Media Advisory – Senator Sarlo To Announce Initiative To Draw High-Tech Firms To Nj

TRENTON – Today, Senator Paul A. Sarlo said a new report by an international accounting firm cites benefits, including millions in State revenue and thousands of high-paying jobs for New Jersey residents, which “more than justify” enacting his legislation to create a digital media tax credit that will draw in new high-tech, high-growth firms to the State.

“New Jersey has been on the cutting edge of latest technology trends in the economy, but we need to be aggressive if we’re going to maintain our prominent place in the nation,” said Senator Sarlo, D-Bergen, Essex and Passaic. “The latest report on the benefits of a digital media tax credit further demonstrate just what’s at stake – thousands of high-paying jobs and hundreds of millions of dollars in economic activity for New Jersey. Now more than ever, we need to provide incentives for digital media companies to locate to the Garden State.”

TRENTON – 36th District Senator Paul Sarlo announced today a major legislative initiative designed to draw high-technology, high-growth digital media business to the State.

The legislation, S-2526, is the centerpiece of Senator Sarlo’s (D-Wood Ridge) digital media growth strategy that will help create thousands of high-wage jobs and millions of new wage dollars for New Jersey resulting in substantial tax revenues for the State.

TRENTON – A bill sponsored by Senator Paul A. Sarlo which would offer tax credit incentives to digital media production companies to relocate to New Jersey was unanimously approved by the Senate Budget and Appropriations Committee today.

“New Jersey needs to invest in its economic future if we’re going to remain financially competitive in the world,” said Senator Sarlo, D-Bergen, Essex and Passaic. “Due to the high cost of living and doing business in the Garden State, we’re hemorrhaging valuable business partners at an alarming rate. By attracting emerging technology to set up shop here, we can ensure New Jersey’s continued economic vitality for years to come.”

TRENTON – A bill sponsored by Senator Paul A. Sarlo which would offer tax credit incentives to digital media production companies to relocate to New Jersey was approved by the Senate today by a vote of 21-16, conforming to the Governor’s conditional veto of the bill.

“With this bill, New Jersey would be setting the groundwork to capitalize on one of the fastest growing industries in the world right now,” said Senator Sarlo, D-Bergen, Essex and Passaic. “Digital media production is emerging as a leader in high-tech economics, touching on nearly every area of entertainment and creating so many well-paying jobs where the companies have set up shop. This bill would give the Garden State the incentives needed to be a part of this fast-growing business trend.”

TRENTON – A bill sponsored by Senator Paul A. Sarlo which would offer tax credit incentives to digital media production companies to relocate to New Jersey was approved by the Assembly Telecommunications and Utilities Committee today.

“Digital media production is a fast-growing component of our national economy, and by being at the forefront of business growth incentives for the industry, New Jersey can capitalize on a wonderful opportunity,” said Senator Sarlo, D-Bergen, Essex and Passaic. “We need to position the Garden State to be at the center of the digital media expansion, ensuring thousands of jobs for State residents and bringing in millions in new revenue to the State.”