follow us:Google+ FacebookLinkedInTwitterRSS Feeds

advertisement

Christie applauds American Dream deal, says project will create 'thousands' of jobs

By

Back to Top Comments Email Print

Latest News

advertisement
Gov. Chris Christie applauded the deal between Triple Five and the Giants and Jets owners on Wednesday.
Gov. Chris Christie applauded the deal between Triple Five and the Giants and Jets owners on Wednesday.

A deal struck between developer Triple Five, the New Jersey Sports and Exposition Authority and the Jets and Giants owners will be a boon for the state, Gov. Chris Christie said Wednesday.

Not only will it result in the "immediate recommencement" of construction on the previously stalled American Dream project in East Rutherford, but the project will create "thousands" of new construction and permanent jobs while at the same time generating tens of millions in sales and payroll taxes for the state and revenue for Bergen County municipalities, Christie said.

"Having been an advocate for this project since the beginning, I am extremely pleased that American Dream is now finally moving forward," Christie said. "This project will bring thousands of construction jobs and full-time employment to the Meadowlands and be an engine of economic growth for the entire region."

The project is slated to include a fully enclosed amusement park, indoor water park, theater and indoor ski facility. It sits on the site of the failed Xanadu retail and entertainment complex in the Meadowlands.

"Once it's completed and has opened its doors, American Dream will be a dynamic, world-class tourist destination for years to come," Christie said. "I thank everyone involved for their good-faith efforts working together to make American Dream a reality."

News of the deal was first reported by The Record on Tuesday and later confirmed by NJBIZ through Triple Five spokesperson Alan Marcus.

RELATED: Giants, Jets reach deal with Triple Five over American Dream project

The Jets and Giants had filed lawsuits in 2012 and 2013 to block the proposed expansion put forth by Triple Five, the Canada-based developer that owns the Mall of America in Minnesota, saying it would cripple game-day traffic near MetLife Stadium.

The agreement in place calls for all parties to put forth several mass transit and traffic improvements to complement the parking management plan that has been designed for Meadowlands visitors, especially on days the Jets and Giants play at home.

"This agreement is a huge milestone for the MetLife Sports Complex and the state of New Jersey and crucial in advancing the administration's long-established goal of delivering a world class sports, retail and entertainment destination in the Meadowlands," NJSEA president and CEO Wayne Hasenbalg said.

The project, which now stands as an incomplete five-story building, received a boost in November when the Economic Development Authority approved a $390 million Economic Redevelopment and Growth grant — the largest ever of its kind — for Triple Five to finish it within a six-year time period.

At the time, project costs were estimated to total $2.5 billion.

ALSO ON NJBIZ:

Motor Vehicle Commission approves regulations banning Tesla stores in state

New polls show Christie's job approval rating, trustworthiness down

Aetna, Atlantic ACO announce new agreement

Share This Story On:
Andrew George

Andrew George

Andrew George covers the Statehouse from NJBIZ's Trenton bureau. Born and raised in N.J., Andrew has also spent time as a reporter in D.C., Texas and Pa. His email is andrewg@njbiz.com and he is @AndrGeorge on Twitter.

advertisement

Comments


Be the first to comment.



Please note: All comments will be reviewed and may take up to 24 hours to appear on the site.

Post Comment
     View Comment Policy

Advanced search
Sponsored by
advertisement
  
  
advertisement
  
  
advertisement
Back to Top