New Jersey Tax Credit To Encourage Transit-Oriented Locations

<p>New Jersey Governor Jon Corzine is pushing a bill that would offer tax credits of up to $75 million to businesses that locate within a half-mile of a transit station.</p>
January 4, 2008, 11am PST | Nate Berg
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"The bill is meant to expand on the idea of transit villages -- initiatives to curb urban sprawl by encouraging residential development in urban areas near mass transit -- and apply it to the corporate world. It would offer tax credits as an inducement to invest in offices in struggling cities rather than far-flung suburbs."

"Corzine is hoping to push the deal through in the lame-duck session in order to accommodate at least two corporations considering locating in urban areas, one in Newark and the other in New Brunswick, according to a senior administration official who asked not to be named because of the sensitivity of ongoing negotiations. The official declined to name either of the businesses involved."

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Published on Thursday, January 3, 2008 in The Star-Ledger
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