Governor Christie has signed major economic development legislation to spur economic growth in our state. This legislation, the Economic Opportunity Act of 2013, while complex, offers broad economic incentives for a range of redevelopment projects and can help jumpstart projects for developers who are prepared to take advantage of this opportunity.
The attorneys at the law firm of DeCotiis, FitzPatrick & Cole, LLP have put together a white paper to help developers understand this comprehensive piece of legislation and see if a project is eligible to receive tens of thousands of dollars available in tax credits. The firm's white paper locates and explains the five eligible areas to receive tax credits and other incentives under the Grow NJ Program. Further, it explains in detail, the Economic Redevelopment and Growth Program that will now serve as the state's chief inducement program for developers. Please click here to see our outline of the legislation.
"Governor Christie and the State Legislature deserve credit for passing a legislative package that can help redevelopment projects pave the way to a more vibrant economy," said Edward Boccher, a partner at the firm, and member of the firm's redevelopment practice. "The DeCotiis firm has deep experience in both state government and redevelopment law and we are ready to help developers take advantage of this exciting opportunity."
Again, to read the firm's white paper, please click here. For more information on how the DeCotiis firm can help you take advantage of the Economic Opportunity Act of 2013, please contact Joseph DeCotiis, Managing Partner at 201-907-5203.