(TRENTON) – Assembly Speaker Craig Coughlin (D-19) announced today that the Assembly Commerce and Economic Development Committee (chaired by Assemblyman Gordon Johnson of Bergen County) will conduct hearings to examine tax incentive programs in the New Jersey Economic Development Authority:

“It is obvious that the legislature needs clarity in terms of how the New Jersey Economic Development Authority is doing business,” Coughlin said.

“We plan to schedule hearings conducted by the Assembly Commerce and Economic Development Committee to fairly examine the tax incentive programs administered by the EDA, study the efficacy and viability of the programs and ensure we are maximizing the return on our investments,” the speaker added.

“The current tax credit programs are set to expire next month and we need to determine what is working best.

“Tax incentives are an important tool to allow New Jersey to compete with other states in maintaining existing jobs and attracting new ones.

“A complete list of times and dates for the hearings will be made public when finalized, at which time a full list of invited guests who will be asked to provide testimony will also be provided.”