The state’s revenue picture brightened in November. Revenue collections for all the state’s major taxes increased 5.8% last month. One reason for that was a boost in revenue from income tax collections, now that the new tax rate on millionaires is in effect. While revenues looked better last month, overall collections are still down 5% this fiscal year compared to last. The Department of Treasury expects revenue collections will remain weak in the winter months.
Gaming revenue at Atlantic City’s casinos dropped nearly 10% in November, as the industry continues to wrestle with restrictions in place due to the coronavirus pandemic. So far this year, casino revenue has declined more than 21%. Meantime sports betting has set a new record, yet again. Wagers totaled $931 million last month, and for the year more than $5 billion has been bet on sports.
Our state’s health care industry continues to pivot to address COVID-19. The latest example of that is in South Jersey, where Inspira is temporarily closing some of its urgent care centers in order to place health care staff at its hospitals, which need additional workers. Inspira closed five urgent care centers located in Glassboro, Somerdale and Woolwich, Haddon Township and Mantua. The centers will be closed for two months or possibly longer.
Paterson’s efforts to refurbish its historic Hinchliffe Stadium just got a boost. The Murphy administration is providing the city with an additional $20 million in tax credits to help move the project forward. Back in the day, Hinchliffe Stadium was home to sporting events and rock concerts. But Hinchliffe’s real claim to fame is that it’s one of the few surviving stadiums that once hosted Negro League baseball games.
