Votes to Accept Governor’s CV of Legislation Creating ‘Growth Zone’
TRENTON – The Senate today voted for legislation to create a Garden State Growth Zone around the Atlantic City Airport, an action that will help promote economic growth and job creation in the region. Sponsored by Senator Jeff Van, the bill, A-3676, which provides Garden State Growth Zone incentives at the Atlantic City Airport, was revised by Governor Phil Murphy and returned to the Legislature for consideration.
“Although we continue believe that the version of the bill previously passed by the Legislature was better for the Atlantic County economy, we realize that even a scaled-down incentive plan will help attract jobs and promote economic growth in the region,” said Senator Van (D-Cape May/Atlantic/Cumberland). “We want to do all that we can to support and sustain Atlantic City’s ongoing economic recovery.”
“We want to move forward on this because it is an opportunity for innovation, aviation educational research and economic development in South Jersey,” said Senator Van Drew. “Establishing a Garden State Growth Zone in and around the Atlantic City airport will bring high paying jobs, business growth and economic opportunities for the entire region. The airport’s proximity to educational institutions creates enormous potential for development of new aviation technology that will put the Atlantic City region in the forefront of the aviation industry.”
The new Garden State Growth Zone will be created within an “aviation district,” which is defined to mean all areas within the boundaries of the Atlantic City International Airport and the Federal Aviation Administration William J. Hughes Technical Center, and the area within a one-mile radius of the outermost boundary of that airport and technical center.
Under the Grow New Jersey Assistance Program and the Economic Redevelopment and Growth Grant Program, qualified businesses located in a Garden State Growth Zone benefit from enhanced incentives offered only to businesses located within the zones. The state currently has five designated Garden State Growth Zones: Atlantic City, Camden, Passaic, Paterson, and Trenton.
The Senate vote was 37-1. Also approved by the Assembly, the bill returns to the governor for enactment.