Pennacchio: Revamp Urban Enterprise Zone

February 1, 2008

Contact: John Gorman / 609-292-5199
Senator Joe Pennacchio (R-26)

Would Save Taxpayers Over $100 Million Per Year

Senator Joe Pennacchio (R-26) is continuing to answer Governor Corzine’s call to find cuts in state spending, as opposed to increasing tolls, in order to balance the budget and pay down state debt. Senator Pennacchio is calling on the Governor to use his constitutional authority to eliminate the revenue sharing component of the Urban Enterprise Zone.

“The Urban Enterprise Zone has become another misguided government program that costs taxpayers millions of dollars a year,” stated Pennacchio. “It was established to revitalize blighted neighborhoods but instead has become another watering hole for greed and corruption.”

Last year, an audit of the Urban Enterprise Zone program revealed numerous problems with the administration of the various projects including lack of oversight and conflicts of interest for the zone’s governing bodies and for others who provide services on the agency’s behalf.

“During such financial taught times every government program, agency and department needs to be thoroughly evaluated to ensure it is meeting its intended goals and operating in the most effective and efficient way possible,” Pennacchio concluded.

Other ideas Senator Pennacchio has suggested over the past 2 weeks to cut state spending include:
Eliminate special municipal aid
$200,000,000
End Christmas tree spending
$100,000,000
Eliminate political patronage positions
$ 70,000,000
Roll back increases for Abbott Districts
$140,000,000
Eliminate Governor’s Contingency Fund
$ 875,000
Cut back BPU’s “confidential employees”
$ 2,000,000
Eliminate Department of Personnel
$ 10,000,000
Eliminate Department of the Public Advocate
$ 6,256,000
Eliminate New Jersey Law Review Commission
$ 321,000
Eliminate Revenue Sharing Of UEZ
$ 102,000,000
Total Savings:
$631,577,000