Oil spill putting nuclear power in green spotlight by ProQuest


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									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 editorial@njbiz.com.                            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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