Gov. Chris Christie signed legislation to increase tax credits under the Grow New Jersey Assistance Program for businesses undertaking collaborative research with New Jersey colleges and universities. The legislation, A-4432, (Schaer, Lampitt), is designed to help spur job creation and boost the economy by allowing a base tax credit of up to $5,000 per year if qualified business locates within a three-mile radius of the college or university campus and also establishes a collaborative research relationship with that institution of higher learning. The law took effect immediately.
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