NJ Gets Aggressive With State Subsidies

Law360, New York (September 26, 2013, 4:49 PM EDT) -- After several months of negotiation among politicians and a conditional veto by the governor of an earlier version of the legislation, the New Jersey Economic Opportunity Act of 2013 was signed into law on Sept. 18, 2013. The comprehensive act is an aggressive push by the state to promote job creation and the redevelopment of urban centers, suburban office parks and areas impacted by Hurricane Sandy by expanding the various state programs that offer tax incentives.

The act proposes to merge five economic development incentive programs, including the Business Employment Incentive Program and Urban Transit Hub Tax Credit Program, into two...

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