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Long-awaited rules clear way for historic property redevelopment subsidies
The goal of the Historic Property Reinvestment Program is to revitalize these vacant and abandoned sites — some in New Jersey date back to the mid-17th century — in a way that benefits the local neighborhood and economy.
Report: NJEDA appeals ruling on Holtec tax incentives (updated)
The firm's $260 million award under the Grow New Jersey program was one of the largest in state history.
Major expansion of film, TV tax incentive makes its way to Murphy
State lawmakers approved another major expansion of New Jersey’s film, television and digital media incentive program on Monday, sending the legislation to Gov. Phil Murphy's desk, as the state eyes how to boost its sluggish economic recovery amid 22 months of the pandemic.
NJEDA doing too little to recover improper tax breaks, report says
The State Comptroller’s Office, in a Jan. 5 report, faulted the New Jersey Economic Development Authority for not clawing back $200 million in overpayments.
Judge blocks NJEDA from holding back Holtec’s tax break payments
Holtec International was awarded the $260 million Grow NJ incentive in 2014 for moving to Camden, making it one of the largest in state history.
Assembly, Senate rush ahead lame duck film, TV tax break expansion
In 2018, Gov. Phil Murphy revived the program, under which the state compensates producers for filming scenes in New Jersey and buying in-state goods. He approved a first expansion in early 2020, and another in the $14.5 billion economic subsidy package he signed this past January.
NJ putting up $6.3M in state subsidies for Paterson redevelopment
The latest undertaking in the city's Great Falls Historic District would restore two buildings for veterans housing.
NJ officials expect half a billion spent by film industry coming out of COVID
Media productions in the Garden State are projected to reach a historic level, as the state's lucrative incentive program has bolstered demand and ramped up the amount of studio, network and independent filming.
Murphy touts Fiserv move to NJ as key example of new incentive’s success
The state is awarding a $109 million tax break to the fintech under NJ Emerge to renovate and open a 428,000-square-foot, four-story office site in Berkeley Heights.
NJ approves record-high $33M tax break for NBC’s ‘The Equalizer’
In 2019, the media giant received nearly $14.4 million for its season one production in East Rutherford of “The Enemy Within,” and an $11.2 million award for the Kearny production of “Little America.”
NJ slashes $12M from drugmaker Sanofi’s $40M tax break (updated)
According to state officials, the money was awarded in August 2017 on two primary conditions: for major expansions at the global drugmaker's Bridgewater corporate campus, and that it would retain 2,099 job positions. But, the NJEDA contends, both circumstances have changed.
Murphy to decide on 213-page tax break ‘clean-up’ bill
The state Senate approved the 213-page measure by a unanimous vote at its June 30 session--the day before lawmakers break for the summer recess and to begin their reelection campaigns.
