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Economic Opportunity Act of 2013

 

The Economic Opportunity Act of 2013 (see accompanying Wall Street Journal article) was introduced earlier this month by Assemblyman Albert Coutinho (D-Essex), chair of the Economic and Commerce Development Committee. Today’s Star Ledger tells us that according to the sponsor, ”the emphasis is on job creation and less on capital improvement. The bill also phases out the Business Retention and Relocation Assistance Grant Program, the Business Employment Incentive Program and the Urban Transit Hub Tax Credit Program, and expands the Economic Redevelopment and Growth Grant (ERGG) program as the state’s sole redevelopment incentive and the Grow New Jersey Assistance Program as the state’s premiere business attraction and retention incentive.”

Also Read Tom De Poto’s article entitled Subsidies in Doubt . It points you to a new study by Good Jobs First, funded by foundations, that looks at interstate job movement, incentive programs in all states, and includes several corporations that have received large subsidies to stay in New Jersey



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