Murphy’s task force drops initial EDA tax incentive report

TRENTON, N.J. – Shortly after a Superior Court judge denied the request of George Norcross III to bar its release, the Murphy Administration’s Task Force on EDA Tax Incentives released its initial report.

“The task force’s investigation to date has found that special interests have had a significant hand in molding the current programs’ legislation and implementing regulations in their favor,” the report explained. “As a result, in certain respects, the programs have not been ‘neutral’ their design but have instead been structured to favor the business interests of certain parties, and in some cases to disfavor other parties.”

It wasn’t ambiguous to whom the report was referring; the panel report alleged that approximately $70 million should not have been awarded to Norcross-tied companies on the basis of allegedly misleading information supplied to obtain EDA incentives.

Click here to view the full report and exhibits.