A Troubling Sign for New Jersey’s Economic Future
The New Jersey Policy Research Organization, the think tank of the New Jersey Business and Industry Association (NJBIA), recently released a Study of New Jersey’s business climate. The Study included a telephone poll of 249 business leaders as well as interviews of 29 New Jersey and out-of-state business and government leaders. It also provided 37 policy recommendations for New Jersey based on other states’ best practices. The results of the Study are a troubling sign for New Jersey’s economic future.
When asked what is most likely to prevent a company from reaching its goals, 21% of Study respondents said the affordability of living in New Jersey, while 20% said New Jersey’s unfavorable tax structure, and 19% said the availability of a skilled workforce. Regarding the most negative impact on New Jersey’s companies, 26% of Study respondents cited the State’s tax policy while 16% said New Jersey’s healthcare policy most negatively impacts the State’s business community. Most troubling for New Jersey’s economy, 42% of Study respondents said that if the State government’s policies remain the same, the business climate will deteriorate while only 26% said that the climate will improve.
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Michael M. Shapiro, founder of ShapTalk.com, is an attorney who resides in New Providence,