Englewood Hospital and others are nonprofits, while the Westwood hospital will "serve the business needs of their owners." Since 1992, 25 state hospitals have closed; six others have filed for bankruptcy in the past two years, according to the Princeton -bas ed New Jersey Hospital Association.
Staying the course THIS WEEK Trenton Legislation seeks to keep the state’s transportation projects on track with a $450 billion federal proposal with a focus on land use, housing and sustainability. Page 17 ® Economic Development Spotlight industry insiders praise a bill that is $2.00 JULY 6, 2009 www.njbiz.com making its way through the Legislature Joe St. Arney that would encourage employers to reduce workers’ hours instead of making Follow the Money more layoffs. Tracking federal stimulus dollars Page 6 from Washington to Trenton Waiting Real Estate for their One component of the proposed stimulus bill is an expansion of the Urban Transit Hub Tax Credit program; developers and tenants A ‘monster’ to spur development slice of could make smaller investments near urban train stations, like Newark Broad Street Station, and still be eligible for incentives. increased vacancy rates appear appetiz- ing for the state’s retail market, which is dominated by fast-food shops, discount stores and franchises. stimulus Page 8 Business groups lend support to program expansions, incentives offered by stimulus Finance By aNdreW KitCheNMaN to provide incentives for build- (D-Union) called the legislation A BILL THAT would provide broad ers. It also expands eligibility “truly a monster economic stimulus economic incentives to New Jer- for the Urban Transit Hub Tax bill,” terming it the most important Business owners say funds sey developers is gathering sup- Credit program, temporarily halts legislation for New Jersey’s econo- haven’t yet trickled down port from business groups, but not affordable-housing fees levied on my that he has sponsored in his 32 without raising fiscal and land-use commercial builders, allows rent- years in office. By MartiN C. daKS objections from critics. al-car tax increases around New- The stimulus has passed both NEW JERSEY WAS the first state in the The proposed New Jersey ark Liberty International Airport houses of the Legislature, and now nation to get one category of funding a tough economy calls for re-evaluat- ing insurance policies. experts advise Economic Stimulus Act of 2009 and promotes construction on col- awaits the governor’s signature. under the federal American Recov- even small, private businesses need to lets the state and towns dedicate lege campuses. The bill allows the state and ery and Reinvestment Act, commonly protect themselves from employment tax receipts from development State Sen. Raymond Lesniak ➤➤ See bill on page 4 known as the stimulus package, which practice lawsuits. was designed to kick-start the national Page 11 economy at a cost of about $787 bil- Hostile reception for proposed hospital lion over its 10-year life. Sales Tips But nearly four months after ARRA Page 12 was signed into law, with more than $1 Opinion billion funneled into New Jersey’s cof- Critics say North Jersey already has too many beds Hackensack University Medical fers, some small-business owners are our Point of View: The economic stimu- Center (with 65 percent equity) lus act of 2009 is a good start, but law-
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