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During a July 6 signing ceremony at the EEW AOS manufacturing plant in Paulsboro, Gov. Phil Murphy signed a trio of recently passed bills that he and lawmakers say will generate good-paying union jobs while accelerating growth in sectors such as offshore wind, film and television production, and residential and commercial real estate.

“We’re here today to sign not one, not two, but three major laws that will provide a significant and long-lasting boost to our 21st-century economy,” said Murphy at the outset of his remarks. “At the risk of sounding a bit boastful, this is a monumental day for our state because we are creating the jobs of the future right now.”

The three measures include:

• Assembly Bill 5651/Senate Bill 4019 – Enables New Jersey’s first offshore wind project, Ørsted’s Ocean Wind 1, to access federal tax credits and commit to supporting the state’s growing offshore wind supply chain; the legislation narrowly passed and drew intense opposition from critics of the developing energy sector.
• Assembly Bill 5393/Senate Bill 3748 – Appropriates $30 million to bolster the state’s film and digital media tax credit program.
• Assembly Bill 5644/Senate Bill 4023 – Makes critical changes to the Aspire Program, which brings new residential and commercial developments to under-resourced communities by helping finance projects that are otherwise not economically feasible for developers.

“I know we that we are covering a lot of ground today, and each of these bills is significant in its own right,” said Murphy. “But I do not want folks to lose sight of the bigger picture. There is a cumulative effect here where one plus one equals three — meaning the sum is greater than each of the parts.

“Together, these bills put New Jersey at the forefront of the 21st-century economy. They create a steady pipeline of good jobs and opportunities well into the future. But, perhaps more importantly, they help build an economy that works for all of us. That is at the heart of our nation’s promise, where everyone has the chance to achieve their dreams through hard work.”

“Under Gov. Murphy’s leadership, New Jersey has made major investments to build and attract new, diverse, and innovative sectors to help create a stronger, more resilient economy,” said Tim Sullivan, chief executive officer, New Jersey Economic Development Authority (NJEDA). “With the stroke of a pen today, Gov. Murphy is reaffirming his commitment to create good-paying jobs, revitalizing communities, and improving New Jersey’s environment. I thank Gov. Murphy, as well as the Legislature, for passing these critical bills, which will allow the NJEDA to continue developing these industries and move our economy forward.”

Preserving the edge

The measure that provides federal tax credits to Ørsted via the Inflation Reduction Act (IRA) drew particular blowback from critics of offshore wind, including a number of Republican lawmakers, community activists, and other stakeholders who are calling for a pause of sector activity amid a rash of marine mammal deaths.

Just a day earlier, Ocean Wind 1 received a key federal approval that moved construction for the project a step closer to reality.

“Democrats like Gov. Murphy who often complain about corporate welfare had absolutely no problem giving $1 billion to a foreign wind farm developer at the expense of New Jersey ratepayers,” said Sen. Michael Testa, R-1st District, in a statement Thursday. “Other wind farm developers are already lining up at the trough of big government begging for their own bailouts, which Gov. Murphy is likely to give them. It’s more proof that wind power doesn’t make economic sense without massive government subsidies.”

However, Democratic lawmakers had a much different tune about the legislation.

“There is endless potential for creating good, family-wage jobs with clean energy projects in New Jersey. We have the greatest workforce in America,” said Sen. Bob Smith, D-17th District, chair of the Senate Environment Committee, and a prime bill sponsor of the offshore wind measure. “With this law, we are sending a strong message to those employers who want to invest in New Jersey that we are committed to being a leader in offshore wind and the global clean energy economy.”

“It is appropriate that Gov. Murphy chose to sign the tax credit bill at the EEW AOS plant in Paulsboro because investments like this ensure that offshore wind farms up and down the Atlantic Seaboard will be built with components manufactured by New Jersey workers and shipped out of New Jersey ports,” said former Senate President Steve Sweeney, who chairs the advisory board for the Sweeney Center for Public Policy at Rowan University, and was a sponsor of the state’s first offshore wind tax credit law in 2010. “Both the administration and the Legislature worked hard over the past five years to put New Jersey in the forefront of offshore wind manufacturing, supply chains and development. This legislation preserves our edge in the increasing competition with New York, Maryland and other states for offshore wind jobs.”

The bill package was applauded by business groups and labor leaders throughout the state.

“The signing of these economic growth bills, which were supported by the New Jersey Chamber of Commerce, sends a message to the rest of the country that New Jersey’s leaders are supportive of burgeoning industries such as offshore wind and film/digital media, and will work with companies seeking to create jobs and facilities benefiting our economy and residents,” said Tom Bracken, president and CEO of the New Jersey Chamber of Commerce, in a statement.

Bracken said that the state Chamber thanks all those involved in the legislation for paving the way to a strong future by making the Garden State more attractive to innovative businesses looking to invest in and call New Jersey home.

“In addition, the modification to the New Jersey Economic Development Authority’s ASPIRE program will expand eligibility to commercial and residential developers looking to build key projects such as transit villages, affordable housing units and commercial buildings in areas of need,” Bracken added. “This will encourage more transformative real estate investments in New Jersey that will benefit residents and workers living in our towns and cities. Several New Jersey Chamber of Commerce members who have expertise in economic development recommended the positive changes reflected in this legislation which was then enacted by the NJEDA Board of Directors.”

“We applaud Gov. Murphy and the New Jersey Legislature for continuing to prioritize the generation of family-sustaining jobs in emerging sectors,” said Greg Lalevee, business manager, International Union of Operating Engineers (IUOE) Local 825.

“When future generations look back on this pivotal moment in our state’s history, we will be judged not only by our long-term economic vision for the Next New Jersey, but by the concrete steps we took to create good-paying jobs for workers here and now,” said Murphy. “The future of tomorrow’s industries begins today, and with it the promise of an inclusive 21st-century economy founded upon family-sustaining union jobs and continued growth in emerging sectors. Whether it’s offshore wind, film production, or residential and commercial development, by bolstering our standing as a national leader in these industries, we will continue to build a stronger and fairer New Jersey for all.”