52:39-2 Findings, declarations relative to development subsidies.
2. The Legislature finds and declares that:
a. Although the State has granted numerous tax incentives, grants and other economic development subsidies during the last 25 years, the inflation-adjusted wage level for a large portion of New Jersey workers has declined, as has the percentage of working families in New Jersey with health care coverage;
b. Some programs providing economic development subsidies lack measurable job creation goals, and in some cases, businesses have closed, relocated or outsourced facilities or jobs for which subsidies were provided to sites outside of the State;
c. Citizen participation in economic development has been impeded by a lack of readily accessible information regarding expenditures and outcomes; and
d. It is therefore appropriate, in order to improve the effectiveness of expenditures for economic development and to ensure that they achieve the goal of raising living standards for working families, that the State collect, analyze and make public information regarding those expenditures.
L.2007, c.200, s.2.
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