Board to vote on subsidy for 76ers practice space - FOX13 News, WHBQ FOX 13

Board to vote on subsidy for 76ers practice space

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CAMDEN, N.J. (AP) - New Jersey's Economic Development Authority is set to vote on an $82 million tax break for the Philadelphia 76ers that could cover the entire cost of putting the team's practice facility and office in Camden, New Jersey.

The vote is scheduled for Tuesday.

The 76ers are the only team in the NBA without its own practice facility.

In an economic development bill adopted last year, New Jersey added special incentives for businesses locating in Camden.

If the NBA team is approved, it would be the first organization to take advantage of the deal, which would come in the form of tax breaks for 10 years.

The team would have to stay in the city for at least 15 years and bring at least 250 jobs to Camden.

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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