N.J. OKs $17M in tax credits for company bringing 178 jobs to Trenton

The South Jersey Times ^ | March 17, 2017 | Cristina Rojas

[2ndDivisionVet]

TRENTON -- A tech company is choosing to relocate to Trenton over Wilmington, Delaware, after securing more than $17 million in state tax credits.

The state Economic Development Authority on Thursday approved the Grow New Jersey tax credits for Maestro Technologies, a technology consulting and data management systems firm.

Now headquartered in Edison, Maestro has a small office in Watchung and several employees who work remotely or at client sites across the country.

CEO Kamal Bathla says the company wanted to centrally locate the staff into a new headquarters to better facilitate training, efficiency and product development.

Maestro was deciding between a 40,000-square-foot space at 1 West State St. in Trenton or a similarly sized space in Wilmington, Delaware, where it has an existing customer base and staff, but ultimately chose New Jersey because the state offered a better incentive package.

The credits will be doled out over 10 years -- $1,735,500 each year....

[eyedigress]

In the case of Northern Manufacturing moving South, you have no case.

[mewzilla]

NYS has a lot to offer. All bad. Which is why NYS has to bribe, and even then the state is hemorrhaging taxpayers, jobs and House seats. We lost 2 of the latter after the 2010 census. We’re gonna be bugging out after retiring. And there’s a rumor going ‘round the NYS legislature is thinking of enacting an exit tax on fleeing homeowners. This bloody state oughta have “Abandon all hope ye who enter here” on the welcome signage.

[eyedigress]

The Union went nuts when Boeing started to move south.

Why would Boeing do this?

Money.

The Northeast and Northwest is a tax hellhole.
(I will leave California out of this for now)

What do these taxpayers get?

[Garth Tater]

And how does "the case of Northern Manufacturing moving South" factor into the morality of granting political favors to politically connected businesses?

Political corruption stinks in the north as well as the south.

[eyedigress]

When everybody finds out you can have a Mansion on a river for 300K they will swoop. The problem may be selling that existing property.

Get out now.

[eyedigress]

You have defined your 10th. The states determine the tax.

Washington State is a tax hell.

[Garth Tater]

You have digressed beyond my ability to understand what you are talking about. Have a nice day.

[eyedigress]

You could not name me one thing that the left taxes that benefits anybody but the government.

The borders of tax were written long ago.

[mewzilla]

There are $200k to $275k homes in my neck of the woods that aren’t selling. Mortgages are doable, but buyers don’t want to assume the 8k to 10k property taxes on them.

[mewzilla]

Just took a really quick at the real estate market in Trenton. Holy cr@p.

[eyedigress]

I have friends that are moving out here in droves.

The Carolinas market is hot. I have my own place to consider later on and it will be paid cash front.

BTW it is not in the Carolinas.

[eyedigress]

10% of the tags on the cars are NY,NJ and MD.

This is the Raleigh to Charlotte corridor.

[mewzilla]

Where we move to is going to have lower taxes, healthier state finances, and a higher proportion of makers to takers. Everything else is negotiable.

[Garth Tater]

You could not name me one thing that the left taxes that benefits anybody but the government.

Again, I don't understand your point. The granting of political favors to politically connected businesses is corrupt at its very core and whether the left taxes only for the benefit of government or not has no bearing on this fundamental truth. You have a problem with taxes benefiting the govt? Fine. So do I. Do I consider that to be a fact that justifies a clear case of corruption? No, but I guess you do in some strange way.

[eyedigress]

My secret place will be Loudon County, TN.

I have noticed that SC has some wonderful spots NE of Columbia.

I am in Cabarrus County, NC right now and it is pretty good.

Gonna have a nice dinner @ Fahrenheit next week on floor 21.

[eyedigress]

If a company comes in and says I will create 1,000 taxpayers to offset your bill, how is that a political favor?

[Garth Tater]

In this case the tax abatement was given to one company and not offered to all other companies. It was a deal made between POLITICIANS and a POLITICALLY CONNECTED company that other members of the business environment were not able to participate in. The company benefited from the action of the politicians, ergo, it was a political favor.

If there was a law written that said something along the lines of "all companies creating jobs in the State of New Jersey will receive xxx dollars of tax abatement per job" then you would have a point but in this case the "deal" was done by politicians solely to benefit Maestro Technologies and is a clear case of political corruption commonly know as crony capitalism and you have no point.

[eyedigress]

You seem to be on top of this.

Maestro Technologies says it will bring 178 jobs for less government regulation.

The government says OK. Tell me who else was competing and said they could do the same?

[eyedigress]

If you can point out a competitor that wanted favorable treatment from taxation, I would consider your point.

Given that you cannot do this means you are against job creation and flexibility in taxation.

I suggest a reading of NJ law or any state law for that matter.

Reference one is TN beating AL for 100mil on Volkswagon.

[Garth Tater]

Tell me who else was competing and said they could do the same?

That's not the point. The point is ALL other companies were not offered the same deal. Please don't bother trying to justify your support of corrupt political deals to me any further, I won't be listening to your foolishness.