Andrew George | NJ Biz

In testimony before the Assembly Commerce and Economic Development Committee Thursday, members of the state’s business community across various sectors offered their takes on the state of economic development in New Jersey and highlighted potential areas of growth.

 

Invited guests touched on issues such as incentives, transit-oriented development and infrastructure investment.

It was the panel’s first meeting since Assemblyman Gordon Johnson (D-Teaneck) was appointed chair last week.

On the issue of the Economic Opportunity Act of 2013, New Jersey Business & Industry Association vice president David Brogan said that while the new incentives will certainly help the state stay competitive, this is not the time to stand down.

Brogan noted that especially with the aggressive business-friendly approach Gov. Andrew Cuomo has taken in New York, New Jersey must keep up with its neighbor through added tax reforms, incentives and policy changes. For starters, a “cleanup bill” to address some of the remaining issues in the Economic Opportunity Act should be worked on, Brogan said.

Michael Egenton, senior vice president of government relations for the New Jersey Chamber of Commerce, said that it is because of the Economic Opportunity Act that “New Jersey is more competitive with our surrounding states.” But Egenton agreed with Brogan that New York should be a concern given all that it is currently offering in tax exemptions and incentives. {….}