TRENTON – Legislation sponsored by Senate President Steve Sweeney and Senator Jeff Van Drew creating a Garden State Growth Zone at Atlantic City International Airport and surrounding areas was signed into law today by Governor Phil Murphy.
“We want to do all that we can to support and sustain Atlantic City’s ongoing economic recovery,” said Senate President Steve Sweeney (D-Gloucester/Salem/Cumberland). “Designating a regional growth zone in and around the airport will help foster a diversified economy that is so important to long-term growth. The International Airport can play a significant role as an aviation hub for the entire region, supporting the expansion of the aviation industry, the business community and educational institutions. This is an opportunity we want to capitalize on.”
“A ‘growth zone’ around the airport offers the opportunity for innovation, aviation research, and economic development that will benefit the entire South Jersey region,” said Senator Jeff Van Drew (D-Atlantic/Cape May/Cumberland). “The airport’s proximity to educational institutions, including the new Stockton University campus in Atlantic City, creates enormous potential for the development of new aviation technology that will put the Atlantic City region in the forefront of the aviation industry. Establishing a Garden State Growth will help bring high paying jobs, business growth and economic opportunities to support sustaining growth.”
The law, S-2307/A-3676, creates a new Garden State Growth Zone 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 business located in a Garden State Growth Zone benefit from enhanced incentives offered only to businesses located in GSGZs. The state currently has five designated Garden State Growth Zones: Atlantic City, Camden, Passaic, Paterson, and Trenton.