Business Retention and Relocation Assistance Act Annual Report

The Business Retention and Relocation Assistance Act was signed into law on June 30, 2004. This Act revised a retention program from 1996 and gave the State new tools in the effort to retain jobs under threat of leaving New Jersey. On January 13, 2008, the Business Retention and Relocation Assistance Act was amended by P.L. 2007, c.310, which reduced the program’s eligibility threshold from 250 retained full-time jobs to 50 retained full-time jobs. The Christie Administration and New Jersey State Legislature recently completed statutory revisions pursuant to P.L. 2010, c.123, to enhance the effectiveness of this key economic development and growth incentive for businesses committed to retaining jobs in New Jersey.