New Jersey’s wind port project in Salem County continues to move forward. The New Jersey Economic Development Authority is now looking for a tenant for a 70-acre parcel on the site, and is seeking offers from wind component manufacturers. The CEO of the NJEDA, Tim Sullivan, expects there will be significant interest from manufacturers. The state is trying to make the wind port a hub for offshore wind projects in New Jersey and the entire East Coast. The wind port has already created construction jobs – and once component manufacturers are in place – more opportunities will follow, according to Sullivan.
Amazon has more warehouse space than it needs in New Jersey and elsewhere and is now looking to sublet some of it. That’s according to a report in Bloomberg, which says the e-commerce company has excess capacity now that online buying has eased from the height of the pandemic. The report says Amazon has about 10 million square-feet of extra space. Meantime, Amazon is preparing to open its first Amazon Fresh grocery store in New Jersey. The company announced it plans to hire hundreds of positions for the new Paramus store and will hold a hiring event early next month.
While online purchases have slowed at Amazon — other retailers are also seeing changes in consumer spending. Target recently said as inflation rises, shoppers are spending more on food and other essentials and less on big-ticket items. Walmart also reported its shoppers are being more cost-conscious.
Finally, in another sign of a tight labor market, Bank of America is raising its minimum wage to $22 an hour.
