(TRENTON) – Assembly Commerce and Economic Development Chairman Albert Coutinho (D-Essex) released the following statement after the Assembly voted 68-5 to approve The New Jersey Economic Opportunity Act of 2013. Coutinho is lead sponsor of the bill (A-3680):
“Our tax incentive programs have been invaluable to our state’s economic development planning, but with five programs with varying goals we clearly needed to streamline these programs and make it easier for businesses to understand and take advantage of them.
“We want businesses to bring new jobs to New Jersey and preserve the ones they already provide. This merger of five incentive programs into two will enhance the ability of the state to attract and retain businesses to further the overarching goal of creating and retaining jobs.
“Under this bill, we will see economic growth in areas that have not seen economic growth in decades. With changes to this bill, we will continue to protect our environment. In the end, we will be doing the right thing for New Jersey’s economy and for job creation, and I look forward to seeing the benefits for years to come.”