OpportunityNJ joined Caucus: New Jersey host Steve Adubato to discuss the business climate in the Garden State and how to make New Jersey affordable. In case you missed it this weekend you can watch the discussion here:
While New Jersey has begun taking steps to address the issues of affordability in this state, this recent report underscores why those efforts need to accelerate at a much more rapid pace. Public policy needs to address deficiencies in key, critical areas: Tax Reform, Infrastructure Investment, Workforce Development and Regulatory Reform.
A recent study by the Tax Foundation, one of the nations leading independent tax policy research organizations, reported that New Jersey has the worst business climate in America – this is the third year in a row that the Garden State has been at the top of the list.
Join OpportunityNJ for an event hosted by the MIDJersey and Burlington County Chambers of Commerce to learn how we keep jobs and how we can make new jersey affordable!
Curbing outmigration by reforming our tax structure and encouraging affordable development options will help turn the tide on the state’s outmigration crisis. It is no secret millennials are leaving the state to pursue productive lives centered around urban living and public transportation. Meanwhile, retiring residents and business owners winding down their careers are relocating to southern states to avoid significant tax levies (e.g. estate and inheritance tax and taxes on income from pensions). Even though we have high property taxes, our state’s leaders can address affordability issues one step at a time.
New Jersey is beginning to stem the outmigration of business entities with the retooling of the Garden State’s economic incentive programs. The Hudson Waterfront has benefited from these incentives. Jersey City, Hoboken, and Weehawken have all continued development and is home to a large number of upward mobile millennials.
We must continue this momentum to create an affordable environment for all New Jerseyans. ONJ is committed to abandoning the “politics as usual” approach for a practical and solutions-based discussion. We can begin this discussion with reforming the estate and inheritance taxes, and plant the seeds for creative tax and regulatory reform.
OpportunityNJ Co-Chairs Tom Bracken and Michele Siekerka will be presenting on September 9th at ‘Good Morning Morris’ hosted by the Morris County Chamber of Commerce. To learn more or to register for the event click here.
Recently reported by NJBiz, the small business lending firm World Business Lenders cut the ribbon on their Headquarters in New Jersey. It is critical to make New Jersey Affordable so we can attract more business and jobs. Click here to read more.