In the wake of the disaster in the Gulf, a clear majority of readers in our most recent poll think an extra nuclear plant would be a welcome addition to the landscape, so long as it helps wean the grid off foreign oil.
Appreciating value of Meadowlands site Poll Results PSEG’s plan to add nuclear power anY PoLiCY disCussion concerning the ated well in excess of $50 million in sales tax Corner Office meadowlands sports Complex must center on revenue alone for the state. in South Jersey: Have a hard-hitting stance on a New Jersey 4.3% the recognition that this 750-acre site is among most importantly, owners in the nation- business issue? If you are a business or the most valuable and ideally located parcels al Football League recently awarded the 2014 6.3% policy leader with a strong opinion, we of real estate in the super Bowl to the new meadowlands sta- want to hear from you. Please send op-ed tristate region. This dium — largely because of the value of the proposals to firstname.lastname@example.org. 27% previously mori- meadowlands site. new Jersey is poised to bund tract of unde- make history hosting the nation’s greatest 62.4% velopable prop- sports spectacle, and the state will reap hun- and remaining undeveloped property. Previ- erty, six miles from dreds of millions of dollars of economic ous administrations of both parties were so Times square and impact as tens of thousands of visitors stay in confident in the value of the meadowlands in view of the new our hotels, eat in our restaurants and patron- site, and more importantly, the reputation and Is a welcome move to lessen dependence on foreign oil York skyline, is now ize our businesses. management skills of the agency, they chose Comes with too many environmental risks the site of the new This is not an accident. This is an exam- to leverage these assets for projects in atlantic Seems more reasonable following the Gulf spill meadowlands sta- ple of the public and private sectors working City ($350 million), rutgers university ($46 Won’t be enough to meet future demands dium, and recently Carl Goldberg together to maximize the value of real estate. million) and the Wildwood Convention Center garnered $160 mil- Furthermore, as we seek out new partners ($40 million). These latter facilities are unre- lion from a private enterprise to develop 104 for the completion of Xanadu, what better lated to the meadowlands sports Complex, but acres of the property for what will one day be a advertisement is there for the investment were predicated on the value of the complex Oil spill putting nuclear world-class entertainment complex. potential of the meadowlands site than the and its ability to generate economic develop- Let’s be clear: land is worth only what new meadowlands stadium, ready to host ment across the state. power in green spotlight someone is willing to pay for it, and in the super Bowl XLviii? so now, quite rightly, the question is being If PSEG Is successful in its bid to expand its past several years, we have seen two profes- efforts by the new administration and asked: What next? The synergies that exist among nuclear capacity in southern New Jersey, it sional football teams invest almost $2 billion its advisers are well under way to explore the the current facilities, and the ones soon to open, may have to send BP CEO Tony Hayward a in the meadowlands. possibilities for Xanadu, the stadium and the continue to make the meadowlands sports Com- thank-you card. it’s easy to overlook the enormity of entire meadowlands site. This endeavor will plex a vibrant, world-renowned sports and enter- In the wake of the disaster in the Gulf, these investments in the midst of one of the add to a legacy that has seen the state gain over tainment destination. i would hesitate to put a a clear majority of readers in our most re- greatest economic downturns in memory. $650 million in direct benefit from new Jersey value on the complex land and its remaining cent poll think an extra nuclear plant would Clearly, meadowlands Xanadu continues to sports & exposition authority business activ- development potential without a formal analysis, be a welcome addition to the landscape, so struggle under economic uncertainty, and is ity. Projections show $80 million to $100 mil- but clearly its worth is many multiples greater long as it helps wean the grid off foreign oil. a visible reminder of what we must view as lion annually in new benefit from the activities than the remaining debt, an enviable position slightly more than a quarter of readers were unfulfilled potential. coming in the years ahead. for any commercial developer, homeowner or, in concerned enough about the environmen- however, it is an undeniable fact that the even an examination of nJsea debt serves this case, the state of new Jersey. u tal risks to remain against it. construction phase of the two venues gener- only to underline the value and importance ---------------------------------------------------- Carmen Estrada, of Translation Plus, ated thousands of construction jobs during a of the meadowlands sports Complex and its Carl Goldberg is chairman of the New Jersey
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