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Moriarty’s ‘New Jersey Economic Opportunity Act’ Signed into Law

(4th LEGISLATIVE DISTRICT) – Assemblyman Paul Moriarty (D-Gloucester/Camden) released the following statement Wednesday after the governor signed the New Jersey Economic Opportunity Act of 2013 (A-3680) that Moriarty sponsored:

“This is an outstanding day for New Jersey and our ongoing effort to create jobs and spark economic growth. We’ve been working on this bill for a long time and it’s great to see if finally become law. This is a sweeping revamp of the state’s economic development incentives, and I look forward to the jobs it will create, especially in the South Jersey region.
“The law provides for revised job creation and capital investment requirements for
southern New Jersey counties under the Grow NJ job creation program. Under the economic and population dynamics of New Jersey, southern counties have not been able to meet the requirements of state incentive programs. As a result, capital investments have been lower, generating fewer jobs in South Jersey. That was wrong, and I fought to change it..
“This law will help South Jersey finally qualify for state supported economic
development projects, meaning more jobs and economic growth for Gloucester and Camden counties. It’s long deserved and will be a real plus to our region and its hard-working families.
“But when all is said and done, the effect of these changes to our economic incentive programs will be felt in all regions of the state. That’s great news for our economy – and our residents.”