Quest Keeping Headquarters in New Jersey After Tax Credits
MADISON, N.J. (AP) — Quest Diagnostics says it will keep its headquarters in New Jersey after receiving more than $18 million in tax credits from the state. Quest will move from Madison into a new headquarters in Secaucus next September. The medical testing company employs more than 2,300 people through the state. The state Economic Development Authority last month approved an estimated annual $1.86 million tax credit spread over 10 years. The company says it reviewed incentives from other states before deciding to stay in New Jersey. Lt. Gov. Kim Guadagno says in a statement that it's an example of how New Jersey's economic climate gives businesses the opportunity to expand.