Mazzeo believes measure is vital to the overall economic comeback of Atlantic City
(TRENTON) – Legislation sponsored by Assemblyman Vince Mazzeo (D-Atlantic) to create a Garden State Growth Zone around the Atlantic City International Airport and take advantage of economic incentives to attract business to the area was released Monday by an Assembly panel.
The Garden State Growth Zone (GSGZ) is a business improvement incentive created under the Economic Opportunity Act of 2013. There are currently five municipalities in the GSGZ: Atlantic City, Camden, Passaic, Paterson and Trenton. The designation provides significant bonus incentives for companies and developers to relocate and develop within those municipalities.
“Creating a growth zone around the airport, to encompass the Stockton Aviation Research Park has the potential to be a real driver in bringing new industry and new good paying jobs to our area,” said Mazzeo. “This would benefit the city, the county, lessen our reliance on gaming as our main economic driver and position Atlantic City as a prominent player in the aviation industry.”
The bill (A-4510) would expand the type and amount of eligibility for certain incentives offered to qualified businesses under the Grow New Jersey Assistance Program and the Economic Redevelopment and Growth Grant Program for businesses located in a Garden State Growth Zone. Currently, the enhanced incentives are offered only to businesses located in the GSGZ in Camden.
The bill would create a GSGZ within an “aviation district,” with that term meaning, under a revised definition under the bill, as 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.
The bill was released by the Assembly Appropriations Committee.