New Jersey offers tax incentives to get a new Sixers arena in Camden

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New Jersey is making a push to lure the Philadelphia 76ers to Camden with millions of dollars in tax credits as team owners pursue constructing their own arena.

First reported by ROI-NJ, a letter sent to Sixers ownership from the New Jersey Economic Development Authority and signed by Gov. Phil Murphy said they are “committed to bringing the 76ers to Camden.”

“We envision a multi-billion dollar privately-led comprehensive mixed-use development north of the Ben Franklin Bridge that would serve as a transformative catalyst for Camden and New Jersey,” the letter released Monday said. “Anchored by a world-class arena, we believe that this project will enable development of significant residential, commercial, and retail offerings within the City of Camden. We also recognize the importance of incorporating open space and pedestrian-friendly amenities into this potential game-changing development project for our state.”

The pitch promises $400 million in tax credits to build the arena and “transform” nearby residential and retail at the site of the former Riverfront State Prison, just north of the Ben Franklin Bridge and Rutgers University–Camden.

New Jersey’s effort comes just days after Philadelphia city officials released four independent reports that found a new arena in Center City would likely hurt small businesses in neighboring Chinatown and cause traffic congestion in the area.