Bill aims to encourage economic growth in the Highlands

| 29 Sep 2011 | 09:48

    West Milford - A bill is being introduced into the state assembly that may give West Milford the economic boost it needs. State Assemblyman Joseph Pennacchio (R) came to town to discuss the bill which would decrease sales tax in townships that are at least 99 percent covered by the Highlands Act. Pennacchio said the Highlands Act is not business-friendly and no master plan has been presented to the public. “That master plan should have been ready last summer and we’re still waiting for it,” he said. There are six municipalities involved. They are West Milford, Ringwood, Glen Gardner, Califton, Bloomsbury (all 100 percent within the Highlands area) and Lebanon (99 percent). Pennacchio said the tax break has worked in urban areas such as Elizabeth and Newark and feels that the state should allow other townships, which are suffering from a lack of economic growth to participate in the program. He said there are several locations within the town which should not be vacant after one year, such as the old Blockbuster near across the street from town hall. The tax break would encourage outside businesses to fill in storefronts and allow residents to shop in town instead of going to the larger stores and malls in surrounding municipalities, he said. Pennacchio said that the bill is not looking to attract major department stores like Wal-Mart, because there is no land to develop on, but to encourage the economic growth within the retail businesses that already exist. He said the Highlands Act prevents economic growth and the state should alleviate the burden of taxes that is now being carried by local residents. Sal Shimmenti, Republican council candidate, runs a chiropractic office in the Bearfort shopping plaza and finds the bill an ideal solution. He said a lower tax rate would encourage economic growth. The township’s Chamber of Commerce has not been contacted for their support of the bill but will be in the near future, said Frank Hannon, resident. Speaking as a Republican, he added, “We’re working for tax relief, not just talking about it.”