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Small Business Survival Index places NJ dead last
The Small Business & Entrepreneurship Council (SBE Council) has released its eleventh annual rankings of the states according to their public policy climates for small business and entrepreneurship in the "Small Business Survival Index 2006." New Jersey tanks last among the states. View a copy of the report.
The Urban Enterprise Zone (UEZ) program is undergoing changes
New reporting requirements have been announced for UEZ-based businesses. Click on the following links for the latest information
http://www.state.nj.us/treasury/taxation/uezsbafaqs.htm
http://www.state.nj.us/treasury/taxation/pdf/other_forms/uez/uz5sba.pdf
New Jersey Business Tax Climate ranked among nation’s lowest
The FY 2007 Tax Foundation’s State Business Tax Climate Study again ranks New Jersey 48th among the states. Along with New Jersey, the five lowest ranking states include Rhode Island, Ohio, New York and Vermont. In the Northeast, New Hampshire (7) and Delaware (9) are the highest ranking states. View the study.
Corzine Executive Order reins in contracting by State Independent Authorities
The order implements procedures to ensure that all contracts with state authorities be awarded based on merit and value. It requires state authorities to establish pre-set, transparent procedures that will govern the awarding of authority contracts. All contracts will have to be publicly advertised. In most cases, contracts will have to be awarded to the low bidder. Where sophisticated professional services are being sought, merit-based factors other than cost may be considered in the award process. In those circumstances, the authority must establish an evaluation committee to review and score all proposals based on pre-set, transparent parameters. View the Executive Order.
Corzine releases his Economic Growth Strategy for New Jersey
Yesterday, Governor Corzine released his Economic Growth Strategy for New Jersey, also announcing the creation of his Economic Growth Council. The strategy is designed to strengthen and grow New Jersey's economy while creating well-paying private sector jobs and ensuring that economic growth benefits all cities and regions of the state creating new economic opportunities for all New Jersey citizens. The plan’s priorities include:
Priority 1: Market New Jersey for economic growth by partnering with the state's businesses and helping them to grow and prosper;
Priority 2: Develop a world-class workforce by assisting the state's students and job seekers to obtain the skills and education needed in a competitive global economy;
Priority 3: Promote sustainable growth with a particular emphasis on the state's cities and make strategic infrastructure investments to support economic growth while protecting the environment;
Priority 4: Nurture the development of new technologies, and ensure that the state continues to be a leader in innovation;
Priority 5: Encourage entrepreneurship and the growth of small, minority-owned, and women-owned businesses; and
Priority 6: Enhance the global competitiveness of New Jersey's businesses.
View the Economic Growth Strategy.
Stevens Institute Report cites declining NJ Teleco industry
The Stevens Institute of Technology recently issued a report on New Jersey’s declining teleco industry. The report notes that with jobs and patents declining, New Jersey ’s communications industry needs a dramatic turnaround strategy to capitalize on the next wireless revolution. View the report.
School Construction Working Group calls for $3.25 billion in new funding
The Third Report of the Interagency Working Group on School Construction calls for $3.25 billion in new school construction funding predicated on administrative changes to the School Construction Corporation and substantive amendments to the School Construction Law. Details
NJBIA's Economic Development Committee
The Economic Development Committee gives guidance to government decision makers on economic development issues. In addition to taking positions on legislation and regulations, the committee identifies economic development programs of use to Association members. For more information, e-mail NJBIA staff director Art Maurice amaurice@njbia.org.
Economic Development
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