BUSINESS REPORT

AP: Economic Development Authority probe cost taxpayers $8M

BY Rhonda Schaffler, Correspondent |

The Associated Press says taxpayers are on the hook for an $8 million bill following a task force investigation New Jersey Economic Development Authority tax credits. But the Murphy administration says the investigation has led to the voluntary termination of awards, which is saving taxpayers money.

Despite the controversy over tax breaks, another tax incentive program is being expanded. Gov. Phil Murphy signed a bill that expands the tax incentive program for the film and digital media industry for another five years.

The city council in Jersey City will consider a measure to increase parking fees for non-residents in order to pay for mass transit projects.