Incentivizing the right businesses in NJ
Republican state lawmakers held a roundtable discussion Thursday in Trenton with representatives from 15 business organizations.
Business tax incentives were also discussed, with a focus on making sure incentives that are already available in New Jersey are being offered to the right industries.
“There needs to be a shift of where we’re going to focus those programs when it comes to industry and where it’s going to be most productive,” Rodriguez-Gregg said. “Certain industries are certainly going to have better growth in New Jersey.”
Since the pharmaceutical and energy industries are highly likely to create jobs and contribute to the state’s economy, it makes sense to ensure New Jersey is doing everything possible to make incentives attractive to those industries, Rodriguez-Gregg said.
Surrounding states are offering incentives to businesses that are working, such as New York’s tax-free zones, according to David Brogan, first vice president of the New Jersey Business Industry Association.
Rodriguez-Gregg said she’s concerned that New Jersey could lose jobs if incentives aren’t offered in a smart way. “I think that’s a concern for everyone. We are starting to see that.”