Economic Development

The information below is taken from Murphy campaign publications.  These are issues that NJ SEED is considering taking a position on for the incoming Murphy Administration.  Staff will process these items, and items submitted by submissions from NJ SEED members, into a lightweight policy document per reflecting NJ SEED committee (Economic Development, Energy, Environment and Transportation) analysis and positions to be presented to the incoming Governor and his Administration.

Economic Development:

Increased revenues from a reinvigorated economy

Murphy promises to convene an Innovation Cabinet, bringing together people from inside and outside government, as partners rather than adversaries, to work towards a common goal of getting state government to move at the speed of innovation by:

  •  Updating government technology to improve the “customer experience;”

  • Systematically reviewing all federal grants to fight for every federal dollar; and

  • Streamlining permitting processes and handling applications in a timely manner.

 

Discussion Question: How does NJ SEED position itself to be a part of the “Innovation Cabinet”?

 

The Public Bank:

Murphy will take money out of Wall Street and put it to work for New Jersey — creating jobs and growing the economy — through an innovative new public bank to make critical investments in our state and its people. By using state deposits to finance local investments, the Public Bank will support billions of dollars of critical investments in infrastructure, small businesses, and student loans — saving our residents money and returning all profits to the taxpayers.

 

Discussion Question: How will such a bank affect current NJ banks and will it be used to drive a political agenda of rewards and punishments?

 

Jobs:

  • Prepare students for the new economy. New Jersey’s current workforce development programs are lagging at all levels. Vocational schools are oversubscribed and their equipment is out of date.

  • Make job training work. New Jersey trails both advanced countries and the rest of the US in apprenticeship enrollment. Murphy proposes to restructure workforce funding to promote effective and innovative models of on-the-job training.

  • Support New Jersey’s essential industries, including healthcare, biotechnology, logistics, and advanced manufacturing. Murphy promises to make sure that employers in these fields can hire qualified candidates and that entrepreneurs can start new, high-growth businesses.

Discussion Question: Should NJ SEED endorse and ask Murphy Administration to support the Higher Education Reform and Opportunity Act (HERO Act)?

 

Please submit your issues and any accompanying information to info@njseed.org