Christie Says American Dream Project On Way To Becoming Reality

Aug 21, 2017

Gov. Christie meets with construction workers at American Dream site in East Rutherford.

Governor Christie once called it the ugliest building in New Jersey. Now he’s saying a multi-billion dollar retail and entertainment complex in the Meadlowlands will be vital to the state’s economy.

Known as Xanadu when it was approved in 2003, the project was plagued by a series of financing problems and construction delays. Christie says what’s now called the American Dream is on the way to becoming a reality.

“So after this project languished during previous administrations and a few other bumps along the way on our own, this project is progressing vigorously and a new completion date is scheduled for March 2019.”

Christie says the project will be a good deal for New Jersey taxpayers.

“Over the first 20 years of operation, an average of $3.5 billion in tax revenue will be paid to the State of New Jersey. That’s a nine-to-one return on our investment of our $390 million in ERG grants approved the EDA.”

Christie says the project will create more than 23,000 permanent jobs.