Assembly Speaker Craig Coughlin (D-Middlesex) announced today that the Assembly Commerce and Economic Development Committee will conduct hearings to fairly and transparently examine tax incentive programs in the New Jersey Economic Development Authority:
“It is obvious that the legislature needs clarity in terms of how the New Jersey Economic Development Authority is doing business.
“We plan to schedule hearings conducted by the Assembly Commerce and Economic Development Committee to fairly examine the tax incentive programs administered by the EDA, study the efficacy and viability of the programs and ensure we are maximizing the return on our investments.
“The current tax credit programs are set to expire next month and we need to determine what is working best.
“We cannot turn our backs on programs that have proven to generate growth and jobs in vital cities like Atlantic City, Camden and Newark, just to name a few.
“A complete list of times and dates for the hearings will be made public when finalized, at which time a full list of invited guests who will be asked to provide testimony will also be provided.”