TRENTON – Governor Murphy today signed an Executive Order establishing a new Economic Council, which will be supported by a newly established Development Coordination Committee. Under the executive order, the Economic Council will provide a regular forum for the business community and state government to discuss, collaborate, and solve issues important to the public and private sectors, and stimulate economic growth and prosperity. The new Development Coordination Committee will support the Council’s work in advancing development projects that require multiple state, county and local government approvals.
A Message from President & CEO Tom BrackenThis month’s elections underscored that economic concerns are a top priority for voters. As we move forward, it’s critical for policymakers – at both the state and federal levels – to prioritize initiatives that foster economic growth and stability.
The Murphy administration took an important step on the economy by issuing the recently announced executive order creating a state Economic Council – a concept the New Jersey Chamber of Commerce has long championed. The Council, composed of state government leaders and members of the business community, will focus on a critical goal: finding actionable ways to make New Jersey a more attractive place to do business.
Trailblazer Awards Reception Was Hosted by the African American Chamber of N.J. and the N.J. Chamber of Commerce
Eight New Jersey businesses and a business leader that are leading the way in demonstrating tangible and measurable progress in diversity, equity and inclusion (DE&I) were recognized Nov. 14 at the third annual DE&I Trailblazer Awards reception, co-hosted by the African American Chamber Commerce of New Jersey and the New Jersey Chamber of Commerce.
The New Jersey Chamber of Commerce congratulates the winners of the 2024 election and commends them on successful campaigns. Yesterday’s outcomes make it clear that economic concerns are top of mind for voters across New Jersey and the nation.
Program Recognizes Champions of Diversity who are Truly Challenging the Status Quo
The African American Chamber Commerce of New Jersey and the New Jersey Chamber of Commerce will co-host the third annual DE&I Trailblazer Awards Reception to recognize companies that are demonstrating tangible and measurable progress in diversity, equity and inclusion (DE&I). The honorees in the key areas of access to capital, board diversity, corporate citizenship, DE&I influencer, supplier diversity, and workforce diversity will be revealed on Nov. 14 at 5 p.m. at Pines Manor in Edison.
The New Jersey Chamber of Commerce Board of Directors on Oct. 15 elected seven new board members. These accomplished leaders, from a variety of industries and regions across the state, will contribute to the Chamber's mission of fostering a dynamic and thriving business environment in New Jersey.
By Tom Bracken, President & CEO, New Jersey Chamber of Commerce
As we approach a major election, partisanship is dominating both our state and country, leading to confusion and stagnation. At the same time, businesses in New Jersey, large and small, are urging our leaders to set aside political differences and focus on what matters: improving the economy. The business community wants policies that promote growth and create jobs.
This strike could be a disaster. It is going to cause disruptions to world supply chains and negatively affect the New Jersey and national economies. As evidenced by the recent Federal Reserve rate cut, inflation was finally somewhat under control – and the longer this strike lasts, the higher the probability prices will increase. And who knows how long this will last. We do not want the holiday buying season to be interrupted, which is so critical to the health of the economy. We believe that anybody who has the ability to stop this strike, slow it down, and try to have the sides come to an agreement – should weigh in. The strike has the potential of being so bad that people who have the ability to mute this – should mute it. There’s absolutely nothing good about this.
Tom Bracken, President & CEO, New Jersey Chamber of Commerce
You’ve likely heard the recent buzz: New Jersey made a bold play to lure the Philadelphia 76ers across the Delaware River, offering an attractive deal for a new arena in Camden.
This move clearly caught the attention of Philadelphia Mayor Cherelle Parker, who quickly announced her own city’s agreement with the team for a proposed new arena in Center City near Chinatown.
However, the Philly “deal” still requires city council approval, and it already faces opposition from residents concerned about congestion.
We applaud the legislature for introducing legislation to address the alarming findings in the disparity study, which recognized the need for more equity in government contracting for Minority and Women-Owned (MWBE) businesses.
The imbalances outlined in the study have long been articulated by those affected – and is the focus of one of the Chamber’s economic priorities that calls for equal opportunities for MWBEs when it comes to securing not only public but also private sector contracts. Increasing supplier diversity spending with MWBEs has economic and social benefits for all by enhancing competition, encouraging innovation, increasing job creation and supporting communities. Solving for this inequity in a timely manner is what is best for New Jersey and its residents.