State Senate President Steve Sweeney last week came to the defense of New Jersey’s use of tax incentives — a recent target of Gov. Phil Murphy’s administration — while pledging to find a solution to extend and update the programs by the time they sunset on June 30.
EDA aims to lure grocery co-op from Staten Island, keep food service firm in Paterson
The state is hoping to coax a supermarket co-op to move its offices from Staten Island to Old Bridge as part of a recently approved tax credit incentive, as it moves to keep another food-related company from moving jobs out of New Jersey.
EDA: Biopharma firm mulls purchase of 85,000 sq. ft. Somerset building
A biopharmaceutical company is weighing plans to acquire an 85,371-square-foot industrial building in Franklin, having won approval for a 10-year, $13 million tax credit package from the state Economic Development Authority.
Incentives: Insiders expect greater scrutiny, urge proactive approach amid Trenton firestorm
If you’ve begun to collect tax credits under Grow New Jersey and other state incentive programs, experts say now is the time to be proactive and verify that you have met your commitments for job creation and retention.
EDA: Online marketplace for dog breeders, owners considers Jersey City call center
An online marketplace for dog breeders and owners is weighing plans for a new call center in Jersey City, having won approval for a 10-year, $4 million state tax credit incentive.
Murphy: Developers can seek up to $4 million under proposed historic tax credit program
Gov. Phil Murphy is hoping to lure new investors to some of the state’s oldest buildings, touting a proposed historic preservation tax credit as part of his plan to overhaul New Jersey’s embattled incentive programs.
NAIOP unveils 2019 gala honorees, installs new chapter president
NAIOP New Jersey will honor two of the industry’s top players in capital markets and commercial mortgage banking as part of its annual awards gala this spring, where it will also recognize a pair of influential developers and one of the state’s longest-serving mayors.
Incentives: A look at Murphy’s plans to streamline, cap subsidy programs
Gov. Phil Murphy detailed his plans to update the state’s incentive programs, speaking Wednesday during an event in Jersey City. — Courtesy: Edwin J. Torres/Governor’s Office By Joshua Burd After lashing out at New Jersey’s high-profile tax credit incentives, Gov.…
NAIOP: Comptroller report only reinforces need for updated incentives in New Jersey
New Jersey’s use of tax incentives drew harsh criticism from a new audit by a state watchdog agency, but commercial real estate leaders say they welcome the scrutiny — and see it as a step toward updating and renewing the programs later this year.
Brooklyn electrical contractor buys Paterson building for $7.8 million
An electrical contractor is expanding into New Jersey with its purchase of a Paterson industrial building, under a $7.8 million deal arranged by Team Resources Inc.
