Listen to audio version of this article
Covering today’s state Economic Development Authority meeting, NJBIZ reporter Daniel Munoz quoted Chair Kevin Quinn in what critics of the under-investigation EDA tax incentive program would likely cite as a damning disparity.
According to a tweet by Munoz (fleshed out in a full story here), Quinn said that of 25 Camden County projects they looked at which won tax breaks, “only 26% of the constructions jobs went to county residents and only 2% went to Camden City residents.”
The Philadelphia Inquirer published the full report here.
Governor Phil Murphy appointed Quinn as EDA chairman in April, noting that he would be integral to implementing the Governor’s plans for reformed state tax incentive programs focused on growing New Jersey’s communities and investing in residents.
Quinn is the founder of Genki Advisory, an advisory and investment firm focused on early stage companies. With a portfolio of over 30 companies, Genki Advisory has invested across the tech, consumer and health care sectors.
For over 20 years, Quinn was employed at Goldman, Sachs & Co., where he worked with high tech companies in the firm’s investment banking division. Kevin served in a number of senior roles in Goldman Sachs’s New York, San Francisco, and Tokyo offices. In 2012, he retired as a Partner and Co-Head of the Global Technology Banking business. Prior to his time at Goldman Sachs, Kevin worked as a consultant at Bain & Co. in its Boston office.