From the APP:
Unfriendly business climate hurts New Jersey, experts say
New Jersey needs a more business-friendly climate or it will continue to lose companies and skilled workers to lower-cost states, Gov. Corzine’s economic growth chief said Wednesday.
Gary Rose said improving the state’s poor reputation is like turning a steamship around, but it is the only way of increasing tax revenue without raising taxes.
“We’re clearly at the . . . point that, like it or not, we’ll make decisions over the next few years that will determine whether New Jersey is a tier-one state,” Rose said.
Rose spoke to about 150 people at a forum sponsored by New Jersey Leadership, a nonprofit organization that provides leadership training. Its theme: Can New Jersey win in the global economy?
The answer wasn’t clear. New Jersey touts a highly skilled work force and a prized location in the densely populated Northeast. But it remains a high-cost state in an economy that seems to reward locations with the lowest costs.
And experts said it has a long list of problems that are enough to drive growing businesses to other states or countries.
Rose said the state has begun to win over some companies — a notable change from previous years, when companies left New Jersey for more favorable business climates.
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But experts said the success stories are overshadowed by New Jersey’s reputation, which, deserved or not, makes it difficult to compete in the global economy.
From the AP:
Christie links economy, corruption
Government corruption is the biggest obstacle to economic growth in New Jersey, U.S. Attorney Christopher Christie told state business leaders Wednesday.
“We don’t trust each other and we certainly don’t trust government,” Christie said.
Christie told the Leadership New Jersey forum that businesses won’t want to relocate or continue operating in the state if they can’t trust government. He recalled how his office has convicted more than 100 public officials on corruption charges since he took office in January 2002.
“The integrity environment is the environment we need to create in this state,” Christie said. “In short, we need to stop being a joke, because that’s what we are right now.”
I say kick all those greedy companies out of NJ! We can just hire more government employees to stimulate the economy :)