TRENTON, N.J. (AP) — The New Jersey-sponsored business rush to Camden got a boost Tuesday when the state Economic Development Authority approved $118 billion in future tax breaks for Subaru of America to move its U.S. headquarters to the city, and $40 million for Cooper Health System to move non-medical offices from the suburbs.
Since Chris Christie was sworn in as the Governor of New Jersey a couple of years ago, the Garden State has given $1.57 billion in tax breaks to dozens of large corporations too stay in, move to, or expand in Jersey and create new jobs.
The Obama administration wants Congress to enact or expand tax breaks for small businesses and remove barriers to business startups. The legislation seizes on existing bipartisan proposals that could win support even in an election year.