Nearly 400 attendees gathered at the NJBIA’s ELC Reception on Tuesday night to hear from Republican gubernatorial candidate Jack Ciattarelli and Democratic candidate Mikie Sherrill. Both candidates emphasized their commitment to improving New Jersey’s business climate.
Congresswoman Mikie Sherrill, a former Navy helicopter pilot, outlined her plans to reduce bureaucracy for businesses, lower energy and healthcare costs, and expedite licensing processes. “We need to take bold action to make our state more affordable by lowering the cost of housing, the cost of utilities, and the cost of healthcare,” she stated. Sherrill also expressed her desire for New Jersey to become a leader in advanced technology research and development.
Jack Ciattarelli, a former state assemblyman and entrepreneur, pledged to lower or eliminate business taxes and reduce regulatory burdens. He proposed creating small-staffed departments within his administration focused on commerce and energy. “One of my primary objectives is to make New Jersey a better place to do business,” he told attendees at the Palace in Somerset.
Sherrill highlighted recent CNBC rankings that placed New Jersey low in terms of business friendliness and cost of doing business. She promised change if elected governor: “It’s unacceptable and I will change it as governor.”
Ciattarelli criticized current Governor Phil Murphy’s approach to taxation during his tenure. He proposed reducing New Jersey’s Corporation Business Tax gradually over six years from its current rate of 11.5%. Additionally, he suggested adopting Delaware’s corporate governance bylaws and making gains from IPO stock sales tax-free if headquartered in New Jersey.
While Sherrill did not focus on tax cuts, she emphasized enhancing the state’s Business Action Center for better collaboration with businesses. She advocated for transparency through an online dashboard tracking permit applications.
The NJBIA ELC event marked the first post-primary gubernatorial appearance where both candidates addressed the business community. Michele Siekerka, NJBIA President and CEO, expressed pride in continuing this tradition: “NJBIA is proud to continue our 60+ year tradition of presenting the gubernatorial primary winners for their first joint presentation following the primary.”
During the reception, NJBIA introduced its 2025 Blueprint For A Competitive New Jersey—a strategic plan aimed at fostering affordability and economic excellence in the state.
Siekerka added: “This policy document is a roadmap to a more affordable and regionally competitive business climate.”
