>Can urban transit hubs help revitalize New Jersey’s cities?
New Jersey’s Urban Transit Hub Tax Credit program has become popular with corporations and residential developers recently, with more than half of the program’s $1.5 billion committed to 13 projects over the past two years.
But the nine cities currently eligible for the program, which provides a tax credit of up to the full value of capital investments in very large projects within a half mile of urban rail stations, may have to share the wealth with suburban areas that can attract large construction investments that retain or create jobs. Bills moving through both houses of the legislature seek to divert $200 million initially from the cities for new Grow New Jersey credits. (O’Dea, NJ Spotlight)
