A bill that would provide tax incentives to businesses in areas designated as Garden State Growth Zones, including Atlantic City International Airport, was released Thursday to the state Assembly for a full vote.
The bill is intended to strengthen Atlantic County‘s economy and start a local aviation industry.
“Creating a growth zone around the airport, to encompass the Stockton Aviation Research Park, has the potential to be a real driver in bringing new industry and new good-paying jobs to our area,” said Assemblyman Vince Mazzeo, D-Atlantic, a sponsor of the bill. “This would benefit the city, the county, lessen our reliance on gaming as our main economic driver and position Atlantic City as a prominent player in the aviation industry.”
Five municipalities in the state – Atlantic City, Camden, Passaic, Paterson and Trenton – already have been established as growth zones. Companies in these regions may receive tax credits totaling as much as $35 million.