GREENSTEIN & DeANGELO: CHRISTIE TECHNOLOGY CUTS HURTING ONE OF N.J.’S BEST SELLING POINTS TO BUSINESSES

(14th LEGISLATIVE DISTRICT) – Assemblywoman Linda Greenstein and Assemblyman Wayne DeAngelo on Friday said a new study that found technology and innovation is one of New Jersey’s best selling points for businesses shows how Gov. Chris Christie’s budget will hurt New Jersey’s economy.

Christie’s tax-laden budget slashed high tech tax credits by $30 million and film production tax credits by $15 million, costing the state business, jobs and economic activity.

The Christie business cuts come as an analysis by CNBC found technology and innovation support was among New Jersey’s best selling points for business. The study found New Jersey ranked 9th highest in the nation for supporting technology and innovation.

“This is just further evidence that Gov. Christie’s budget squelches job creation and business expansion, hurting our economy and our residents when they need the help the most,” said Greenstein (D-Middlesex/Mercer), who has sponsored legislation to encourage technology development in Central New Jersey. “The last thing we should do is attack one of our best selling points, but that’s exactly what Gov. Christie has done in slashing technology and innovation.”

“The technology industry warned us that Gov. Christie’s budget would lead to a ‘Closed for Business’ sign being put up on the state, and this new study shows that will be the case,” said DeAngelo (D-Mercer/Middlesex), the Assembly telecommunications vice chairman. “Our focus must be on creating jobs and boosting our economy, not attacking our best assets and giving tech businesses reason to move out or stay away.”

The CNBC study can be found at http://www.cnbc.com/id/37516039/.