Tax Credits, Police Promotions, Pizza – Thursday’s Roundup

Tax Credit Money
Politico has a fun story about the sale of economic opportunity tax credits that the EDA likes to give out, which jumped from $20 million in 2013 to $200 million in 2017. (paywall)

The idea is that the state gives you, Mister innovate-y jobs-create-y person, a “credit” for one dozen dollars off your next tax bill in exchange for blessing us with your business. But lets say you’re a small business that pays less than a dozen dollars a year in taxes (like Amazon, for instance). You can sell your credits today on the open market, usually for 90% of the face value. “Unfortunately, during our debate about the tax credits, the whole idea of selling them is usually deep in the background.

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New Tennessee Ave Pizza Place Gets NJEDA Grant

A new pizza-and-cocktail-bar project will get state funds to refurbish a storefront on the beach block of Tennessee Avenue, Mayor Frank Gilliam said in a press release. The restaurant, Rhythm & Spirits, will open this summer and sit between Hayday Coffee and MADE chocolate bar and it is the latest project by developer Mark Callazzo.

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California Ave Fire House, Betting on the Oscars and more – Monday’s Roundup

Amanda Auble has a story on the fire house on California Avenue, which has been closed due to mold, which is gross. John Varallo, the new union head, says realistically two stations should be closed. “It’s the lack of the capital improvement and the lack of political will to fix these problems before they balloon, and now we’re here with a station closed.”

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Norcs, Trains, Drugs & Donuts – Friday’s Roundup

Sam Sutton at Politico reported on a bill that passed the state senate that makes it easier for insurance brokers to collect fun benefits when they sell insurance plans, a “clear victory for the state’s insurance industry,” which includes George Norcross and his company that also gets lots of money from the EDA. Steve Sweeney was the primary sponsor.

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State Legislature, DEP – Thursday’s Roundup

The Politico Playbook has great rundowns on the state of play around the marijuana-legalization and housing-assistance bills in the state legislature.

Marijuana legalization recently polled 2-1 in-favor among New Jerseyans, but elected officials, who don’t really work for you, are naturally cautious. To pass, they need five yes votes from a group of seven Dems.

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