Exciting news for basketball fans! The Philadelphia 76ers are considering a new location for their team’s arena, and New Jersey is making a strong pitch to bring them across the river to Camden. A letter from Tim Sullivan, CEO of the New Jersey Economic Development Authority, outlines an enticing offer of up to $800 million in tax credits to build a “world-class arena” as part of a larger development project in Camden.
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The Sixers initially planned to construct a $1.55 billion arena in Center City, Philadelphia. However, with negotiations with Philadelphia officials ongoing and time running out, the team is exploring all options, including the proposal from New Jersey.
New Jersey’s interest in luring the Sixers to Camden became public in July, and Governor Phil Murphy is among the state officials backing the proposal. The plan involves developing a mixed-use space on the site of the former Riverfront State Prison, north of the Benjamin Franklin Bridge.
Opponents of the Center City arena view New Jersey’s offer as a tactic to expedite the Sixers’ plans. However, the state’s Aspire program offers incentives that could benefit both the team and the community.
With financing structured to ensure a return on investment for taxpayers, the proposal promises a privately-led development that would transform Camden. The New Jersey Devils, also owned by Harris Blitzer Sports & Entertainment, showcase the success of the organization’s previous projects, such as the Prudential Center in Newark.
New Jersey’s pitch ends on a confident note, urging the Sixers to choose Camden as their new home. The City Council’s return to session and the upcoming rally by anti-arena activists signal a critical moment in the decision-making process. Stay tuned for exciting developments!