CITY OF PATERSON RECEIVES ADDITIONAL $20M IN TAX CREDITS
Paterson is committed to further economic development.

Mayor Andre Sayegh together with Governor Phil Murphy and Congressman Bill Pascrell today announced that the City of Paterson has been awarded an additional $20M in tax credits. The tax credits have created the opportunity for catalytic projects in the city that aim to support economic development.

The additional $20 million in tax credits will be made available for projects that are being built with the support of the Economic Redevelopment and Growth Grant (ERGG) program. In 2019, the City of Paterson received $130M in tax credits funding from the state Economic Development Authority (EDA). The tax credits will benefit projects that are fundamental to Paterson’s infrastructure and economic development, including the Ward Street Parking Garage, renovations that will include additional commercial space for the downtown area, rehabilitation to the 431 space ‘Blue Garage’, grandparents raising grandkids housing complex, the Alexander Hamilton Visitor and Education center, and the Hinchliffe stadium, housing and parking project.

“We are profoundly grateful to Governor Murphy, Congressman Pascrell, and our state legislators for their commitment to the City of Paterson,” said Mayor Andre Sayegh. “Today’s announcement is indicative that Paterson will rise again. We stand ready and willing to support the creation and enactment of additional economic incentives.”

“We fought for Hinchliffe to be a National Historic Landmark in 2013. And we expanded the park Boundaries with the Hinchliffe Heritage Act in 2014 because Hinchliffe has played such a vital role in our community’s history,” said Rep Pascrell. “Our announcement today is welcome news that will build on our progress to preserve this stadium. All of us look forward to the rejuvenation of Hinchliffe and await the rebirth of this reliquary into not just an artifact of history, but a living resources out residents can use enjoy. Thank you to Governor Murphy and Mayor Sayegh first and foremost for your leadership.”

“When Congressman Pascrell and I pushed to have Hinchliffe Stadium included in the Great Falls National Historic Park, it was with the firm belief that the historic landmark could serve as the centerpiece for the renewal and revitalization of downtown Paterson,” said U.S. Senator Bob Menendez.  “These state investments will help restore the old Negro League ballpark, where greats Josh Gibson, Oscar Charleston, Monte Irvin and Paterson’s own Larry Doby played, to its former glory and spark commercial and residential redevelopment in the heart of the city.  It’s a huge win for Paterson and its residents.”

“I am thrilled that Hinchcliffe Stadium, the historic site that played host to Larry Doby, Satchel Paige, and more than a dozen other members of the Baseball Hall of Fame, will have its second act,” said Governor Phil Murphy. “This stadium, which for so long was both a cultural and social anchor of the community and a nationally-recognized symbol of Paterson’s vitality, will once again become a focal point for this great city. Hinchcliffe is not just a ballfield – it is New Jersey’s Field of Dreams.”

The announcement took place at Hinchliffe stadium. The stadium is planned for a complete revitalization and restoration and is a representation of various levels of government working together to make this an American project of national commitment.