Listen to this articleThe basics:
- NJEDA grants $104.8M in Cultural Arts Facilities Expansion (CAFE) tax credits
- Liberty Science Center to receive up to $39.8M for Project Supernova
- Mayo Performing Arts Center awarded up to $65M
- Credits aim to increase attendance, economic activity & arts sector growth in New Jersey communities
Two Garden State attractions will receive more than $104.8 million in tax credits to help drive activity in and around their locales.
Last week, the New Jersey Economic Development Authority approved the incentives under the Cultural Arts Facilities Expansion – or CAFE – initiative. It marks the first awards for the program.
The credits for Liberty Science Center in Jersey City and the Mayo Performing Arts Center in Morristown will help to upgrade existing spaces and add new experiences. Both awards aim to increase attendance, and thus generate more local business within the areas of the arts and cultural institutions.
Cultural catalysts
“New Jersey is home to a thriving arts and culture sector that strengthens our state’s economy and highlights our incredible diversity and talent,” Gov. Phil Murphy commented. He went on to say expanding facilities like LSC and Mayo PAC will serve as “an economic catalyst for communities across the state.”
The NJEDA unveiled CAFE in January. Under it, awardees can receive tax credits covering 100% of eligible project costs, up to $75 million.
NJEDA Chief Executive Officer Tim Sullivan characterized the latest awards as a significant milestone in the administration’s efforts to strengthen arts and cultural institutions statewide.
Both LSC and Mayo PAC received approval for 100% of eligible project costs.
Liberty Science Center – eligible project costs not to exceed $39.8 million
At 300,000 square feet, the interactive Liberty Science Center museum hosts 800,000-plus visitors annually, according to NJEDA. Beyond its exhibits, the space also offers art exhibitions, live and media performances as well as events. CAFE incentives will support “Project Supernova.”
The effort plans to add more than 100,000 square feet of outdoor exhibition space, and to rehabilitate current exhibits, such as the Jennifer Chalsty Planetarium, NJEDA said. That feature is the largest and most technologically advanced planetarium in the Western Hemisphere.
Expressing gratitude for the support, LSC President and CEO Paul Hoffman commented, “True to the DNA of Liberty Science Center, the project is bold, forward-looking, and inclusive, transforming the Center into an all-weather campus and world-class tourist destination where learning is fun, hands-on, and accessible to all.”
Long-term work is also underway for Liberty Science Center to evolve its stature and offerings. SciTech Scity marks a collaboration with Jersey City to establish a 30-acre innovation campus. Most recently, Tech Council Ventures signed onto the Healthcare Innovation Engine as Venture Capital Innovation Lead Partner. Features of the project also include:
- Liberty Science Center High School
- Edge Works: Eight-story business incubation hub with Co-creation Center featuring a 40,000-square-foot conference center and tech exhibition gallery
- The Works: 60,000 square feet of research & development labs, workspaces and coworking areas
- Scholars Village: Residential housing developed by Alpine Residential
- Public Commons: 3 acres of outdoor activated space
Mayo PAC – eligible project costs not to exceed $65 million
With 1,300 seats, the historic Mayo Performing Arts Center has served the Morris County seat for more than 30 years. According to NJEDA, the venue contributes $18 million to the local economy and attracts 240,000 annual visitors.
The approved project will add more than 31,000 square feet of new construction, renovate more than 16,000 square feet of existing space and restore the 46,000-square-foot historic auditorium, according to NJEDA. The new work would establish a new arts and education center, artist space and studios. The updates would enhance learning opportunities and increase attendance.
“Since it began as a single screen movie theatre in 1937, to its current standing as one of the top 50 Performing Arts Centers worldwide, MPAC has been at the heart of arts and entertainment in the North Jersey region,” said Mayo Performing Arts Center CEO Allison Larena.
She said the award offers a “transformational opportunity” in the venue’s next phase, along with further elevating Morristown “as a premier arts destination in our state.”
NJEDA Deputy Chief Executive Officer Mary Maples noted both sites in Jersey City and Morristown attract thousands of guests and generate millions of dollars in economic activity. The CAFE support will allow those efforts to persist “for decades to come,” she said.
“Arts and cultural institutions in New Jersey are community pillars, creating jobs for residents, revitalizing main streets, and boosting local tax revenues,” Maples added.
