Summary
TRENTON - A state grant program to encourage companies to move to New Jersey or add jobs here is generating nearly $350 million in extra state tax revenue annually, according to a study commissioned by the New Jersey Economic Development Authority and released Monday.
The study, conducted by the Edward J. Bloustein School of Planning and Public Policy at Rutgers University, found that operations of the 183 businesses assisted by the Business Employment Incentive Program over nearly eight years have bolstered New Jersey's coffers by about $8.4 billion. That amounted to a return on investment of 3.7-to-1, and the companies added 52,000 permanent new jobs, the study concluded.See the full content of this document
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Grants Bring Tax Revenue, Jobs to N.J.
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