Powerful South Jersey Democrat's business to get $86M tax break, report says
An insurance company run by George Norcross, a longtime Democratic powerbroker and ally of Gov. Chris Christie, received a tax break totaling $86 million in connection with a proposed Camden office building, NorthJersey.com reported.
The state Economic Development Authority granted a total of $245 million in tax breaks over 10 years to three companies planning to build the office tower in Camden, including Conner, Strong and Buckelew, an insurance company headed by Norcross.
The firms have pledged to create nearly 900 jobs in Camden and would occupy the 18-story tower, which is scheduled to be completed in 2019.
Although he does not hold elected office, Norcross, an effective Democratic fundraiser, wields considerable influence in South Jersey politics, last year drawing criticism from elected North Jersey officials over his alleged behind-the-scenes role in crafting a bailout plan for Atlantic City.