8/27/19-Gov. Murphy Conditionally Vetoes Corporate Tax Break Extension

Gov. Murphy Conditionally Vetoes Corporate Tax Break Extension

August 23, 2019 |njbiz.com 

Gov. Phil Murphy on Friday (8/23) conditionally vetoed a bill that would extend the state’s controversial corporate tax program until January next year, doubling down on his push for a set of five new economic incentives.
Murphy sent back Assembly Bill 5343 along with a 143-page veto message saying he would only approve the bill if it included the five tax incentives he proposed in October, which would be capped at $400 million a year. Legislative leadership has stood in opposition to those very incentives, meaning the statehouse and governor’s office could be in yet another political gridlock over the state’s flagship incentives.

NJ SEED urges the Murphy Administration and legislative leaders to resolve their differences over corporate tax issues. Tax certainty is important to business planning and economic stability.

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8/27/19-Employment Training Program for SNAP Recipients Extended

Employment Training Program for SNAP Recipients Extended

 August 23, 2019 |njbiz.com 

New Jersey’s employment training program associated with the Supplemental Nutrition Assistance Program would have come to an end without Assembly Bill 3647, which was signed into law Friday.
The program, originally called the SNAP Employment and Training Provider Demonstration Project when created in 2014, aims to improve the economic self-sufficiency of SNAP recipients by offering job-focused skills, training, and experience.

NJ SEED applauds the enactment of legislation aimed at improving the economic self-sufficiency of SNAP recipients through job-focused skill training. 

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8/27/19-New Gateway Tunnel Funding Plan Cuts Price Tag by $1.4 Billion

New Gateway Tunnel Funding Plan Cuts Price Tag by $1.4 Billion

August 23, 2019 |njbiz.com 

Under the plan released Friday (8/23), the cost for building a new tunnel and renovating the existing one would be scaled down $1.4 billion – from $12.7 billion to $11.4 billion, according to a joint statement from the Gateway Development Corp., the Port Authority of New York and New Jersey, and Amtrak on the updated application submission to the Federal Transit Administration.

NJ SEED applauds efforts by GDC and the Port Authority to trim projected costs for both urgently needed repairs to the ancient existing tunnel and the equally urgently needed new tunnel. This issue must rise above partisanship to allow the PA to continue to meet the needs of the bi-state economy.  

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8/27/19-Job Training, Credentialing Pilot Program Enacted

Job Training, Credentialing Pilot Program Enacted

 August 23, 2019 |njbiz.com 

Gov. Phil Murphy signed legislation on Aug. 23 directing the creation of a pilot program to train unemployed and underemployed workers in 10 industries.
Funding for the program, to be developed by The Department of Labor and Workforce Development, will come from the Workforce Development Partnership Fund.

NJ SEED: New Jersey has long prided itself on its well-trained workforce. It is often the state’s labor organizations that provide essential training. The targeted industries that will benefit from enactment of S-1887/A-4164 include the hospitality industry which is vital to the Garden State’s economy.

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8/20/19-New Council Will Oversee NJ’s Offshore Wind Industry

New Council Will Oversee NJ’s Offshore Wind Industry

August 16, 2019 |njbiz.com 

Gov. Phil Murphy’s Friday morning (8/16/19) executive order – his 79th since taking office – establishes the Wind Innovation and New Development Institute to create and handle the plan for education, research and job-training of the growing industry.
At stake is a statewide clean energy industry valued in the billions of dollars. In June, the Board of Public Utilities approved Ørsted’s bid to construct facilities for 1,100 megawatts of wind energy off the coast of Atlantic City – a move expected to generate $1.17 billion in economic benefits and power 500,000 New Jersey homes.

NJ SEED  applauds the creation of the Wind Innovation and New Development Institute as an important addition to provide research, education and job training for this major addition to the energy sector.

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