NJBIA President and CEO Michele N. Siekerka Esq. issued the following statement in response to the completion of the Final Report on NJEDA’s Tax Incentive program by Governor Murphy’s Task Force.
“As we review the Final Report on NJEDA’s Tax Incentive programs by Governor Murphy’s Task Force, we remain steadfast in our view that not having had such a program for over a year has done a great disservice to New Jersey’s economy.
“As we have said since last year, oversight and reviews of the incentive programs to ensure their integrity and effectiveness are wholly appropriate. However, for New Jersey not to have this tool at its disposal for such a long period of time has made our state even less competitive – as we already lagged behind the region and the nation in economic growth in our pre-COVID-19 existence.
“Our policymakers all agree that tax incentives are an important and effective tool in New Jersey’s overall economic development toolkit. As such, we need them now to get on the same page and put forth a program immediately for the good of our state’s economy.”