November 2012
At Issue, By Melanie Willoughby, Senior Vice President

Creating a Vision for a Better New Jersey

When NJBIA works on individual legislative and administrative proposals, we make sure that we do not lose sight of the big picture. After all, our ultimate goal is to create a New Jersey where business can grow and thrive and people have good jobs available. To that end, the Government Affairs team works closely with our member-companies to outline the innovative ideas and the major policies that can reshape New Jersey’s business landscape. We then compile these ideas into NJBIA’s Vision for a Better Business Climate.

It’s not a reference book that sits on a shelf, but an ever-evolving plan that is updated regularly to reflect the goals that have been accomplished and the new challenges that arise. And we have just completed our latest installment.

The Vision outlines the broad policy goals of the business community—reducing the cost of doing business, creating jobs and growing the economy, and streamlining government policies. We can accomplish these things by reducing taxes and fees, supporting a vibrant manufacturing sector and continuing regulatory reform, among other things.

But the Vision also lays out the logical underpinnings for these policies. It’s not enough to just identify the policies businesses want. We have to show how these pro-business initiatives will benefit the state as a whole.

This approach has helped push through pro-business policies. Our previous Vision showed how key tax reforms like the single sales factor and loss carry-forwards for companies paying income taxes instead of corporate taxes could improve the business climate. The Administration and the Legislature heard us, and as a result, there are nearly $350 million in business tax cuts and credits in this year’s budget.

Our Vision goes beyond taxes, however. Take the section on environmental policy, for instance. Before we lay out the policies themselves, we explain why they are important. The Vision notes how New Jersey’s location between two major metropolitan areas and key ports is attractive to many businesses, but that unnecessary and excessive environmental regulations are negating that advantage. It goes on to outline policies making it easier for businesses to comply with regulations.

Similarly, the employment and labor section calls for reasonable and balanced labor laws that will allow New Jersey employers to compete on equal footing with employers in other states. It calls for a level playing field for union and nonunion workplaces, reining in workplace mandates, and using federal rules and regulations wherever possible so employers only have to follow one set of guidelines.

The Vision lays out similar ideas for reducing energy costs, making health insurance more affordable, encouraging economic development and improving education.

The point to all of this is to get New Jersey lawmakers to understand how supporting business translates into jobs. Private-sector employers are the state’s main engine of economic growth, but they are challenged by fierce domestic and global competition, rising production costs, burdensome regulations, and some of the highest costs of doing business in the nation. At the same time, other states are aggressively courting New Jersey businesses, and when they leave, they take their jobs and economic benefits with them.

To keep New Jersey competitive, government at all levels must seek to reduce business costs, reduce taxpayer burdens and encourage economic growth. NJBIA’s Vision for a Better Business Climate is a blue print for doing just that.

Vincent Schweikert, Vice President & Publisher
973-882-5004. ext. 110
v.schweikert@njbmagazine.com

Anthony Birritteri, Editor-in-Chief
973-882-5004. ext. 104
a.birritteri@njbmagazine.com

George Saliba, Managing Editor
973-882-5004. ext. 106
g.saliba@njbmagazine.com

Lisa Fragati-Criscuolo, Advertising Manager
973-882-5004. ext. 108
l.criscuolo@njbmagazine.com

Gloria Owens, Account Executive
973-882-5004. ext. 109
g.owens@njbmagazine.com

Doug Prefach, Account Executive
973-882-5004. ext. 102
d.prefach@njbmagazine.com