey Economic Development Authority (EDA) Board, Nuts.com announced its decision to expand its presence in New Jersey by opening a state-of-the-art corporate office in Jersey City, where it plans to create more than 150 new jobs.
Advanced under the New Jersey Economic Opportunity Act (EOA), Grow NJ is the State’s main job creation and retention incentive program. The approval of Grow NJ tax credits for Nuts.com was based solely on creation of new jobs in New Jersey that would otherwise be created outside of the State. The company will also maintain its primary manufacturing and distribution operations in Cranford, where it employs 158.
“I am happy to announce, with support through the Grow NJ Program, Nuts.com will move forward with our expansion in the State,” said Nuts.com Chief Executive Officer (CEO) Jeffrey Braverman. “My grandfather established this company in New Jersey 88 years ago, and we’re excited to continue his legacy and execute on our vision of offering the highest-quality product, with excellent customer service and dynamic employment opportunities.”
In 1929, entrepreneur Sol Braverman founded the Newark Nut Company, which sold nuts and dried fruit in an open-air market. Seventy years later, his grandson Jeffrey took the helm of the business as its CEO, renamed the company NutsOnline – which was rebranded as Nuts.com in 2012, and transformed it into the top online destination for the highest-quality nuts, dried fruit, snacks, and pantry staples.
Since 2003, Nuts.com has grown from four employees and offering roughly 100 items to employing nearly 180 individuals nationally and carrying approximately 4,000 products. The company conducts much of its business online, as well as from stands throughout the tristate area, including Newark Penn Station. Due to its rapid growth, the company has been exploring options to expand beyond its current operations in Cranford.
Following the approval of Grow NJ tax credits today, Nuts.com announced it will lease a 24,000-square-foot space in Jersey City, where it will invest millions to create a hi-tech workspace to house its marketing, creative and sales teams, keeping the family-owned business close to its roots in New Jersey.
Braverman envisions the new facility to be a best-in-class technology center including such features as a living “green” wall, meditation area, and modern commercial kitchen to double as an event space.
“We applaud Nuts.com’s commitment to investing and growing in the State,” EDA CEO Melissa Orsen said. “The Braverman family represents a longstanding New Jersey small business success story, and the new, skilled jobs the company will create will add to its legacy of job creation and community engagement.”
Orsen noted that New Jersey’s food and agriculture industry is estimated to produce $105 billion in revenues annually. The State is home to more than 1,900 food manufacturing companies employing approximately 31,000 people, according to a Rutgers University study. These numbers do not include the State’s thousands of food-distribution centers, retailers, and farms.
The EDA is part of the State’s results-driven Partnership for Action. Created by Governor Chris Christie and led by Lt. Governor Kim Guadagno, the Partnership is the hub for all economic development activity in New Jersey and is comprised of four interconnected and highly focused organizational elements: Choose New Jersey, The Business Action Center, the Office of the Secretary of Higher Education and the EDA.
EDA Board meetings are typically held at 10 a.m. on the second Tuesday of each month at 36 West State Street in Trenton. The Board meeting schedule, as well as Board agendas and minutes, are available at www.njeda.com. All Board actions will take effect at the expiration of the statutory period for the Governor’s review and consideration of the meeting minutes.Related Articles: