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Kyrillos Votes No on Digital Media Bill
By mpealSenator Joseph Kyrillos, (R-Monmouth-Middlesex), voted no today on digital media legislation he had co-sponsored after Governor Corzine did a conditional veto that reduced the tax credits offered to digital media companies from $20 million to $5 million.
“I voted against this legislation today because I do not believe that the Governor conditionally vetoed this measure—as far as I am concerned this was an outright veto.”
“The Governor’s actions sent a very bad signal to the investment community about New Jersey and the willingness of state government to be a partner for future growth and job creation. For those reasons I could not support this legislation as amended.”
Digital media content includes information that is intended for consumption over the Internet and is produced in digital form with text, graphics, photographs, animation, sound and video content.
In its original form the measure would have provided to attract high-tech businesses producing digital media to New Jersey. A recent report commissioned by NBC Universal contends the tax break would create 6,850 new jobs and generate more than $1.5 billion in new economic activity for New Jersey.
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