TRENTON – The Senate approved legislation today sponsored by Senator Shirley K. Turner that would require businesses receiving development subsidies from the State to submit information that would allow the State to monitor the effectiveness of those programs.
“New Jersey spends millions of dollars each year on tax breaks and subsidies to lure businesses to New Jersey,” said Senator Turner, D-Mercer. “Programs like the Business Employment Incentive Program (BEIP) and the Business Retention and Relocation Assistance Grant (BRRAG) Program, are funded year after year because of claims that they help create new jobs in New Jersey. As budgets continue to look tight for the future, we need to prove that the programs we fund really do pay off with job growth.”