With tax incentives for businesses, Assemblywoman Pam Lampitt’s plan aims to keep college graduates in New Jersey as well as attracting new businesses.
A New Jersey lawmaker is proposing legislation to help college students enter the workforce.
The measure sponsored by Assemblywoman Pamela Lampitt would give credits in both the corporate business tax and income tax to employers who hire college students for internships.
“Many businesses are being hurt by the economy and this is a way for them to get some sort of encouragement and tax relief at the same time and provide applicable experiences for young people,” said Lampitt Monday.
Companies would get a credit of 40 percent of what they pay their interns.
About 5,200 students would be eligible for the program. Lampitt said putting them to work would help generate revenue that could help pay for the cost of providing the tax credits.
Lampitt said it’s a way to encourage students to stay in New Jersey and also help attract businesses to the state