 It is my habit to personally sign the renewal letters that are sent monthly to members, reinforcing the value proposition and reminding you how important your continued support is. I talk about current challenges and opportunities, and how a united business community can make a difference in public policy that impacts the bottom line.
Finally, I ask each of you to consider a voluntary contribution to the Enterprise Trust Fund (ETF). Your response tells me a great deal about your knowledge of what the Chamber is doing on your behalf and the amount you are willing to commit to maintain momentum.
The ETF was established years ago, after the Chamber became heavily invested in defeating the Corporate Business Tax. While the CBT was passed, we were able to dull some of the impact, thanks to the very public “Save Sally” campaign, which people still talk about in Trenton.
You may recall the radio ads that linked increased corporate taxes with job losses – in this case, Sally’s job. We learned that well-placed messaging can be extremely effective. We also learned that a campaign of this kind is extremely costly in New Jersey’s media market.
From this realization was born the ETF.
The “Trust” identification is extremely important to us. Your voluntary contribution is held in trust to be used solely for activities approved by your Board of Directors.
For example, the Board was concerned with the outward flow of business from our state, and used some of the money to contract with a leading economic development consultant, Kate McEnroe, to produce a study identifying why companies were moving or expanding elsewhere or bypassing New Jersey as a potential location. The McEnroe Study was delivered to the Corzine Transition Team for their review, with many of the study’s solutions incorporated into the state’s Economic Growth Strategy for New Jersey. In short, the study wouldn’t have happened without the Enterprise Trust Fund, and it was worth every penny.
The Chamber’s Platform for Progress calls for a number of things, not the least of which is making New Jersey a pro-investment state.
Part of our duty, as we drive this agenda, is to base our recommendations on irrefutable data – and data is expensive. Your contribution, above and beyond your membership investment, gives your Board the resources to move boldly with information that may not otherwise be available. It is because of this that I so appreciate your generosity and encourage your continued investment.
When we release information to the press, I’m often asked who paid for the research. Years ago it would have been eight or ten of the state’s largest companies.
Needless to say, the press would immediately be suspect of the results, simply because of the underwriters. Now I’m proud to say that hundreds of New Jersey companies, large and small, support the work of the Enterprise Trust Fund.
ETF is currently underwriting the Economic Forums being held around our state. I encourage you to attend one so that you can not only meet face-to-face with our government leaders, but get a first-hand look at the product of your good work.
State Chamber President Joan Verplanck can be reached at joan@njchamber.com.
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