TRENTON – Municipal officials and lawmakers are optimistic one of the more popular economic development tools – the Urban Transit Hub Tax Credit program – will be inked by Gov. Chris Christie in the coming week.
Sen. Raymond Lesniak, (D-20), of Elizabeth, is optimistic the governor will sign the bill, which makes various changes to the program, saying Christie has been supportive of its continuation. The bill handily passed the Legislature.
“Christie requested it and the additions I made were approved by his chief of staff,” he said in an email.
The Urban Transit Hub Tax Credit program offers financial incentives to corporations that agree to make capital improvements within one-half mile of a transit facility.
Panasonic is one of the companies that has benefited from the program, receiving some $102 million.
Cities that have seen gains from the program in the past include Camden, New Brunswick, and Elizabeth.