S2872/A4510 UPDATE – LEGISLATION MOVES TO GOVERNOR’S DESK FOR SIGNATURE

S2872/A4510 UPDATE – LEGISLATION MOVES TO GOVERNOR’S DESK FOR SIGNATURE

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As you know for a year, the Greater Atlantic City Chamber has been working to expand a tax incentive program to benefit Atlantic City, Atlantic County, and other parts of the state.

As a result, State Senate Bill S2872 (Assembly version A4510) was introduced in January 2017 to expand the NJEDA-administered Grow NJ program to include the area around the FAA William J. Hughes Tech Center and Atlantic City Airport in Atlantic County.   The bill also increases and enhances the incentives currently available to Atlantic City as well as three other urban centers (Trenton, Passaic and Paterson), areas designated as Garden State Growth Zones.

Leadership from the Chamber was in Trenton on Monday, January 8, 2018 as the Assembly approved the legislation.  Prior to that, the Senate had approved.  The legislation is now on the governor’s desk for signature.

Through the collaborative partnership of both the private and public sector it appears the legislation is on its way to be approved.