In its attempts to lure an offshore wind company to set up shop in New Jersey, the Legislature passed a 2010 law granting $100 million in tax credits to any manufacture that opted to call the Garden State its home port.
The $100 million credit may sound like a sizable sum, but no offshore wind outfit took up the offer in the past two years — and the proposal was set to be rescinded by the end of 2012 (which is exactly what happened).
But New Jersey wasn’t just banking on a wind-turbine manufacturer that could give it a foothold in the offshore-wind sector (although that would have been a good beginning). It was hoping that this same manufacturer could jump start an entire green industry, replete with jobs, revenues, and a sizable tax base.
Listen in as Tom Johnson, energy editor for NJ Spotlight, sits down and and the possible outcomes with Alan Tu, managing editor of WHYY/newsworks.