■ Environmental Business
Continued From Page 18 to the business leaders gathered for that conference that reforms being implemented are not meant to be punishment . “ Change is necessary but it ’ s a question of how to pace it .”
If some of the buildings devastated by Ida last year had been elevated another foot or more , “ we would not have seen the displacement that we saw ,” the commissioner contended .
One of the consultants in the audience told the speakers that a client has complained that New Jersey is over regulated and too expensive to attract businesses . But LaTourette bristled at the remark , calling is “ backward ” thinking .
“ Everybody is in this transition , whether we like it or not ,” he said .
New Jersey cannot wait any longer to take action , the commissioner maintained . He noted the sudden floods that occurred in Bergen County recently , the arid conditions choking Salem County ’ s farmlands and the wildfires that engulfed the Pine Barrens in June . “ We don ’ t need to be scared . But we need to be more ready ,” LaTourette said .
Agnes Antonian , an environmental attorney with the Connell Foley law firm , and Jeff Entin , a principal at SLR International Corp ., an environmental consultant , also gave an overview of climate change regulations and policies during the conference . Since it is an evolving issue , Antonian said “ it ’ s scary to all
of us because we don ’ t know how it will impact our home or our business .”
Entin had combed through the federal Inflation Reduction Act which was approved by the U . S . Senate early in August . Even though the legislation is said to target inflation , he noted it calls for $ 369 billion in new climate spending . Some of the spending is designed to lower consumer energy costs through a rebate program and tax credits . It also provides tax credit for the purchase of a new ($ 7,500 ) and used ($ 4,000 ) electric vehicle . The credit program is schedule to begin in 2024 . But Entin noted the parts for the vehicle and even the minerals used must come from North America or free trade countries .
There are also incentives and tax credits in the legislation to accelerate “ clean manufacturing .” It sets aside $ 60 billion for on shore clean energy manufacturing and provides $ 30 billion in production tax credits for U . S . manufacturing of wind turbines , batteries and critical materials .
The legislation also appropriates $ 60 billion in environmental justice priorities , including funding for clean vehicles , reduction of air pollution at ports , and focus on projects that support neighborhood safety , equity and affordable transportation .
Entin pointed out one manufacturer in the audience who fully embraced climate change issues and worked effectively to make her plant more resilient . Marcia Frieze , the CEO of
Agnes Antonian , an attorney at Connell Foley
Case Medical , explained her facility in South Hackensack was ravaged by Superstorm Sandy in 2012 . When the plant relocated to new space in Bloomfield two years ago , Frieze did not
Continued On Page 22
Photo : Getty Images / iStockphoto / Bilanol
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New Jersey is focusing on reducing pollution , advancing renewable energy , and making NJ infrastruction more resiliant to climate disasters .
Photo : Getty Images / iStockphoto / RelaxFoto . de
Photo : Getty Images / iStockphoto / Tomwang112
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