CSN Philly's Neil Hartman reports the Sixers have received an $82 million tax credit from the Camden Economic Development Authority to build their new practice facility on the Camden waterfront. The Sixers filed for the tax credit on Friday and the EDA voted this morning. CSN Philly's Dei Lynam put it in simpler terms, "Sixers approved to build practice facility in Camden."
The plans for the new facility have it currently as a 100,000-square foot complex, the largest in the NBA, right on the banks of the Delaware River. All of the Sixers operations, both basketball and business, are expected to move to the facility when it opens.
"As part of our due diligence related to a new Training Center, we have officially filed an application for a site along the New Jersey waterfront in Camden," said Sixers CEO Scott O'Neil in a statement on Friday. "We understand the New Jersey Economic Development Authority will be voting on an incentive for a possible facility on the waterfront at their upcoming meeting. We will have more to say on this matter after the EDA vote.”
The 76ers currently practice at Philadelphia College of Osteopathic Medicine while their business operations are located in the Navy Yard, just down the street from the Wells Fargo Center. The move for the Sixers would certainly have a financial benefits as the tax credits they filed for allow them to increase the size of the facility, not to mention no Philadelphia city wage tax.... That's a bonus in itself.
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