New Jersey Assembly Bill A994

New Jersey 2022-2023 Regular Session

• Introduced: 1/11/22
• Refer: 1/11/22

Caption

Requires State agencies to vacate certain property in Trenton; allows EDA to offer incentives to private entities to locate to that property.

Impact

The bill empowers the New Jersey Economic Development Authority (EDA) to take an active role in the redevelopment efforts for the Delaware River waterfront in Trenton. By stipulating that the EDA seeks to attract private businesses to fill the vacated office space, A994 is designed to stimulate economic activity in the area. The EDA is also authorized to modify its existing business assistance programs, which may include offering enhanced incentives to private entities that move into these properties, thus fostering a more appealing business climate in the region.

Summary

Assembly Bill A994 aims to require State departments and agencies to vacate their offices located at 300 and 400 Riverview Plaza in Trenton, New Jersey. The bill mandates that these offices be relocated to other suitable locations within Trenton as rapidly as reasonably possible. This move is intended to improve the potential for redevelopment at Riverview Plaza, which is centrally positioned with good access to both the Delaware River and Route 29. Key state departments, including the Department of Education, currently occupy this space, and their relocation is expected to facilitate the transition of this property for more advantageous private use.

Contention

One of the notable points of contention surrounding A994 could be the implications of state relocation on existing community dynamics and the potential for loss of public office accessibility. While proponents argue that relocation will enhance economic development and options for private entities, critics may raise concerns regarding the potential negative impact on local employment or accessibility to state services. Additionally, the effectiveness of the EDA's efforts in curating the right businesses to replace state entities remains to be assessed, raising questions about execution and follow-through in achieving intended economic benefits.