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Task force: $578M could be clawed back from companies that didn’t need tax breaks (access required)

“The [Economic Development Authority] should have performed more diligence before approving multi-million incentives,” said Jim Walden, special counsel for the group convened by the governor to scrutinize the state's corporate incentives. “The lack of any fiscal cap led to pigs feeding at the trough. Often these were large companies, who did not need the incentives to stay in New Jersey, and offered illusory benefits.”

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The public hearing of the New Jersey Task Force on EDA Tax Incentives on May 2, 2019.

Tax break task force decries frequent consultant involvement, spotty oversight (updated) (access required)

“Some of these companies voluntarily provided evidence to the task force that tended to show that they, with at least some level of sincerity, considered the site as a potential relocation option,” read the 104-page report released Thursday. “The reader should not infer any conclusions about any company that are not explicitly set out in this Third Report.”

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