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NJEDA CEO Tim Sullivan gives testimony during a meeting of the Senate Select Committee on Economic Growth Strategies on July 29, 2019.

Economic experts cast doubt on effectiveness of NJ corporate tax breaks

“There is no evidence the number of economic tax incentives bear any relation to the broader performance of a state’s economy,” Jackson Brainerd, fiscal affairs policy specialist for the National Conference of State Legislatures, said during testimony at Thursday's Senate committee meeting on the state's economic growth strategies. “And there is quite a bit of evidence that tax incentives often fail to achieve their stated goals and can have a negative impact on a state’s fiscal health.”

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