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New Jersey Governor Signs $14.5 Billion Tax-Incentive Legislation

Commercial Real Estate Industry Supports New Economic Recovery Act
New Jersey Gov. Phil Murphy picks up some treats at Carella's Chocolates & Gifts in Hamilton, New Jersey, on Thursday before signing tax-incentive legislation outside the store. (Josue Lora/New Jersey Governor's Office)
New Jersey Gov. Phil Murphy picks up some treats at Carella's Chocolates & Gifts in Hamilton, New Jersey, on Thursday before signing tax-incentive legislation outside the store. (Josue Lora/New Jersey Governor's Office)
CoStar News
January 7, 2021 | 11:14 P.M.

New Jersey Gov. Phil Murphy signed into law a sweeping $14.5 billion tax-incentive package that the Garden State's commercial real estate community says addresses flaws in past incentive plans, will retain and attract businesses, promote development and jump-start the state's economic recovery in the pandemic.

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