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Linden NJ, Air Protection Packaging Corp., based in Linden, New Jersey, wants to move its headquarters and manufacturing facilities to the former Alfa Laval building in the Town of Poughkeepsie in Dutchess County , New York.
Continue reading New Jersey Bubble Wrap Company Looking to Relocate to Dutchess County
Assemblyman DePhillips moves to make New Jersey America’s innovation leader
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Trenton NJ, New Jersey’s corporate business tax has led to an exodus of investment in the state once called the nation’s medicine chest. New Jersey is fifth out of seven states in the region for innovation, according to an NJBIA study, and experienced the largest loss of undergraduate students by more than 21,000.
Continue reading New Bill Looks to Spur Research and Investment in New Jersey
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Trenton NJ, During today’s meeting of the New Jersey Senate to consider legislation (S-3295) to reestablish a State tax incentive program, Senator Anthony M. Bucco (R-25) urged his colleagues to support an amendment to the bill that would include $300 million for emergency relief of small businesses and nonprofits struggling under the impact of COVID-19.
Continue reading Small Business and Non Profit Tax Incentive Bill Blocked by Democrats
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Ridgewood NJ, yes that’s right tax the rich but according to the New York Post analysis which found that almost 1,000 people a day are moving to Florida ,mostly from the northeast. Its seems high taxes, high crime rates and lock downs have taken there toll.
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Morris Plains NJ, the Appellate Division denied a request on Thursday to expedite proceedings for a New Jersey business that closed its door because of Gov. Phil Murphy’s back-to-back emergency COVID-19 executive orders, which have since resulted in the closure of more than one-third of the state’s small businesses.
Ridgewood NJ, The Murphy Administration has declared that restaurants and other establishments with outdoor tents must apply for a Uniform Construction Codes permit by Monday.
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Morris Plains, NJ, After filing a lawsuit against Gov. Phil Murphy in September for his violations of the Disaster Control Act, the business owner who filed the suit says she must close her business
at the end of October.
Continue reading CKO Kickboxing That Sued Governor Murphy Has Decided to Shut Down for Good
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Trenton NJ, A new report shows that New Jersey ranks dead last in the nation for our overall Business Tax Climate. Delaware is 13th, Pennsylvania is 27th, and New York is 48th. New Jersey also ranks 46th in property taxes, 48th in corporate taxes, and 50th in individual taxes.
Continue reading New Jersey Ranks Dead last in the Nation for our Overall Business Tax Climate
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New Brunswick NJ, New Jersey gained back half of the jobs lost due to the coronavirus pandemic but a wide disparity remains between higher-income professionals working at home and lower-wage support workers still bearing the brunt of the economic downturn that has gripped the nation, according to a new Rutgers report.
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Mahwah NJ, The New Jersey Business & Industry Association today said a bill that would impose a new tax on electronic stock trades processed in New Jersey could easily lead to exchanges leaving the state, resulting in a loss of jobs and tax revenue in yet another hit against New Jersey’s business competitiveness.
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Mahwah NJ, The New Jersey Chamber of Commerce opposes legislation (S-2902/A-4402) which would impose a new tax on financial transactions, such as electronic stock trades, that flow through major data centers in New Jersey.
Simply put, the tax could backfire on New Jersey. The mere discussion of this tax has caused several stock exchanges to begin exploring moving their data centers out of New Jersey – to states that don’t impose such a tax. Last month, the New York Stock Exchange, which has a data center in Mahwah, N.J., said it ran one of its exchanges from a back-up data center in Chicago to demonstrate its readiness to move out of New Jersey. Two other exchange operators, Nasdaq Inc. and Cboe Global Markets Inc., also indicated that they would leave New Jersey over the tax. If New Jersey loses data centers, the state would actually be looking at less revenue and less jobs.
Continue reading Financial Transition Tax Will Drive Data Centers Out of New Jersey
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MORRISTOWN NJ, On October 15th, New Jersey’s Department of Labor and Workforce Development issued the monthly jobs report for September 2020. Dr. Charles Steindel, former Chief Economist of the State of New Jersey and current Resident Scholar, Anisfield School of Business at Ramapo College, analyzed the report for the Garden State Initiative:
Continue reading Astonishing Collapse in Labor Participation Rate in New Jersey
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Morristown NJ, On October 2nd, the United States Bureau of Economic Analysis issued its report on the Gross Domestic Product (GDP) by State for the 2nd Quarter of 2020. The report, which covers April through June, is the second GDP report to show the impact of the COVID-19 pandemic on the U.S. economy.
Continue reading New Jersey’s real GDP fell at a 35.6% annual rate in the second quarter
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Trenton NJ, NJBIA President and CEO Michele Siekerka issued the following statement regarding the revised FY2021 State Budget signed today by Gov. Phil Murphy.
Continue reading Governor Murphy budget will do great damage to New Jersey businesses and taxpayers
the Biggest Tax Increase of All?
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Trenton NJ, The state budget approved by the legislature today includes borrowing $4.5 billion and increased taxes on corporations, millionaires, and Health Maintenance Organizations. What’s not in the limelight today is the expected increase in unemployment taxes that will fall on every business next year to pay for the massive number of New Jersians who have filed for unemployment benefits.
Continue reading Leap in Unemployment Taxes will be Final Knockout Punch for Small Businesses
