The Christie Administration today announced that an agreement has been reached among Triple Five, the New Jersey Sports and Exposition Authority, and the MetLife Sports Complex team owners, resulting in an immediate recommencement of construction on the much anticipated American Dream project. The project will result in thousands of new construction and permanent jobs and be an economic engine for the regional and state economy as one of the premier retail and tourist attractions in North America.
"Having been an advocate for this project since the beginning, I am extremely pleased that American Dream is now finally moving forward," said Governor Christie. "This project will bring thousands of construction jobs and full-time employment to the Meadowlands, and be an engine of economic growth for the entire region. Once it's completed and has opened its doors, American Dream will be a dynamic world-class tourist destination for years to come. I thank everyone involved for their good-faith efforts working together to make American Dream a reality."
The design plans for the American Dream project were first announced in May 2011, marking the next steps in the Christie Administration's efforts to transform the existing space into a premier tourism, entertainment and retail destination for New Jersey residents and tourists from around the world. Features of the American Dream complex will include an enclosed amusement park, indoor water park, performing arts theater and the only indoor ski facility in North America. The complex is expected to generate thousands of jobs and tens of millions of dollars in sales and payroll taxes for New Jersey as well as generate revenue for municipalities of Bergen County.
"This agreement is a huge milestone for the MetLife Sports Complex and the state of New Jersey, and crucial in advancing the Administration's long-established goal of delivering a world class sports, retail and entertainment destination in the Meadowlands," said Wayne Hasenbalg, President and CEO of the New Jersey Sports and Exposition Authority.
The agreement calls for the teams, the developer and various state agencies to cooperate to implement a variety of mass transit and traffic improvements that will compliment a detailed traffic and parking management plan designed to enhance the experience of all visitors to the Sports Complex, particularly on NFL game days.
"We are delighted to have played our part in helping to move this project forward under Governor Christie's leadership, and we sincerely thank the involvement and commitment of other state agencies to help ensure the future success of the Sports Complex," added Mr. Hasenbalg.