TASK FORCE CREATED TO HELP ADJUST NEW JERSEY BUSINESS CLIMATE

Senate President Stephen M. Sweeney and Assembly Speaker Sheila Y. Oliver today announced the formation of a new Business Task Force that would work to craft reforms to make the state more business-friendly and reposition New Jersey’s economy for long-term growth.

The task force, led by leaders in private industry, will be given the broad leeway to propose reforms to state regulatory policy, grants and incentive programs, and business tax law.

“Especially now, when our economy continues to lag, we need to get past the notion that government always knows better than business,” said Sweeney (D-Gloucester/Cumberland/Salem). “The state’s business leaders know from their daily experiences what works and what doesn’t. It’s time we ask them to play a larger role in writing their own success story. A stronger business climate will lure new corporations to the state and spur new small business ventures, which in turn will create countless new job opportunities.”

“Democrats have taken numerous steps to improve our state’s business climate, from corporate tax reforms to permit extensions to regulatory reform, but we also know New Jersey has one of the most innovative and intelligent business communities in the entire world,” said Oliver (D-Essex/Passaic). “We want to enhance our already close relationship with that business community and work directly with the people who actually create jobs and drive our economy. They’re the ones who know best on how to create jobs and spur the economic growth that will benefit communities throughout our state.”

The leaders noted that the task force’s proceedings will be nonpartisan, and the members will have free rein to propose reforms without political pressure or considerations.

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