Bill Text: NJ SR16 | 2010-2011 | Regular Session | Introduced
Bill Title: Supports continued operation of IZOD Center.
Spectrum: Partisan Bill (Democrat 3-0)
Status: (Introduced - Dead) 2010-01-12 - Introduced in the Senate, Referred to Senate State Government, Wagering, Tourism & Historic Preservation Committee [SR16 Detail]
Download: New_Jersey-2010-SR16-Introduced.html
STATE OF NEW JERSEY
214th LEGISLATURE
PRE-FILED FOR INTRODUCTION IN THE 2010 SESSION
Sponsored by:
Senator PAUL A. SARLO
District 36 (Bergen, Essex and Passaic)
Senator ROBERT M. GORDON
District 38 (Bergen)
Co-Sponsored by:
Senator Weinberg
SYNOPSIS
Supports continued operation of IZOD Center.
CURRENT VERSION OF TEXT
Introduced Pending Technical Review by Legislative Counsel
A Senate Resolution supporting the continued operation of the IZOD Center in the Meadowlands complex.
Whereas, The IZOD Center, a multipurpose indoor arena in the Meadowlands complex, is one of the top grossing venues in the United States and, in 2007, was rated the third highest grossing facility in the country for family shows and concerts and the sixth highest grossing facility in the world for such events; and
Whereas, The IZOD Center has received multiple awards for event success, ticket sales, and its management personnel; and
Whereas, Concerts, family shows, and miscellaneous events generate significantly more net revenue for the Meadowlands complex than the New Jersey Nets, New Jersey Devils, and Seton Hall basketball; and
Whereas, Officials of the New Jersey Sports and Exposition Authority (NJSEA), which operates the IZOD Center, support continued operation of that arena and assert that the recent departure of the New Jersey Devils and Seton Hall basketball has enabled the NJSEA to sign other lucrative shows which has improved the IZOD Center's income from operations by a margin of approximately $5.2 million; and
Whereas, The construction of a rail spur connecting the Meadowlands complex with New Jersey Transit's Pascack Valley Line and the Secaucus Transfer Station is well underway and, when it opens, will allow most patrons in New Jersey and New York City to access the IZOD Center directly using mass transportation, likely increasing event attendance; and
Whereas, The IZOD Center's renowned position in the entertainment marketplace will be further enhanced when the nearby Xanadu shopping and entertainment complex opens in 2009; and
Whereas, Keeping the IZOD Center open is a viable and sound business decision for the State of New Jersey; and
Whereas, It is altogether fitting and proper for this House, and in the public interest, to support the continued operation of the IZOD Center in the Meadowlands complex; now, therefore,
Be It Resolved by the Senate of the State of New Jersey:
1. This House supports the continued operation of the IZOD Center in the Meadowlands complex.
2. Duly authenticated copies of this resolution, signed by the President of the Senate and attested to by the Secretary thereof, shall be transmitted to the Governor, the Chairman of the New Jersey Sports and Exposition Authority Board of Commissioners, and the President of the New Jersey Sports and Exposition Authority.
STATEMENT
This resolution would support the continued operation of the IZOD Center. The IZOD Center is a multipurpose indoor arena in the Meadowlands complex, and is consistently rated as one of the top grossing venues in the United States for family shows and concerts and has been rated the sixth highest grossing facility in the world for such events.
Officials of the New Jersey Sports and Exposition Authority (NJSEA), which operates the IZOD Center, support continued operation of the that arena and assert that the recent departure of the Devils and Seton Hall basketball has enabled the NJSEA to sign other lucrative shows which has significantly improved the IZOD Center's income from operations. Additionally, the construction of a rail spur connecting the Meadowlands complex with New Jersey Transit's Pascack Valley Line and the Secaucus Transfer Station is well underway and, when it opens, it will allow most patrons in New Jersey and New York City to access the IZOD Center directly using mass transportation, and will likely further increase event attendance. Furthermore, the IZOD Center's renowned position in the entertainment marketplace will be further enhanced when the Xanadu shopping and entertainment complex opens in 2009. Therefore, the continued operation of the IZOD Center is a viable and sound business decision for the State of New Jersey.
