The Redeveloper

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Attention Tenants! Grow-NJ Tax Credits Without Prevailing Wage

Co-Authored By Steven P. Gouin A little known regulation makes a big difference for tenants taking less than 55% of a leased facility. Namely, these tenants may be eligible to receive millions of dollars of monetizable corporate income tax credits under New Jersey’s Grow-NJ Program, without having to comply with that program’s prevailing wage mandate. […]

The Economic Opportunity Act of 2013 – Incentives and Challenges For Residential Developers

As of November 18, 2013, the New Jersey Economic Development Authority (“EDA”) began accepting applications for the new state-sponsored incentive programs created under the New Jersey Economic Opportunity Act of 2013 (the “Act”). The Act was signed into law by Governor Chris Christie on September 18, 2013 and serves to replace the previous state-sponsored incentive […]

NJ Economic Opportunity Act Will Consolidate Economic Development Incentives

The NJ State Assembly recently passed the New Jersey Economic Opportunity Act of 2013. This Act merges five economic development incentives into two distinct programs administered by the NJ Economic Development Authority (EDA). By enhancing “the ability of the state to attract and retain businesses,” this new bill facilitates the creation of thousands of new […]