Gov. Phil Murphy signed the Garden State Growth Zone bill to create a less-than-one-year window for tax incentives to apply to companies interested in growing alongside the aviation tech park near the Atlantic City Airport.
The bill establishes a growth zone in the one-mile radius outside the airport.
“Building a stronger and fairer New Jersey economy starts with the communities that were hit hardest by the economic downturn of 2008. Atlantic City can serve as a beacon of growth for Atlantic County and the state as a whole,” Murphy said in a statement. “I thank the Legislature for its concurrence with the recommendations I made last month, and look forward to continuing to work together to bring results to the residents of Atlantic County.”
Murphy originally conditionally vetoed the bill.
“We want to do all that we can to support and sustain Atlantic City’s ongoing economic recovery,” said state Senate President Steve Sweeney (D-West Deptford). “Designating a regional growth zone in and around the airport will help foster a diversified economy that is so important to long-term growth. The international airport can play a significant role as an aviation hub for the entire region, supporting the expansion of the aviation industry, the business community and educational institutions. This is an opportunity we want to capitalize on.”
Other legislators from the region also touted the governor’s actions Wednesday:
“An ‘aviation zone’ around the airport offers the opportunity for innovation, aviation research and economic development that will benefit the entire South Jersey region,” said Sen. Jeff Van Drew (D-Cape May Court House). “The airport’s proximity to educational institutions, including the new Stockton University campus in Atlantic City, creates enormous potential for the development of new aviation technology that will put the Atlantic City region at the forefront of the aviation industry. Establishing a Garden State Growth Zone will bring high-paying jobs, business growth and economic opportunities to support sustained growth.”
“Now, Atlantic City Airport has the opportunity to become the aviation hub of South Jersey,” said Assemblyman Vince Mazzeo (D-Northfield). “Its proximity to educational institutions, such as Stockton Aviation Research and Technology Park, creates enormous potential for development of new aviation technology and putting Atlantic County and the state at the forefront of the industry. It’s good for the residents of Atlantic County and for New Jersey that this bill is now law.”
“Innovation, aviation educational research and economic development — there’s great potential for growth in the western part of Atlantic County and surrounding areas,” said Assemblyman John Armato (D-Northfield). “A Garden State Growth Zone in and around the Atlantic City airport will bring high paying skilled jobs, business growth and lead to the stabilization of the local economy.”