By Joshua Burd in Real Estate NJ
The state has approved its first two awards under the new Emerge program, prompting one observer to note that the Economic Development Authority is “open for business” more than two years after the lapse of the jobs-based Grow New Jersey tax incentive.
That may be true, but industry experts caution that New Jersey may not see a flurry of new applications under Emerge and, in turn, a spike in large office deals in the immediate months ahead. State officials agree, as they manage a program that was designed to be more discerning than its predecessor and address concerns about ballooning subsidies of the past.
Posted November 5, 2021