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MOONACHIE, N.J. — Russo Development has broken ground the for the construction of the new Macy's Parade Studio. The building is located on 7.4 acres at 140 State St. in Moonachie. Macy's will occupy the space and use it for the design and construction of balloons and floats to be used during the Macy's Thanksgiving Day Parade. Completion is slated for August 2011.