New Jersey S4569 allows political subdivisions to require developers to enter community benefits agreements for economic development subsidies over.
New Jersey S4569 authorizes political subdivisions to condition economic development subsidies over $100,000 on the grantee's promise to enter into a community benefits agreement. These agreements require contractors and developers to make specific contributions for the benefit of the community, including local hiring, area wage and benefits standards, and engaging local businesses. The bill defines "economic development subsidy" and "community benefits agreement" and specifies that the act takes effect immediately.
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