$3B American Dream Forecast To Generate $148M In Taxes For NJ

BERGEN COUNTY, NJ — American Dream Meadowlands, the long-awaited, $3 billion project, is expected to generate $148 million in tax revenue annually for the state once it opens next year.

Officials from the Triple Five Worldwide, the project's owner and developer, gave a special presentation about some amenities that will be at the 91-acre campus, what could happen at American Dream after it opens, and what the project's impact could be on the local economy at a special networking lunch hosted by the Meadowlands Regional Chamber of Commerce at their annual Bergen Business Expo.

American Dream is expected to draw visitors from the 25 million people who live in the tristate area and the 62 million who visit the greater New York City area annually, said Paul Ghermezian, COO of Triple Five.

"The power and strength of the Meadowlands, we're going to unlock the power that area has," Ghermezian said. "Having a neighbor like Manhattan that's so close is incredible."

Fifty-five percent of American Dream Meadowlands will be entertainment venues. Retail components will make up the remaining 55 percent. Retailers will be closed on Sundays due to Bergen County Blue Laws.

American Dream could see 30 million people visit come through its doors in the first year alone. The West Edmonton Mall and Mall of America average 30 million and 40 million visitors annually, respectively.

Triple Five is promising something akin to two properties it already owns: The Mall of America in Minnesota and the West Edmonton Mall in Canada. And it seems to be delivering on that promise.

The 12-story indoor ski park, with an 800-foot-long hill, will have a school and a chalet-like area with restaurants at the foot of the hill. Customers can try and buy skis, said Paul Ghermezian, COO of Triple Five.

There will be an NHL-size ice rink. The Mall of America has one and the Edmonton Oilers have held practices there.

The main court will feature more than 350 annual events, ranging potentially from a Rachael Ray cooking demonstration to a Michelle Obama book signing, Ghermezian said.

The flower court will feature large overhead windows to allow a lot of nature light to come in, he said. Triple Five is spending $1.5 million on flowers just for the opening. The arrangements will change seasonally.

For The Win will include arcade-style games, a bowling alley, live music, and craft beer offerings.

Cirque du Soleil will have a permanent theater with a new show designed just for American Dream.

North America's largest indoor water park, designed by DreamWorks, the company behind "Shrek" and "Kung Fu Panda," combined with the Nickelodeon Universe theme park, the largest indoor amusement park in the western hemisphere, will make up 16 acres of the campus.

Kids 4 to 14 can run their own city at KidZania. Companies like Honda, Sony, Kellogg's, Coca-Cola and others have sponsored businesses and landmarks in the attraction.

The first Sea Life aquarium in New Jersey will feature a tropical ocean tank with a walk-through underwater tunnel and a 4-D, dine-in movie theater that will allow moviegoers to smell scents in the films they watch.

The world's first Kosher food court will feature 15 grab-and-go offerings and a 150,000 square feet of dining.

And more could be coming.

Jim Kirkos, CEO of the Meadowlands Regional Chamber of Commerce, said a convention center, several hotels, and a casino could be built around American Dream at some point.

"Think about the Meadowlands Sports and Entertainment Complex with American Dream, the racetrack, a convention center, an arena, MetLife Stadium: That would be one of the most popular sports and entertainment complexes in the world, in our backyard," Kirkos said. "Why wouldn't we want that? It's a job creator, it an economic engine, and it makes us a primary destination."

Bergen County Executive James Tedesco agreed.

"It's going to change the way we think of Bergen County," Tedesco said. "It's going to change us here in Bergen County because it's going to give us something no one else ever had."

Related: KidZania Will Bring 500K To 1M Visitors To American Dream Meadowlands: CEO
Related: 2 World-Record Roller Coasters Coming To American Dream
Related: Huge Adult Arcade Coming To American Dream Meadowlands
Related: American Dream Pushes Back Open Date, Secures $1.6B In Financing
Related: 'Most Expensive Retail Project On Earth' Coming To Meadowlands In 2017
Related: Aquarium, LEGOLAND Coming To American Dream Center

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Image: Construction of the Nickelodeon Universe amusement park and DreamWorks waterpark (Courtesy of Triple Five)