New Jersey is making a bid to attract the Philadelphia 76ers across the river by proposing up to $400 million in tax credits for a significant waterfront development project. Governor Phil Murphy’s administration detailed a grand plan for a multi-billion dollar mixed-use development in Camden, with the Sixers as a central component, in a letter sent on Monday by Economic Development Authority CEO Tim Sullivan. This move comes amid negotiations between the team and Philadelphia regarding a new $1.3 billion arena near Chinatown, where the team had initially planned to build. The team does not intend to stay at the Wells Fargo Arena once its lease expires in 2031.
The Sixers, who already have facilities in Camden, view New Jersey’s offer as enticing, though they are still engaged in discussions with Philadelphia officials regarding their arena plans. The team is under time constraints to secure a deal for their new arena in time for the 2031-32 NBA season. The spokesperson for the Philadelphia mayor’s office opted not to comment on New Jersey’s proposal or the progress of Philadelphia’s negotiations.
Governor Josh Shapiro of Pennsylvania expressed his desire for the team to stay in Philadelphia and stated he has not been approached for tax incentives. He stressed that the Sixers are an integral part of Philadelphia’s identity. The team’s potential move to a location near Chinatown has raised concerns among some in the community about potential impacts on street parking, traffic, and local events.
New Jersey’s pitch follows recent legal action taken by the state’s attorney general against a Camden Democratic power broker, a former mayor of the city, and others. They face criminal racketeering charges related to tax incentive legislation, which they deny and are challenging in court. It has been clarified that the proposed site for the 76ers’ location in Philadelphia is near, not within, the Chinatown neighborhood.
