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Proposed Bill Would Aid Towns Losing Large Companies

Legislators introduce measure drafted in response to Roche closing in Nutley that would grant municipalities tax relief when large companies pull up stakes.

When Nutley-based pharmaceutical giant Roche Pharmaceuticals, the township’s largest employer and tax revenue source announced last June it planned to leave at the end of 2013, township officials scrambled to find a new tenant.

The 119-acre campus, which employs 1,000 full-time and 1,000 part-time or contract workers, would leave a void in the community, officials said. 

State lawmakers are attempting to do their part to help municipalities in similar situations by introducing legislation on Tuesday called the Corporate Disinvestment Property Tax Relief Act, which would grant municipalities tax relief when a large business decides to leave, according to a report on NorthJersey.com.

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