In our Spotlight on Business Report.

The fallout continues from the collapse of Orsted's offshore wind plants in New Jersey.

The Danish developer is now reportedly trying to get out of a $300 million guaranteed agreed to pay the state if it failed to build a wind farm off the coast, according to the Associated Press.

Orsted an underwriter of NJ Spotlight News sent a letter to the Board of Public Utilities withdrawing from the agreement, saying the BPU never officially approved the deal.

And the company is now no longer pursuing the tax incentives related to the project.

The Murphy administration in July approved a tax break that would have allowed Orsted to keep federal tax credits that would otherwise be returned to ratepayers if the project was built.

The BPU, though it disagrees, the state agency claims an escrow agreement was made with or set in late September, and a guarantee agreement was formalized in October or set announced last week.

The company is pulling out of its two offshore wind projects here due to rising costs.

The decision has cast a shadow over the emerging industry and could be a factor in today's election support for the business report provided by the New Jersey Tourism Industry Association.

NJT will host the New Jersey Conference on Tourism November 30th through December 1st at Resorts Hotel and Casino in Atlantic City.

NJTIA.org for event information.