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Assemblyman Kevin J. Rooney ,”New Jersey’s Democrats can’t even agree on how much to increase spending and how much to raise taxes; meanwhile the state careens ever faster toward financial disaster”

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Let me try to put this year’s state budget insanity into perspective. Last year the Democrat Legislature shutdown the government because they were fighting over a $34.7 billion dollar spending plan, and this year they are fighting with Democrat Governor Phil Murphy over two spending plans: their plan to spend $36.5 billion and Murphy’s plan of $37.4 billion. Except this time it is over which taxes to hike to fund their irresponsible spending increase.

New Jersey’s Democrats can’t even agree on how much to increase spending and how much to raise taxes; meanwhile the state careens ever faster toward financial disaster. New Jersey has had more people move-out the past six years than any other state in the nation because housing costs and taxes are sky-high, which makes me ponder when New Jersey Democrats will stop the insanity.

Assemblyman Kevin J. Rooney

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Moving Out Costs New Jersey Big

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September 25,2017

the staff of the Ridgewood blog

Ridgewood NJ, The Garden State saw a net decrease in population, with the number of people that moved out of the state of roughly 33,700, costing New Jersey about $2.6 billion in taxable income between 2014 and 2015, according to a USA Today Network analysis of IRS migration data.

New Jersey is constantly ranked as the worst business climate in the USA and the state the leads the nation in people wanting to leave .

According to OpportunityNJ, New Jersey ranks dead last in national rankings on the impacts of our four most significant taxes: property, income, sales and corporate business tax.Outmigration of New Jersey residents has had a significant impact on the state’s economy. High taxes and numerous barriers for business operations are causing people to leave the state which has led to the loss of income, economic activity and job creation.

OpportunityNJ (ONJ) is a non-partisan, grassroots coalition comprised of New Jersey interests representing employers, employees, business, trade groups, community organizations and other concerned citizens in the State.

This exodus has become so concerning to New Jersey business leaders that they have championed a campaign to make the state more affordable for its residents and more attractive to out-of-state residents on the move.

“We are at the bottom of every tax ranking. We have an affordability issue. We know why people are leaving,” Michele Siekerka, president and CEO of New Jersey Business and Industry Association.

Her organization estimates that New Jersey has lost over $21 billion in adjusted gross income since 2004 from people leaving the state. That translates to about 87,000 jobs, $13 billion in lost economic activity and $4.6 billion in lost labor income, Siekerka said.

Addressing the affordability issue would help keep seniors and millennials, both of which are the leading demographic groups leaving New Jersey, Siekerka said. When seniors leave, they take with them the bulk of the lost income. But when millennials flee, they take with them a life time of potential earnings. It’s a hit to the state’s future workforce, which means the state sees no benefit from roughly $250,000 per student in public education spending.“We invest in our K-12 education system significantly to have a good product,” Siekerka said. “When millennials leave New Jersey, we aren’t getting a return on that investment.”

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Born and raised in New Jersey — Now get me out of here

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By Dino Flammia July 17, 2017 4:23 PM

On day two of our three-part series about different generations’ views about the state in which they live, we hear from a couple of families who still have more than two generations living in New Jersey.

While the oldest members stuck it out in New Jersey for most or all of their lives, there’s no shortage of folks heading toward retirement who say they want out.

Part 1: What senior citizens think about living in New Jersey

In the aftermath of World War II, Camilla Pankewytch (Moog before marriage) came to New Jersey from Germany at age 20. She had been “hungry for six years” overseas and was immediately fascinated by New Jersey and the new life it would offer.

“You could get everything here. It was a relief,” she said.

That new life included a marriage, a child and two stepchildren.

The 88-year-old has been here ever since. She bounced around between Newark and Irvington, then lived in Lakewood for 27 years, and most recently moved in with her son, daughter-in-law and grandson in the Ramtown section of Howell.

Both George, 60, and Patricia, 58, were born and raised in Newark — a very different Newark than what exists today, they noted.

Read More: Born and raised in New Jersey — Now get me out of here | http://nj1015.com/born-and-raised-in-new-jersey-now-get-me-out-of-here/?trackback=tsmclip

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BUSINESSES WORRY THAT TOO MANY MILLENNIALS HEADED OUT OF NEW JERSEY

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JOHN REITMEYER | MARCH 22, 2017

Millennials are leaving Garden State at a faster clip than any other group; that’s a concern for business groups, who want to keep them here

Michele Siekerka, president and CEO of the New Jersey Business & Industry Association, addresses conference on millennials and the state workforce.

Last year, the size of the nation’s millennial generation grew enough to top baby boomers and become the largest of the five living generations. But in New Jersey, business leaders are tracking a different trend as millennials have been leaving the state at a higher rate than other groups.

The loss of millennials is not only a waste of taxpayer investment in their K-12 education, but there are also concerns that it could be having a broader impact on a state economy that has taken several years to fully recover from the Great Recession.

That’s caused business leaders to begin talking about ways to keep New Jersey’s millennials from leaving the state in the first place, as well as doing things to attract millennials from other states as they launch their careers, and as more and more boomers here reach retirement age.

“It’s a challenge that is screaming out for some attention and some solutions,” said Michele Siekerka, president and CEO of the New Jersey Business & Industry Association. The NJBIA hosted a daylong conference in East Windsor yesterday on the issue of millennials and the state workforce.

http://www.njspotlight.com/stories/17/03/21/businesses-worried-that-too-many-millennials-headed-out-of-nj/

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New Jersey, 67 percent of moves were outbound

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What the Top 5 States People Are Moving From Have in Common

Salim Furth / @salimfurth / January 06, 2016

Salim Furth, Ph.D., researches and explains how public policy affects economic growth as a research fellow in macroeconomics at The Heritage Foundation’s Center for Data Analysis.Read his research.

Americans are moving to places with affordable costs of living and strong labor markets (or good retirement communities). The top destination states of 2015could hardly be more different geographically and culturally: Oregon and South Carolina. What they have in common is that both states are relatively affordable places to live.

The data on moving comes from United Van Lines, which ranks the states based on the proportion of interstate moves that were inbound or outbound.

In Oregon, 69 percent of moves were inbound. The state with the worst ratio was New Jersey, from which 67 percent of moves were outbound.

The top five outbound states of 2015 were:

New Jersey
New York
Illinois
Connecticut
Ohio

In metro Portland, Ore., the average owner-occupied home cost $305,402 in 2013, compared to $380,420 in Seattle or a budget-busting $730,156 in San Francisco. But even in Portland there is room for improvement: Easing regulation a bit could make the average house $39,000 more affordable.

In South Carolina, homes are even cheaper, with free-market competition keeping the price of a new home close to the actual construction cost.

Where urban and suburban land use regulation is modest, builders can meet demand with new supply. In places like San Francisco and Boston that lack that flexibility, people leave despite those cities’ high wages and dynamic economies.

Moving patterns show how important cost of living is to American families. With perfect weather and a booming, high-tech economy, California ought to be the #1 destination. Instead, more moving trucks are leaving the state than entering.

The top five inbound states of 2015 were:

Oregon
South Carolina
Vermont
Idaho
North Carolina

Policymakers can lower the cost of living by removing unnecessary regulations and licensure requirements, streamlining bureaucracy, and ending protections that have been granted to favored industries.