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Fri, Jan 12, 2018

NJ Legislature Passes Tax Breaks For Atlantic City Airport

Makes The Area Around The Airport A Garden State Growth Zone

The New Jersey Legislature has passed a bill designating the area around Atlantic City International Airport (KACY) a Garden State Growth Zone. The bill has been sent to Governor Chris Christie for his signature.

The bill creates tax incentives for businesses in the "aviation district" on properties within one mile of the airport. Supporters say that it will help the county lock down tenants for the first building constructed for the Stockton Aviation Research and Technology Park, according to a report from The Press of Atlantic City.

Lauren Moore, executive director of the Atlantic County Economic Alliance, told the paper that the tax incentives will also help in the establishment of an aviation academy at the airport. The academy would be geared towards people seeking careers as in aviation. “We’re creating an aviation industry, so this will be good for all of South Jersey and New Jersey as a whole," he said.

Assemblyman Chris Brown said that the bill's passage will lead to the creation of 2,500 new jobs at the technology park.

FMI: Original report

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