New Jersey Prepping for Devils' Prudential Center Renovation

A bill that could expand New Jersey's corporate tax incentive programs by billions while also extending new tax subsidies for the New Jersey Devils' Prudential Center was advanced by Assembly lawmakers.

The measure was won in 10-2 approval from the Assembly’s economic development committee and would pour an additional $2.5 billion into the state’s marquee tax incentive programs and extend up to $300 million in state subsidies for renovations at the Newark arena. Two assembly members voted no, including Dawn Fantasia (R-Sussex) and Alex Sauickie (R-Ocean). The bill would require the Prudential Center’s renovation to generate economic activity equal to at least 150% of the tax incentives it receives and the requirement could mandate the Prudential Center generate $450 million in economic activity.

President of the New Jersey Devils and the Prudential Center — Jake Reynolds — informed the panel of the arena's recent revenue generations. This included more than $680 million in annual economic activity and generated $30 million in state tax revenue and $4.5 million in Newark taxes annually which he presented in his argument that investment is a necessity in order to keep the arena in good status and on par with other NHL venues across the country.

Reynolds also said there is no time like the present for a full-scale renovation at the Prudential Center.

“With the age of the building and the 23 million visitors that have continued to come through the doors since the opening, along with the more than 3,000 events we have hosted there, it has taken a toll on the facility’s infrastructure,” Reynolds said according to NewJerseyMonitor.com. “The time has come for a full-scale renovation.”

Could Renovations at Prudential Center Provide a Needed-Boost for NJ Devils?

To be eligible for incentives, a venue must seat at least 15,000 and have operated for at least 15 years in a city with an international airport in a non-coastal county with at least 550,000 residents and a density of not less than 3,000 people per square mile.

The New Jersey venue of the Prudential Center meets these requirements.

Assemblywoman Eliana Pintor Marin (D-Essex), who is sponsoring the bill, said major renovations are currently needed in order to promote the Devils — who remain the only professional sports team for the state of New Jersey.

“It’s at the point where it needs to have major renovations in order to not only make sure the only professional sports team that New Jersey has, which is the New Jersey Devils, can continue to play, but also so that they’re able to compete and bring in different spectators and bring in different shows,”

The Prudential Center will be getting a “full-scale renovation” in the near future 👀 pic.twitter.com/TdEmkXgffj
— Devils Fanatics (@devilsfanatics) January 7, 2026

The Devils recently made NHL infamy with a 9-0 road loss at the New York Islanders on Jan. 6, but look to turn the tide by facing off against the Pittsburgh Penguins at 7:00 p.m. EST on Jan. 8. Three members of the roster (captain Nico Hischier, Timo Meier and Jonas Siegenthlaer) were recently named to Team Switzerland's roster for the upcoming 2026 Milano Cortina Olympic Winter Games.

The bill now needs to advance through the Assembly Appropriations Committee before reaching the chamber’s floor. A new legislative session begins on Jan. 13.

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