TRENTON, N.J. — Gov. Mikie Sherrill on Tuesday signed an executive order creating a statewide economic development strategy that her office said is meant to make New Jersey more competitive for business investment and jobs.
Executive Order No. 28 establishes the “New Jersey Means Business” strategy, which sets an agenda through 2030 and assigns state agencies specific tasks and deadlines, according to the Governor’s Office.
“New Jersey has the talent, innovation, and entrepreneurial spirit to build one of the strongest economies in the country. State government needs to match that ambition with a clear strategy and commitment to make our economy more competitive and dynamic,” Sherrill said.
The order is built around four goals: improving the business climate, growing key industries, speeding research and development to market, and spreading the benefits of growth to communities statewide.
Among the deadlines, state agencies have 90 days to produce a business retention and attraction strategy, a statewide plan to prepare priority development sites, and initial recommendations for cutting the cost of starting and running a business. Within 150 days, the state is to create a cross-agency service to help qualifying projects navigate state and municipal permitting.
Within 120 days, agencies are to recommend a small number of priority industries for concentrated state support, propose changes to economic development incentives, draft a statewide research and innovation strategy, and form an advisory group focused on small and midsized businesses. The order also calls for a strategy for communities facing persistent economic challenges and for aligning revitalization efforts in Trenton and Atlantic City.
A new New Jersey Means Business Economic Development Council will oversee the work. It will include the New Jersey Economic Development Authority, the New Jersey Innovation Authority, and the departments of State, Labor and Workforce Development, Community Affairs and the Treasury.
“After months of conversations with business leaders and entrepreneurs, the signing of today’s Executive Order represents a bold step forward for New Jersey’s economic future,” said NJEDA CEO Evan Weiss.
Acting Labor Commissioner Kevin D. Jarvis said his department would align training, apprenticeships and employer services “with where the economy is headed, while keeping standards strong to uplift all Garden State workers.”
Legislative leaders also praised the order. Senate President Nick Scutari said shifting the state’s relationship with businesses to “one of partnership rather than bureaucracy” would help attract and keep companies. Assembly Speaker Craig J. Coughlin said economic growth “takes a clear strategy, strong partnerships, and a willingness to listen.”
The Governor’s Office said agencies will set milestones and track outcomes such as employment, wages, business formation and private investment.
This report is based on a press release from the Office of Gov. Mikie Sherrill.
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