Senator Joe Kyrillos, a member of the Senate Economic Growth Committee, issued the following statement regarding a report in the publication NJ Biz that two more companies were fleeing the high taxes and poor business climate created by Governor Corzine and his allies in the Legislature:
“I am greatly disturbed by the report two more companies are leaving New Jersey for other states. The loss of E-Trade Financial and Archer Daniels Midland Co. (ADM) will cost the communities of Jersey City and Glassboro 225 jobs. The speed at which the Democrats’ policies are chasing jobs over the Delaware is truly alarming and illustrates just how ineffective the Corzine Administration’s stewardship of New Jersey’s economy has been.
“Sadly it appears that Jon Corzine is the best economic development spokesman that Pennsylvania ever had. New Jersey will be the only state in the nation to have fewer jobs at the end of the decade than it had at the beginning of the decade. Contrary to the Governor’s assertions, there are no global economic forces to blame for this latest exodus of jobs from our state. ADM is moving their cocoa processing to Hazleton, Pennsylvania, less than110 miles from Trenton.
“I am more disturbed by comments from a Rutgers University economist which indicate that the hemorrhaging of jobs from New Jersey is a result of high taxes. Until we reverse policies that see higher taxes as some sort of virtue and hold entrepreneurship in contempt, this state will continue to fall farther and farther behind our neighbors. The job-killing tax, borrow and spend policies of the last eight years are transforming New Jersey from one of the most competitive and prosperous states in the nation to second tier status.”
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March 20, 2009
