TRENTON – Senator Bob Gordon (D-Bergen and Passaic) issued the following statement after the governor signed the New Jersey Economic Opportunity Act of 2013, legislation he sponsored (A-3680/S-2583) to streamline the state’s business incentive programs in order to create jobs and economic development in the state:
“In order to grow our economy, we have to make sure that we can compete for businesses both in the region and with states across the country. By overhauling our incentive programs, we are creating a smarter and more effective approach to attracting companies to New Jersey and ensuring that good-paying jobs remain here.
“This new law will mean increased opportunities to attract investment in the medical, technology and advanced manufacturing sectors, which will result in new high-paying jobs for our residents. It will provide enhanced tools to incentivize the development of projects in areas that are prime for growth, such as those in transit and port districts, and which make the best economic sense for our state.
“Just as important, this bill will make incentives more accessible to small and medium-sized businesses to allow them to expand. This will create new jobs, while generating economic activity that will contribute to local tax revenues and the overall financial well-being of the state.”