REPORT: Feds Investigating NJ EDA Tax Incentive Program

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“Federal authorities in Philadelphia have launched an investigation in connection with New Jersey’s multibillion-dollar corporate tax-incentive program, according to three sources with knowledge of the probe,” according to The Philadelphia Inquirer.

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FBI agents have interviewed potential witnesses over the last month, sources said. Among their areas of interest has been the development boom in Camden, which has been fueled by $1.6 billion in tax breaks that the state’s Economic Development Authority awarded to companies there since 2013, according to one person briefed on the matter. Each of the sources spoke on condition of anonymity.

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