Platform Update

December 2009

ACTION ITEMS

Economic Development Agenda Presented to Christie Transition Team: Gil Medina, chairman of the Platform Economic Development Coalition, presented the Coalition’s Program for Economic Growth to Governor-Elect Chris Christie’s Economic Development and Growth sub-committee. The Coalition’s agenda includes policy and process recommendations for enhanced economic growth and competitiveness. Our Program for Economic Growth can be found here.

Chamber Economic Policy Forum: The Chamber released the results of its latest executive survey at the annual Economic Policy Forum held last week. The Chamber, Cushman & Wakefield and our partner trade associations created the Forum to bring together key stakeholders to discuss economic challenges and opportunities facing New Jersey . The forum focused on the results of our twice-yearly C-Suite Survey, which was first conducted in the fall of 2007 by the Edward J. Bloustein School of Planning and Public Policy at Rutgers University . This survey of New Jersey executives is designed to identify factors that hinder our state’s competitiveness and to solicit recommendations for improvement. 

At the forum, the latest C-Suite survey results were presented and compared to previous surveys, and association leaders and executives discussed the results and their ideas for improving New Jersey ’s business climate. View the C-Suite survey results.

Urban Transit Hub Tax Credit Rule Proposals: The New Jersey Economic Development Authority (EDA) has proposed amendments to the Urban Transit Hub Tax Credit Program to implement legislative changes enacted earlier this year. This program provides tax credits for businesses that engage in significant capital investments in urban transit hub areas, defined as properties located within a half-mile of a rail station in municipalities that qualify for urban aid. EDA’s proposed rules address various components of the program, including definitions, eligibility, restrictions, project agreements, credit amounts, caps and forfeiture of tax credits. You may submit comments on the proposed rules to EDA by January 1, 2010.

Economic Development Legislation: On December 14, the Senate Economic Growth Committee released S-3137, which extends state, county and municipal permits issued after Jan. 1, 2007 until Dec. 31, 2012. This extension would prevent permit approvals from expiring -- and save businesses the time and effort involved in re-applying for the same permits. Businesses cannot easily obtain financing under existing economic conditions and in some cases are forced to delay scheduled projects that have already been approved. This results in some of these permit approvals expiring before the projects are completed. Given that the permit application process is time-consuming and expensive, it makes sense to allow additional time for stalled projects to be completed. Businesses may not have the time and money to repeat the application process and may abandon these projects or take them to other states, making this latest extension an important business retention tool. This bill now heads to the full Senate for approval.

The Senate Economic Growth Committee also passed S-2985, which provides critical provisions for the implementation of the Water Quality Management Planning rules. This bill extends for three years the period of time allowed for wastewater management planning agencies to prepare and submit a wastewater management plan or a wastewater management update to the DEP. The bill also establishes a specific requirement for notice and public hearing whenever the DEP proposes to remove property from a sewer service area. Lastly, the bill requires the State Planning Commission to evaluate, study and review the accuracy, validity, feasibility, and practicability of sewer service area mapping, data, models, or any other information provided by the DEP to wastewater management planning agencies. Increasing transparency, certainty and predictability in planning activities by local government and business is critical to ensuring economic growth in the state.

New Energy Program for Small Business: The New Jersey Board of Public Utilities (BPU) recently launched Direct Install, a new program for small and mid-sized businesses. Direct Install offers businesses a free energy audit and covers 80 percent of the costs for the energy efficiency upgrades recommended in the audit. This program is available to small to mid-sized commercial and industrial facilities with a peak electric demand of 200 kilowatts or less. Buildings must be located in New Jersey and served by one of the state’s public, regulated electric or natural gas utility companies. View the BPU Clean Energy website for additional information about this program.

Click here for the previous update.

MaryEllen Peppard
Government Relations Manager
New Jersey Chamber of Commerce
216 West State Street
Trenton, NJ 08608
Phone: (609)989-7888 Ext. 125
Fax: (609)989-9696
Maryellen.Peppard@njchamber.com