Looking to recover the more than 260,000 jobs lost during the economic downturn, New Jersey Governor Chris Christie is banking on increased tax incentives to get more companies to hire in the state.
Since taking office last year, Christie has approved a record $1.57 billion in tax breaks for some of New Jersey's largest companies, including Panasonic, which received $102 million to move its headquarters to the state last year, according to The New York Times.
"This project directly benefits New Jerseyans by keeping over 800 jobs here, creating up to 200 new, permanent positions, and spurring private investment," Christie said at Panasonic’s groundbreaking last October.
Christie is hoping the incentives will create more positions for workers with a variety of qualifications who have attended a career training college or with other employable skills. Panasonic, Goya Foods, Prudential Insurance and Campbell's Soup have all promised to add more than 2,300 jobs over the next decade.
According to the Bureau of Labor Statistics, professionals with a postsecondary degree can earn $500 more per week than those with a high school diploma or less.