Governor Phil Murphy plans to auction tax breaks to businesses as part of a plan to double venture-capital investments in New Jersey by 2025.
Returning to campaign theme -- that New Jersey was a technology leader before it lost its way -- the 61-year-old Democrat wants the state to be a national center of innovation. Key to the plan is establishing a $500 million fund fed by bids for corporate tax breaks and matching funds from venture capital. By 2025, he’s shooting for the program to generate $625 million in venture-capital investment in the state.
Image: Phil Murphy Photographer: David Paul Morris/Bloomberg
