the staff of the Ridgewood blog
TRENTON, NJ — CNBC has released its 2025 ranking of America’s Top States for Business, and New Jersey landed in 30th place overall. While the Garden State scored well in some categories, its persistent struggles with business costs, taxes, and regulations continue to drag down its overall competitiveness.
NJBIA President & CEO Michele Siekerka responded to the ranking with a balanced but urgent message for policymakers:
“Like many of the states in this national ranking, New Jersey has much to be proud of and concerned with as it relates to business. We continue to be encouraged by our rankings in more foundational metrics like quality of life and education. We also saw good improvements in technology and innovation and infrastructure.”
But the positive notes quickly gave way to the hard truth about why New Jersey continues to fall behind.
📉 The Pain Points: Business Costs & Taxes
According to Siekerka, New Jersey remains at the bottom of the pack for business friendliness, while cost of doing business and cost of living remain among the highest in the nation.
“This reaffirms that our exceedingly high business taxes, income taxes, property taxes, and extreme regulatory burdens do indeed have consequences—both for our national business reputation and for our overall decline in Fortune 500 companies,” she explained.
New Jersey’s corporate tax rates and dense regulatory climate have long been cited as key barriers to attracting and retaining major employers. Despite its strategic location and skilled workforce, companies continue to migrate to lower-cost, more business-friendly states.
✅ What’s Working: Quality of Life & Innovation
It’s not all doom and gloom. New Jersey scored highly in quality of life and education, offering some of the best schools and healthcare options in the country. The state also saw improvements in technology, innovation, and infrastructure, signaling potential for future growth in emerging industries.
Still, as Siekerka noted, high living costs negate much of these advantages, making it harder for businesses to recruit and retain talent.
🏗️ NJBIA’s Blueprint for a Competitive New Jersey
The NJ Business & Industry Association (NJBIA) has long pushed for pro-growth reforms, outlined in their 2025 Blueprint for a Competitive New Jersey.
The Blueprint emphasizes:
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Reducing excessive taxes on businesses and individuals
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Streamlining regulations that stifle innovation
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Creating incentives for job creators to stay and grow in-state
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Improving workforce development programs
“We have the ability to make considerable improvements in our approach to business,” Siekerka said. “We just need the will and appetite for it. We’re looking to our next Governor to take bold steps to make New Jersey a truly competitive destination for job creators.”
🌐 Why This Ranking Matters
CNBC’s Top States for Business ranking is widely watched by corporate leaders, investors, and economic development agencies. Falling to 30th place sends a clear signal that New Jersey has work to do to improve its business climate—or risk losing more employers to competitor states like North Carolina, Texas, and Florida.
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Three clowns.
I was thinking Three Stooges.
CNBC?????
Are you fuc&%%g kidding me????