New Jersey’s current energy costs are among the highest in the nation. Allowing the TEFA to phase- out will reduce the adverse economic effect of high energy costs for all consumers.
A foundational strength of New Jersey’s economy is our high-tech and biotechnology sectors, an area that presents a clear opportunity for sustainable growth in good, high-paying jobs. Expanding this program to $60 million from the $30 million allocated in the fiscal year 2011 Budget not only increases the amount of capital that these innovative firms can raise, but also increases their odds of succeeding in the state and, therefore, increasing quality employment opportunities for New Jerseyans.
: BEIP funding to encourage growth in long-term employment is continued at the current level of $175 million.
: The fiscal year 2012 Budget includes a new $10 million infusion of funding for a program that reimburses private developers for transforming abandoned properties into usable, productive assets.