In our spotlight on Business Report tonight, luring the Philadelphia 76 ers across the Delaware.

New Jersey wants the NBA team to build their new arena on Camden's waterfront so badly.

The Economic Development Authority is prepared to offer hundreds of millions in tax breaks and millions more in government issued bonds to get them here.

The proposal has been causing a buzz in both states from those excited at the prospects of what a major sports team could bring to the local economy.

To opponents who point to New Jersey's history of offering tax incentives to move companies to the city with little benefit to its residents.

Ted Goldberg reports.

Clap your hands, everybody for the South Jersey 76ers for.

The City of Camden.

It will be a generational investment.

A lot of different standpoints economically, community wise.

Camden Mayor Victor Carstarphen is dead serious about attracting the Sixers to his city.

While speaking at a community cleanup event today, he says Camden would well clean up with an NBA team, especially a decade after they built their practice facility here.

I know they're committed.

They've shown the commitment that they have for the city of Camden on the level of that size.

I can see that commitment continuing to grow.

They've been very staunch in what their timeline looks like, what their exit date would be in the South Philly arena, and when they want to have an arena built.

The Sixers are owned by Harris.

BLITZER Sports Entertainment, which also owns the New Jersey Devils.

They're looking for a new home, saying in a statement, We have worked tirelessly for the past five years to build an arena in Philadelphia.

And negotiations remain ongoing with city leadership.

The reality is we're running out of time to reach an agreement that will allow the 70 Sixers to open our new home in time for the 2031 32 NBA season.

As a result, we must take all potential options seriously, including this one.

The New Jersey option includes a huge amount of tax breaks.

This is why programs like this exist and are built for transformational projects like the one the 70 Sixers are looking to bring to the table.

The state's Economic Development Authority is offering up to $800 million in tax breaks if the Sixers build an arena in Camden alongside mixed use development.

Proposed legislation would raise another half a billion dollars in special purpose bonds, which would be repaid with fees on tickets, concessions and parking.

The land is state owned and would be made available for free or close to it.

We are going to want to see New Jersey jobs created from that, and specifically Camden City jobs.

The reaction to this pitch hasn't all been positive.

Why this New Jersey want to participate in this race to the bottom of the Sixers?

It's just mind boggling.

Antonette Miles says the arena, which would be built on the site of a former prison, isn't guaranteed to revitalize the community.

She says the practice facility brought promises to and while nearly 300 jobs were created there.

City stats show only around ten of them are filled by Camden residents.

It may be a point of pride to see the 76 logo on the waterfront, but I can't tell you anybody in this community that knows anybody that works there.

They will create the equivalent of your local Burger King in terms of the number of jobs in the city.

Mayor Carstarphen has argued that the Sixers impact goes beyond raw job numbers and that their community events have uplifted people in Camden.

Miles says residents themselves should have more say in what gets built here.

I think that it's really important that as we start to think about development, especially in the wake of, you know, a sweeping indictment around tax incentives in this city with waterfront property, that we start to think about how we pull Camden residents into a process in which they feel involved.

One of the biggest questions in all of this, just how serious are the 70 Sixers about possibly relocating to South Jersey?

Is this all just one giant bluff for leverage?

Mayor Carstarphen says he's proceeding as if the Sixers mean business when they say they might be crossing the Delaware.

We control what we could control.

I try not to get involved with, you know, the emotions of it all.

You know, I have a job to do every day and that's to try to make our city a better place.

In response to this story, the EDA said this proposed project stands to have a major economic impact on Camden, and we are committed to ensuring its residents reap the benefits.

A project of this size is complex, but we intend to do this right from the perspective of local benefits and community support.

Of course, this all hinges on whether the Sixers see Camden as a legitimate destination rather than a bargaining chip in Camden.

I'm Ted Goldberg.

NJ Spotlight News.

Support for the business is provided by Riverview Jazz, presenting the first annual Jersey City.

Let the Jazz Festival on Saturday, September 14 at Exchange Place Plaza in Jersey City.

Performance schedule and further details below is open to all.

The event can be found online at Riverview Jazz dot org.