The New Jersey Economic Development Authority on Tuesday unanimously approved an $82 million incentive package to build a practice league along the waterfront in the South Jersey city and Camden Mayor Dana Redd said this move would act as a catalyst to bring more big-named entities to the city there.
“I think the announcement just sets us up,” Redd told Metro on Tuesday. “It just brings such pride, especially for our young people. There’s such a fanbase on the other side of the river.”
The new facility will house the team’s business and business operations staffs as well. Ground is expected to break this October.
Sixers officials brought the idea to Camden earlier this year, Redd said. She said that N.J. Gov. Chris Christie’s tax incentive bill helped entice the team’s officials to building the facility in Camden.
“The message is that Camden is a great place to grow and invest a business,” Redd said, adding that the scope of the program should be touted nationally.
By the numbers
$76 million — The projected net benefit for the state of New Jersey over 35 years