High-tech tax credit zones are under consideration in New Jersey and could be a boon to Camden, Newark and New Brunswick. Yes, you read that right, high-tech tax credit zones. In a State known for its high taxes, a welcome relief and one that certainly could be a boost for the burgeoning electronic Garden State. Maybe the State is getting a little worried now that States like Texas and Indiana are actively looking to poach New Jersey businesses.
“As part of the latest effort to lure the high-tech industry to New Jersey, state officials are backing a measure that would offer tax incentives to those kinds of industries. Senate Bill 848 would have the state’s Economic Development Authority establish innovation zones around Camden, New Brunswick and Newark and provide tax incentives for businesses that create high-tech jobs within those zones. It describes such zones as the geographic area surrounding a research institution.”
Read: High-tech tax credit zones proposed for New Jersey at NJBIZ