Governor Phil Murphy Proposes Renewed Brownfields Tax Credit as Part of Incentives Reform Package
From Insider NJ. Governor Phil Murphy today proposed a renewed Brownfields Redevelopment tax credit program as part of his vision for incentives reform. The Brownfields Tax Credit will serve to close project financing gaps in an effort to revitalize underutilized industrial properties while incentivizing the preservation of New Jersey's green spaces.
“The transformational power of New Jersey's formerly unused, contaminated industrial spaces is evident in South Amboy's Lower Broadway,” said Governor Murphy. “Our Administration's reinvigorated Brownfields redevelopment tax credit will tap these vast resources, creating jobs, revitalizing communities, and recapturing the innovative spirit of New Jersey's history.” Read more here