M E M O R A N D U M
Members of the Senate Budget & Appropriations Committee
: Christina M. Renna, Vice President
RE: S-2307 (Sweeney/Van Drew)
DATE: June 18, 2018
The Chamber of Commerce Southern New Jersey (CCSNJ) is proud to support S-2307 (Sweeney/Van Drew), which creates a Garden State Growth Zone (GSGZ) at the Atlantic City International Airport and surrounding areas. This designation will allow for enhanced incentives to qualified businesses that chose to locate within one mile of the airport or nearby technical center.
Under S-2307 (Sweeney/Van Drew), the type and amount of eligibility for certain incentives offered under the Grow New Jersey Assistance Program and the Economic Redevelopment and Growth Grant Program for businesses located in a GSGZ would be expanded. Currently in South Jersey, enhanced incentives are offered only to businesses located in Camden and Atlantic City, both of which have seen recent economic success.
The CCSNJ’s hope is that this bill’s passage will lead to similar success in Atlantic County, an area looking to grow and diversify its economic footprint in the region. S-2307 (Sweeney/Van Drew) has a specific focus on creating a GSGZ within an “aviation district,” meaning areas within the boundaries of the Atlantic City International Airport, the Federal Aviation Administration William J. Hughes Technical Center and the land within a one-mile radius of those locations.
The passage of S-2307 (Sweeney/Van Drew) is one of the key components to diversifying the Atlantic County economy. Atlantic County’s historic overreliance on two industry sectors - gaming tourism and hospitality - posed a serious threat to its long term economic well-being. The creation of an aviation district will encourage businesses to locate in the Zone, bringing with it businesses, jobs and spurring diverse economic growth. Additionally, it will assist in putting the Atlantic City International Airport in a position to compete with other airports in the region and assist in establishing a large scale aviation industry in Southern New Jersey.
For these reasons, the CCSNJ respectfully requests your support of S-2307 (Sweeney/Van Drew).