TLP: New Jersey Economic Policy Now Subject to Governor's Taste
Companies looking to expand or locate their business in New Jersey now know they can't count on the state government to make good on the economic incentives it promises.
Gov. Chris Christie of New Jersey on Monday blocked a $420,000 tax credit that the state’s Economic Development Authority had approved last week.Wonder how difficult the fiscal climate would be down the Shore without MTV's money and all the related spending by companies sucking up to the production, servicing the wannabe Guido tourists, creating jobs just because America can't look away from this freak show.
Was the loser a high-tech startup? An alternative energy company, perhaps?
No. It was Snooki and the Situation.
The production company behind the reality series “Jersey Shore” had applied for the credit, intended to expand film and television shooting in the state, to help cover costs for its inaugural season in 2009.
Mr. Christie said he was “duty-bound” to see that taxpayers were “not footing a $420,000 bill for a project which does nothing more than perpetuate misconceptions about the state and its citizens.”
“In this difficult fiscal climate,” he wrote to Caren S. Franzini, the chief executive of the Economic Development Authority, “the taxpayers of New Jersey should not be forced to subsidize projects such as ‘Jersey Shore.’ ”
Or worse, how the New Jersey economy will fare when executives negotiating with Christie's economic development officials start saying fuck it and go somewhere else.