Governor Phil Murphy has signed an Executive Order to establish a new Economic Council in New Jersey, supported by a Development Coordination Committee. The Council aims to provide a forum for dialogue between the business community and state government, addressing issues that impact both sectors and promoting economic growth.
"The Economic Council will ensure that we continue to have a healthy collaboration between the business community and the state government," stated Governor Murphy. He emphasized the importance of this collaboration for stimulating economic growth in New Jersey.
Since Governor Murphy took office, his administration has collaborated with legislative partners and industry stakeholders on policies aimed at facilitating economic development. Despite challenges posed by the global COVID-19 pandemic, New Jersey has seen an increase of over 40,000 small businesses since 2018.
The Economic Council will be co-chaired by the Deputy Chief of Staff for Economic Growth and Tim Sullivan, CEO of the New Jersey Economic Development Authority (NJEDA). "New Jersey’s economy has grown stronger under Governor Murphy’s leadership," said Sullivan. He expressed his commitment to working with government partners and stakeholders to achieve the administration's economic goals.
Eric Brophy, Deputy Chief of Staff for Economic Growth, noted that the establishment of the Council marks significant progress in improving relations with the business community. "The Economic Council will further cultivate our ambition to make business in New Jersey less complicated," he added.
Tom Bracken, President & CEO of the New Jersey Chamber of Commerce, welcomed the creation of an economic council as a means to enhance cooperation between government and businesses. He expressed hope that it would lead to a more competitive economic landscape.
The Development Coordination Committee within the Council will focus on streamlining intergovernmental reviews for complex development projects. It aims to improve communication among various governmental entities involved in financing and permitting these projects.
This committee will include representatives from several departments and agencies such as Community Affairs, Environmental Protection, Transportation, EDA, Housing and Mortgage Finance Agency, Schools Development Authority, and Infrastructure Bank. They are tasked with recommending policies or reforms to reduce barriers to development or construction delays.
For more details on this initiative or access to Executive Order No.369 visit [State of New Jersey website](https://www.nj.gov).
