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TRENTON – A bipartisan bill sponsored by Senator Raymond J. Lesniak which creates the “Grow New Jersey” program to provide tax incentives for companies which maintain existing employment levels and create new jobs in New Jersey was signed into law today by Governor Christie.

“While we’re finally starting to see a federal rebound from record high unemployment, we have to do more in New Jersey to ensure that, as we recover nationally, that New Jersey residents have opportunities to get out of joblessness and into well-paying jobs,” said Senator Lesniak, D-Union, who fought to have job creation – and not just job retention – included in the bill to move New Jersey’s economic recovery forward. “The Grow New Jersey tax credit represents an innovative approach to spur economic activity and recovery, and will encourage businesses to expand in the Garden State. This is the latest tool to help reshape our State’s economic climate and expand our job market, and I look forward to seeing the Grow New Jersey tax credit program in action.”

Numerous Bills Looking To Jumpstart Economy Clear Senate

TRENTON – Committed to getting the state’s economy moving again, the Senate today voted out several pieces of legislation that will spur job creation and help small businesses grow in New Jersey.

“We have seen some positive economic news recently, but it is nowhere near enough in terms of what needs to be done,” said Senate President Steve Sweeney. “Hundreds of thousands of New Jerseyans still can’t find work and our small businesses are struggling to hire and expand. The bills we have passed today, coupled with the various ones we passed earlier in the year, will go a long way towards getting our economy moving again. I hope Governor Christie will join us in this effort.”

TRENTON – A bipartisan bill sponsored by Senator Raymond J. Lesniak which would create the “Grow New Jersey” program to provide tax incentives for companies which maintain existing employment levels and create new jobs in New Jersey received final approval in both the State Senate and the General Assembly today.

“With the latest unemployment figures released today, although we’ve made modest gains, we have to do more to cut into the 9.1 percent unemployment rate which is hanging over the State of New Jersey like a shroud,” said Senator Lesniak, D-Union, who fought to have job creation – and not just job retention – included in the bill to move New Jersey’s economic recovery forward. “The Grow New Jersey tax credit program represents an innovative approach to spur economic activity and encourage business owners to create the jobs that unemployed New Jerseyans need. In conjunction with other business incentive programs like NJ BEIP (Business Employment Incentive Program), the tax increment financing law, and the new Urban Transit Hub program, we’re finally creating an economic climate which encourages business growth rather than discourages it.”

TRENTON – A bipartisan bill sponsored by Senator Raymond J. Lesniak which would create the “Grow New Jersey” program to provide tax incentives for New Jersey-based companies which maintain existing employment levels and create new jobs was approved by the Senate yesterday by a vote of 38-0.

“Unemployed New Jersey residents need job opportunities, and this bill would go a long way to invigorate our economy, encouraging businesses to create jobs and grow the economy,” said Senator Lesniak, D-Union. “At a time when the State is facing record-high unemployment and capital investment has come to a standstill, we need to make a calculated investment to incentivize job growth and expand our economic recovery. The ‘Grow New Jersey’ program stands to be one of our most valuable economic recovery tools, and I urge the Governor to sign this measure as soon as it reaches his desk.”

TRENTON – A bipartisan bill sponsored by Senator Raymond J. Lesniak which would create the “Grow New Jersey” program to provide tax incentives for New Jersey-based companies which maintain existing employment levels and create new jobs was approved by the Senate Economic Growth Committee today by a vote of 7-0.

“With New Jersey’s unemployment rate at over 9 percent and capital investment in the State stagnating, we have to encourage employers to put New Jerseyans back to work,” said Senator Lesniak, D-Union, and the Chairman of the Senate Economic Growth Committee. “This bill would create a tax credit program, similar to the successful BEIP (Business Employment Incentive Program) and BRRAG (Business Retention and Relocation Grant) programs, in order to specifically encourage businesses to stay in New Jersey and expand our workforce. I’m confident that the ‘Grow New Jersey’ program will be another tool to help incentivize businesses to invest in the Garden State.”