L'Oreal strikes deal to occupy Route 1 building
BY JENNIFER AMATO Staff Writer

NORTH BRUNSWICK - The municipality has found a way to make up some tax revenues through a new business venture in town.

L'Oreal USA has completed a payment in lieu of taxes (PILOT) agreement to occupy a major research and development facility on Route 1 north by Milltown Road. The new 240,000-square-foot building will be constructed on the site, which is owned by the New Jersey Economic Development Authority (EDA). The revenue to the township is expected to be $840,000 each year.

"This is wonderful news for North Brunswick and for New Jersey because it affirms once again the importance of the Route 1 corridor between Princeton and North Brunswick, known as 'Einstein's Alley,' as a center for innovative research and development," Mayor Francis "Mac" Womack said. "I am pleased to express my support for this initial step in the process that is expected to bring nearly 400 research and development jobs and a major, new corporate presence to the campus of EDA's Technology Centre of New Jersey, one of EDA's innovation zones. I look forward to final action by L'Oreal USA and EDA on their lease negotiations in the near future."

Because the site is owned by EDA, which is an independent state agency, it is not subject to conventional property taxation. The L'Oreal agreement is similar to the tax agreement with the EDA for the Technology Centre of New Jersey on Route 1 south, which is located across the street from the site.

An ordinance to approve the agreement will be presented to the Township Council for first reading on Nov. 5.