A former state Senator who was a leader on economic development incentive policy when he was in the Legislature says New Jersey’s impasse over the issue is starting to hurt.
Ray Lesniak was prime sponsor of the last economic development incentive programs New Jersey enacted in 2013. Those programs expired July 1, and Gov. Phil Murphy and the Legislature have not agreed on how to replace them.
In an op-ed published by ROI-NJ this morning, Lesniak wrote:
“Two months ago, I asked this question: ‘Over the past five years, four Brooklyn-based companies have relocated to New Jersey, but, with the expiration of our tax incentives, that pipeline has been shut down. Will it be reopened by Gov. Phil Murphy and the Legislature?’
“Unfortunately, the pipeline wasn’t reopened, and the chickens have come home to roost.”
He said the Brooklyn company CMS Management Solutions had identified several suitable properties for moving its 100-employee operation to New Jersey, but dropped the idea after the incentive programs expired. Now, the company has a new 10-year lease at the Brooklyn Army Terminal.