Senator Chris Brown’s legislation creating a Garden State Growth Zone around the Atlantic City International Airport is becoming law.
The zone would also include the Federal Aviation Administration William J. Hughes Technical Center, and the Stockton Aviation Research and Technology Park.
Senator Brown’s bill to create a Garden State Growth Zone around the Atlantic City Internation Airport. (@ChrisBrownNJ)
“By working hard in a bi-partisan manner over the last four years while continuously fighting for our Atlantic County families, we’ve created one of the most significant opportunities to create jobs for our local working families since the approval of casino gaming,” Brown said.
“While Tourism and gaming are the ‘bread and butter’ of Atlantic County’s economy, it’s clear Atlantic County must diversify its economic base beyond tourism and gaming,” Brown said, noting Atlantic County families still suffer from the highest foreclosure rate in the nation and an unemployment rate persistently above the State average.
The bill will extend the highest level of economic incentive benefits under the Grow New Jersey Assistance Program and the Economic Redevelopment and Growth Grant Program (ERG) to companies locating in and around the Atlantic City International Airport.
“Atlantic County offers the ‘most advanced aviation environment on the planet,’ and I believe there are companies out there who will come to Atlantic County,” Brown said. “Unfortunately New Jersey’s high taxes and the high cost of doing business are obstacles to attracting businesses and jobs to our county.”
Brown noted Israel, for example, is a logical prospect to market Atlantic County. First, Israel is already New Jersey’s 13th largest trading partner and leads the world in start-ups per capita because it has the fifth largest venture capital market in the world. Second, Israel already imports 59% of its aircraft parts from the United States.
Moreover, with the FAA Technical Center serving as a lead facility in the development of American drone technology, further development through civilian and military applications would benefit America and Israel’s common interest in staying at the forefront of innovation and protecting our citizens.
“I believe with these tax incentives, Atlantic County will finally be able to compete with the rest of the world while diversifying our local economy and creating good-paying jobs for our middle-class families,” said Brown.
“Understanding New Jersey’s high taxes and the high cost of doing business are obstacles to attracting jobs to our county combined with casinos opening up in surrounding states, we are taking seriously the need to diversify our economy to create new, good-paying jobs by attracting aviation companies to Atlantic County.”