TRENTON – A bill sponsored by Senators Jim Whelan and Paul A. Sarlo which would expand a corporate business tax credit for research and development expenses was unanimously approved by the Senate and Assembly Wednesday, receiving final legislative approval.
“High tech research companies represent the economic future for New Jersey,” said Senator Whelan, D-Atlantic. “By promoting cutting edge businesses in the Garden State, we can create high-paying jobs for our State’s well-educated workforce, and begin to reverse the last few years of growing joblessness as a result of the global recession. This bill stands to make New Jersey a national research incubator, while attracting high-tech businesses to the State and creating more jobs for our residents.”