June 26, 2014 |
TRENTON - In an evening of drama, New Jersey lawmakers nearly fast-tracked a bill through the Legislature that would have made "Renaissance" schools in Camden eligible for tax credits and would offer early retirement benefits to certain employees of the public school district. At the eleventh hour, however, a Senate panel pulled the part of the measure pertaining to the tax credits. The bill, sponsored by Assemblyman Troy Singleton (D., Burlington) and Sen. James Beach (D., Camden)
June 17, 2014
ISSUE | VOUCHERS Doing well while doing good Even though July 1 is an important business deadline, it's off the radar for too many company owners. That's the deadline for firms seeking a tax credit to make a meaningful contribution to education in their communities through the Educational Improvement Tax Credit and the Opportunity Scholarship Tax Credit. The first usually is oversubscribed, so last year the budget was increased to $100 million. The state Department of Community and Economic Development, however, estimates that as much as $20 million in these credits could remain unclaimed.
June 15, 2014 |
The proposed veterans housing project at the historic Whitehall Inn in East Vincent Township suffered another setback Thursday when it was denied for a second year in a row the state tax credits it needs to become a reality. Mission First Housing Group, a Philadelphia-based developer, was hoping to get low-income housing tax credits that would make up more than 80 percent of the $9.63 million it needs. Thirty-five of the 48 units would be reserved for veterans. The developer, Chester County officials, and community groups that support the project had been confident it would go forward this year.
June 12, 2014 |
In one of the most generous development deals in state history, New Jersey awarded the 76ers $82 million in tax credits over 10 years to build a practice facility on Camden's waterfront. The dollar-for-dollar exchange allows the Sixers to recoup every cent they spend - not to exceed $82 million - on construction of a 120,000-square-foot state-of-the-art facility and team headquarters. For Camden, it means 250 new jobs - about 200 of which are already filled by Sixers administrators, players, and staff - and the hope that the state-of-the-art behemoth lures additional developers to its tax revenue-strapped city.
March 25, 2014 |
THE QUESTION, posed last week on "Philly Sports Talk," was simple in nature. Who is more responsible for the Flyers' success: Craig Berube or Claude Giroux? Off the cuff, my choice was Giroux. The thought: Coaches don't score goals - and it isn't often in professional hockey that coaches win games. Giroux has scored more points - 54 in his last 39 games - than any player in the league since early December. With his name percolating in the race to join Sidney Crosby as a Hart Trophy finalist, Giroux has played out of his mind over the last few months to turn the Flyers from a playoff joke to a playoff lock.
March 14, 2014 |
THIRD-RANKED Villanova (28-3) just won its first outright Big East regular-season championship since 1982, after being picked to finish fourth in the preseason poll. So was there any way Jay Wright wasn't going to get voted the conference coach of the year? "No one gets individual awards," Wright said after the news became official late yesterday afternoon in New York. "I actually talked to the players about that. If your team's not good, there's less chance that you get recognized.
March 10, 2014 |
Will "Obamacare," for all its start-up pains, ultimately prove a boon to the economy beyond its chief purpose: providing universal access to affordable health insurance, as in every other industrialized nation? I argued so last month, after widely misportrayed projections by the nonpartisan Congressional Budget Office predicted the Affordable Care Act (ACA) would reduce "job lock," the impetus to stay in a job only for health coverage, say, for a hard-to-insure spouse. Ending job and entrepreneurship lock should spur people to pursue their talents and ambitions, to all our benefit.
March 3, 2014 |
Consumers have always had a twisted relationship with the credit-reporting industry. The three key national players - Experian, Equifax, and TransUnion - each maintain files on more than 200 million Americans. But their primary business has always been about us, not with us. And that has led to maddening, costly, and even financially harmful results - say, when they get something wrong in your records but don't seem to care much about fixing it. Thankfully, the new Consumer Financial Protection Bureau has stepped into the breach, by trying to untangle this Gordian knot of commercial interests and lack of interest.
February 27, 2014 |
Many business concepts begin with a market problem. For partners Aqil Jones, Saiyd Muhammed, and Ladia Hinton, it was a design flaw in the standard-issue niqab , or Islamic face veil - which, it turns out, is ideal for maintaining modesty, but less so for eating or drinking. Their solution: The ZipNiqab. Instead of lifting, flicking, or tucking her veil, a woman can zip it open and snap the fabric in place behind her head for hassle-free dining. In 2011, they tapped their savings, ordered the first run of ZipNiqabs, and began selling them to clients in Europe, Asia, and here in Philadelphia.
February 27, 2014 |
DELANCO The New Jersey Economic Development Authority has offered Dietz & Watson Co. $30.8 million in tax credits to rebuild a meat storage plant in Delanco destroyed by fire last year. Officials of the Philadelphia-based cold-cuts company did not return requests for comment Tuesday, or indicate if they were considering offers from other states for assistance to rebuild. The blaze started on the roof of the firm's main distribution plant early Sept. 1, and took 11 area fire companies two days to bring under control.