New Jersey Future Praises Governor Murphy for Audit of State’s Economic Incentive Programs
TRENTON, Jan. 19, 2018 — New Jersey Future Executive Director Peter Kasabach today praised Gov. Murphy for his executive order calling for an audit of the state’s economic incentives.
As Kasabach noted in a Jan. 8 op-ed article for the Star-Ledger, the state pays more in incentives per job than any other state, its incentives are disproportionately focused toward larger, older organizations rather than startups and high-growth companies, and we need to be more rigorous in our measurement of the results of these programs.
To leverage state investments further, the incentive programs should support growth and redevelopment where infrastructure exists and where corporate investment can accelerate growth of our urban and emerging markets. New Jersey Future’s own 2014 geographic audit of the state’s incentive program found that, while the programs were rich, they were targeted well geographically.
“New Jersey spends a ton of money on its economic incentive programs,” said Kasabach, “We need to make sure we are investing in the right kinds of jobs in the right places.”
Founded in 1987, New Jersey Future is a nonprofit, nonpartisan organization that promotes sensible growth, redevelopment and infrastructure investments to foster vibrant cities and towns, protect natural lands and waterways, enhance transportation choices, provide access to safe, affordable and aging-friendly neighborhoods and fuel a strong economy. The organization does this through original research, innovative policy development, coalition-building, advocacy, and hands-on technical assistance. New Jersey Future serves as the backbone staff for the Jersey Water Works collaborative.
