N.J. Legislature clears way for $5B in Amazon tax breaks
By Samantha Marcus email@example.com |
The state Legislature on Monday embraced Gov. Chris Christie’s plan to offer Amazon $100,000 per job it creates should it build its sought-after second headquarters in Newark.
New Jersey’s offer, which could total $5 billion in tax breaks, rivals some of the largest incentive packages hatched by states looking to land big businesses, and would set a record within the state.
These deals are often controversial, with governments giving away their claim to badly needed tax dollars businesses would generate otherwise. But those same tax dollars and the ancillary economic benefits wouldn’t exist at all, supporters say, if the business located somewhere else.