The Chamber's Economic Development Committee has begun an effort to help grow and diversify the area economy.
As part of that effort, the Chamber proposed expansion of an existing tax incentive program to benefit Atlantic City and Atlantic County.
State Senate Bill S2872 was introduced in January 2017 and expands the NJEDA administered Grow NJ program to include the area around the FAA Tech Center and Atlantic City Airport in Atlantic County.The bill also increases the incentives currently available to Atlantic City as well as three other urban centers (Trenton, Passaic and Paterson).
Did You Know?
- Casino competition has shown the need for diversification of our regional economy.
- Unemployment and foreclosures remain among the highest nationally and statewide.
- Independent economic studies indicate aviation related industries should be encouraged and developed.
- Aviation related assets at the FAA Tech Center and AC Airport can foster training, technology and service-related growth industries.
- Higher Ed Technology programs coupled with EDA incentives would create incubators for growth.
- With the Stockton Aviation Research Technology Park construction underway, these incentives will serve to attract new companies to our region, provide employment and expand the economy of the region.