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New Jersey Gov. Mikie Sherrill signed an executive order Tuesday directing state agencies to review business costs and coordinate an economic development strategy through 2030, with deadlines for recommendations on taxes, fees, licensing, investment and small-business services.
Executive Order No. 28, signed November 10 and effective immediately, launches the “New Jersey Means Business” strategy. It orders plans and reviews, rather than enacting tax cuts, appropriating new money or guaranteeing jobs.
A new Economic Development Council will report to the governor’s chief operating officer. Its members include the New Jersey Economic Development Authority, New Jersey Innovation Authority and the departments of State, Labor and Workforce Development, Community Affairs and Treasury.
Within 90 days, the chief operating officer must provide initial recommendations to reduce the cost and complexity of starting, operating and growing a business. The review covers administrative processes, duplicative requirements, taxes and fees, energy and licenses, including costs across different levels of government. Recommendations must identify their fiscal, legal, regulatory and administrative implications.
The same 90-day window covers a proposed site-readiness plan, a business-retention and expansion plan, and options for business attraction. State agencies must also be convened within 90 days to begin developing an updated workforce and talent strategy.
Within 120 days, the order calls for identifying priority sectors for the governor’s review, reviewing existing incentives and funding programs, and recommending a statewide research, development and commercialization strategy. It also requires a strategy to improve small-business access to state services and the creation of an advisory group focused on small and midsized businesses.
Within 150 days, the state must create a cross-agency business and permitting navigation service for qualifying projects. Its work includes proposing a single state project lead and agency responsibilities. The order does not itself waive permit requirements or override agencies’ legal authority.
The council must publish an annual public progress summary. Implementation remains subject to applicable state and federal law and available appropriations.
The governor’s announcement describes the initiative as an effort to improve business competitiveness and investment. The NJEDA’s announcement also identifies November 10 as the signing date.
JBizNews Desk | New Jersey Business
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