New Jersey has a great deal to be proud of – and an equally important opportunity in front of us.
According to WalletHub’s 2026 Best States to Live In report, New Jersey ranks as the No. 2 best state to live in America, finishing just behind Idaho. That recognition speaks to many of the strengths we know well: our outstanding schools, talented workforce, quality communities, strategic location and the many assets that make New Jersey an exceptional place to live, work and raise a family.
But another recent ranking tells a very different – and concerning – story.
In CNBC’s 20th Annual America’s Top States for Business study, released in July, New Jersey ranked 31st overall. While our state performed exceptionally well in important foundational areas such as education and quality of life, New Jersey performed poorly in all the economic and business categories.
Those two rankings, taken together, should send a clear message.
New Jersey has the assets necessary to succeed. We have the quality of life. We have the talent. We have the location, infrastructure, educational institutions and innovative businesses. What we need now is an economic agenda that allows us to capitalize on those strengths – and we need it quickly.
Kevin J. O’Toole, chairman of the Port Authority of New York and New Jersey and a former New Jersey State Senator, recently wrote in the New Jersey Globe in his O’Toole Chronicles: Adapt to the Moment about the rapidly changing expectations of voters. His message was straightforward: The public increasingly expects leaders to move quickly, communicate clearly, engage continuously, adapt to changing circumstances and, most importantly, deliver results.
While his commentary focused broadly on the changing nature of politics, there is an important lesson in it for economic policy.
The pace of government must begin to match the pace of the economy.
Businesses make decisions every day about where to invest, expand, hire and innovate. Other states are aggressively competing for those investments and jobs. New Jersey cannot afford lengthy delays, incremental responses or an economic strategy that fails to address the competitive challenges reflected in CNBC’s rankings.
Time is of the essence. We are aware that an economic plan is in the offing. We must move with urgency in developing an aggressive and comprehensive economic agenda that improves New Jersey’s business climate. That means listening to employers, identifying the barriers preventing investment and growth, and taking decisive steps to make our state more competitive and affordable for businesses of every size.
This is not simply about responding to a national ranking. It is about responding to the expectations of our constituents. Residents and businesses alike want to see action. They want government to recognize challenges, develop solutions and move quickly to implement them.
The good news is that New Jersey is not starting from scratch. Being ranked the second-best state in America to live demonstrates just how strong our foundation already is. Imagine what New Jersey could accomplish if we paired that exceptional quality of life with an equally competitive business environment.
We have the ingredients. We have the opportunity. Now we need the urgency.
As Kevin O’Toole observed, today’s environment rewards leaders who understand the moment and are prepared to act. For New Jersey, this is one of those moments.
This message was originally published in BINJE