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Megadeals: Is New Jersey Out of Control?

NJSPOTLIGHT

June 20, 2013

As seen in this article, "New Jersey ranks fifth among states in the number of 'megadeal' incentives it’s granted to convince corporations to invest and create or retain jobs here. This largesse, however, is expected to be curbed somewhat by the Economic Opportunity Act of 2013, which is likely to pass the General Assembly this session.

[Camden County freeholder Lou] Capelli is lobbying Trenton to pass the Economic Opportunity Act, likely to be voted out of the Senate budget committee by Monday. He said the bill proposes new incentives that will equal or surpass Pennsylvania’s popular Keystone program. And Princeton real estate attorney Ted Zangari said the incentives will prove so lucrative, yet so fair, companies won’t be able to resist them.

'I call this the Goldilocks Effect. It’s not too stingy, it’s not too generous,' Zangari said. 'I can say confidently it will be a rare occurrence where we sit awkwardly with a company that’s telling the lieutenant governor that another governor is offering a larger pot of money.'"