Gov. Phil Murphy has been touting — even demanding — the need for better incentive programs since he began campaigning for the job.
Four years later, he and other elected officials celebrated the first award under the Emerge Program, a seven-year, nearly $10 million award to Party City Holdings Inc., which intends to bring its headquarters — and 357 new jobs — to Woodcliff Lake.
“When we began working on reforming the state’s tax incentive program four years ago, this was exactly the type of award we envisioned — a project that will bring good, high-paying jobs to New Jersey at a reasonable investment,” Murphy said.
“A big piece of building a stronger and fairer New Jersey is fueling a strong, 21st-century economy that works for everyone. We view this new incentive program as integral to the continued growth of New Jersey’s economy.”
A number of other elected officials lauded the announcement, too.
- Assembly Speaker Craig Coughlin (D-Woodbridge): “The reauthorization of a large-scale jobs incentive package to strategically move New Jersey’s economy forward had been a long time coming when the Economic Recovery Act of 2020 was signed. With the announcement of the first Emerge award, set to create and retain nearly 700 jobs, we’re taking a big step forward on our state’s shared vision for long-term economic resilience. By tying capital investments to job growth, these incentives are strengthening New Jersey’s market competitiveness while at the same time rebuilding the strength of our workforce to sustain our local economies and families.”
- State Sen. Teresa Ruiz (D-Newark): “Job creation and retention are important components of tangible economic recovery, especially as our state looks ahead, toward successful recovery from the current pandemic. We have an important opportunity to build a more prosperous and equitable employment landscape in New Jersey, and Emerge awards like the one announced today will play a key role in recovery efforts by driving job creation and economic growth in impacted communities throughout the state.”
- State Sen. Paul Sarlo (D-Wood-Ridge), chairman of the Senate Budget and Appropriations Committee: “New Jersey’s recovery from COVID-19 hinges in large part on our ability to attract and retain businesses to the state and create good jobs for New Jersey residents. The Emerge Program is a critical economic development tool that will bring successful businesses to New Jersey, incentivize them to create jobs for New Jersey residents, and promote expanded economic opportunities. I look forward to seeing the impact today’s awards have on our state.”
- Assemblywoman Eliana Pintor Marin (D-Newark), chair of the Assembly Budget Committee: “This Emerge funding will be a major benefit to economically-distressed municipalities throughout New Jersey. By promoting thousands of new jobs and helping retain many existing jobs in those areas, these awards will spur growth in countless communities that need our support during difficult times. This program is a clear example of the immense benefits of responsible incentive programs, and further highlights the potential for growth that my colleagues and I envisioned while developing the New Jersey Economic Recovery Act. I look forward to seeing the economic advancements that will come about as a result of this critical economic support.”
