BY ROB DUFFEY
SPECIAL TO NEWJERSEYNEWSROOM.COM
TRENTON - One day before the Governor delivers his State of the Budget Address, a panel of local and national academics and researchers will hold a press conference and subsequent panel discussion to discuss the dramatic surge in corporate subsidies since Governor Christie took office in 2010. Participants will outline ways the state’s economic development programs can be improved and where public funds might be better spent to jump start New Jersey’s struggling economy.
Despite a massive structural deficit and a historic eight credit downgrades, the New Jersey Economic Development Authority has awarded over $5 billion in tax credits and subsidies to businesses. The list of grantees includes profitable multinational corporations like Prudential, Citigroup, and Lockheed Martin.