A New Jersey legislative committee has advanced a bill to offer tax breaks to some projects in the pipeline in the state’s poorest city.Under proposed revisions to last year’s Economic Opportunity Act, the state would offer tax credits to owners of supermarkets in Camden as well as Atlantic City.
The annual break would be $500 to $5,000 per full-time worker, depending on the location of the store.
The new renaissance schools coming to Camden would also qualify for tax breaks under the bill.
The first of the new type of school is under construction now. It is being funded partly by the foundation of the family of Democratic powerbroker George Norcross.
The bill was advanced unanimously by an Assembly committee but removed from the agenda of a Senate panel.