Gov. Phil Murphy’s proposed FY22 budget boasts no new tax increases and a historic pension payment, but also a continuation of spending that many think is unsustainable and very well could lead to future tax increases. The $44.8 billion budget proposed by Murphy on Tuesday is up 10.9% from FY21 and is a 29% increase from the last signed […]
Current Issue
Tax Incentives Essential to Attract Businesses to NJ, NJBIA Says
While New Jersey can improve and retool its economic development incentive programs, it should not entertain the idea that the state will be OK without them, NJBIA said today. At least one witness testifying in yesterday’s hearing by the Senate Select Committee on Economic Growth Strategies suggested many companies that received tax incentives would have come […]
14 Outstanding Redevelopment Projects Win New Good Neighbor Awards
The New Jersey Business & Industry Association and New Jersey Business magazine will honor the visionaries behind 14 noteworthy New Jersey redevelopment projects at the 58th Annual New Good Neighbor Awards on July 17. The event salutes the companies, as well as the architects, builders and financing entities, whose redevelopment projects have benefited their communities […]
FY 2019 Budget Update
Dear Committee Members, Last night, both houses of the Legislature passed their FY 2019 Budget proposal (S-2019), sending it to Governor Murphy for his consideration. The Governor held a press conference yesterday, where he announced that he would not accept the Legislature’s budget proposal. The Legislature’s $36.5 billion proposal includes an increase in New Jersey’s […]
NJBIA Urges YES Vote on Public Question No. 1
The New Jersey Business & Industry Association today urged voters to approve Public Question No. 1 on the ballot Tuesday, November 7—the proposed act that will allow the state to sell $125 million in State general obligation bonds. The goals of the bond act are to upgrade public library facilities to meet community needs and […]