Tax breaks are used to attract development, so why not to attract a star-studded concert?
That’s the thinking behind a proposed bill in New Jersey to attract headline shows to Atlantic City. The bill would give performers a tax break as an incentive to appear in the resort.
New Jersey Senate Minority Leader Thomas H. Kean Jr. announced legislation that would let major entertainers skip paying income taxes on money they earn performing anywhere in New Jersey if they also play four dates in Atlantic City’s tourist district within the same calendar year.
“We can positively change Atlantic City’s image to be more attractive, widely accessible and entertainment-based, while enhancing job and economic growth opportunities at and around entertainment venues across New Jersey,” Kean said in a statement.
Kean pointed to Las Vegas’ strategy of booking major acts for months-long stays.
“This bill will naturally enhance and transform the marketing and publicity for Atlantic City. It means that more jobs, development, tourism and revenues for the city and state,” Kean said. “It will also open up positive economic opportunities in other venues across New Jersey. The net benefits will be extraordinary.”
The bill will be introduced in the next full Senate session.
