WHYY By Developments on the Camden waterfront, like the American Water corporate headquarters and the 18-story Camden Tower, receive substantial local tax breaks in addition to state tax incentives. (Emma Lee/WHYY) New Jersey will usher in a new era of corporate tax breaks under a $14 billion program Gov. Phil Murphy signed into law Thursday. Murphy and state legislative Democrats announced their agreement on the plan and the language of the bill in December and swiftly enacted it, over the objections of progressive activists who said the effort was rushed and the law was overly generous. “I have no doubt that these incentives implemented fairly and equitably will power us forward and support — directly and indirectly — thousands of good jobs,” the first-term Democrat said at a press conference.