NJBIA President & CEO Michele Siekerka discussed the findings of NJBIA’s 64th Annual Business Outlook Survey on ‘New Jersey Business Beat with Rhonda Schaffler,’ and noted that affordability and high taxes are top of mind for the state’s employers as they look ahead to 2023.
“The business community actually said to us when asked what do you think government could do to make New Jersey more affordable for you and they said three things: Please, please reform the property tax, the corporate business tax and the income tax,” Siekerka said.
“And we’ve been saying this for years, Rhonda – at the heart of all this is the taxing environment here in the State of New Jersey,” Siekerka said. “But certainly, there are other factors driving the cost of doing business today given inflation, workforce shortages, supple chain, etcetera.”
NJBIA’s 64th Annual Business Outlook Survey found that 82% of business owners think New Jersey is unaffordable. And 75% of respondents said Gov. Phil Murphy and the Legislature were not doing enough to improve business affordabiity.
To read the entire report, which surveyed New Jersey business owners on affordability issues, inflation, supply chain challenges, staffing, sales, profits and their outlook for the state and national economies, go here.
To watch the entire “NJ Business Beat TV” interview, which aired Sunday on NJPBS, go here.
