April 26, 2026
Newark — New Jersey is stepping up its efforts to host the 2026 FIFA World Cup, grow its film and television sector, and cut red tape for businesses as part of a coordinated push to strengthen the state’s economy.
“New Jersey is not sitting back — we are actively building the infrastructure and partnerships needed to turn these major events into lasting economic gains,” said Evan Weiss, CEO of the New Jersey Economic Development Authority (NJEDA).
The NJEDA recently approved $20 million to support the New York New Jersey Host Committee for the World Cup. This includes $5 million in community grants to help local businesses benefit from tourism, watch parties, and related events. With MetLife Stadium in East Rutherford scheduled to host multiple matches — including the final — officials expect a major boost to hospitality, retail, and small businesses across the state.
“This is a once-in-a-generation opportunity to showcase New Jersey to the world and drive real investment into our communities,” noted Weiss.
The state’s film and television industry is also expanding rapidly. Major studio projects are moving forward in Monmouth County (Netflix), Newark’s South Ward (Lionsgate), and Bayonne (1888 Studios). These developments, backed by New Jersey’s film tax credit program, are expected to create thousands of jobs and bring hundreds of millions of dollars in production spending to the state.
“The film industry has become a genuine economic engine for New Jersey, creating high-quality jobs and attracting major talent and investment,” said Weiss.
Governor Mikie Sherrill is focusing on making it easier to do business in the state. In a new executive order, she launched the “Saving You Time & Money” initiative to streamline permitting processes — especially at the Department of Environmental Protection, which has long been a major hurdle for developers and companies.
“Streamlining permitting processes is critical to reducing costs, boosting innovation, creating good jobs, and growing the economy,” emphasized Governor Sherrill.
Challenges Remain
Despite the positive momentum, New Jersey businesses still face high operating costs, elevated energy prices, and workforce shortages. The state recorded a net job loss in February, though the overall labor market remains relatively stable.
“Affordability, energy costs, and workforce development remain the top concerns for New Jersey executives heading into the rest of 2026,” said participants at recent business roundtables.
World Cup preparations have also sparked debate over proposed high transit ticket prices for MetLife Stadium events. The Sherrill administration has defended the costs as necessary to cover infrastructure and security while still delivering net economic benefits to the state.
“The state’s economic future depends on converting these high-profile opportunities into broad-based competitiveness for businesses and residents,” noted regional economists.
If executed well, New Jersey’s strategy around the World Cup, film production, and regulatory reforms could help attract more investment and improve the state’s business reputation in the competitive Northeast.
JbizNews Desk New Jersey
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