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Senate Committee Issues Recommendations for New Tax Incentive Program

18 May 2020 11:37 AM | Anonymous member (Administrator)

@NJBIA has summarized recent panel recommendations for @NJEDA economic incentives, including brownfields funding, with focus on how to manage caps on incentives and tax credits. @bobconsidine

By Bob Considine

A legislatively appointed panel charged with making recommendations on how New Jersey should structure its economic development incentives released its final report today amidst a stalemate between Gov. Phil Murphy and the Legislature.

The bipartisan Select Committee on Economic Growth Strategies, led by State Senators Senator Bob Smith and Joseph Pennacchio, made 25 recommendations to control the costs of the program, increase transparency, and improve the public benefit of incentives offered to businesses to create jobs and invest in New Jersey.

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