Legislation sponsored by Senator Sam Thompson (R-Middlesex, Burlington, Ocean Monmouth) to promote economic growth by expanding the study of trends and opportunities for business in the state was advanced by the Senate State Government Committee.
“This will give us a central collection point for all of this data,” Senator Thompson said. “That will allow us to perform a better analysis of the business climate in the state and find out what we can do to help it.”
The legislation, S-422, establishes the Office of Economic Research within the New Jersey Business Action Center. The office will be tasked with gathering all kinds of information related to the problems and needs of businesses in the state. It will gather information related to things like industrial trends and transportation infrastructure and will identify ways the state can help cultivate growth in the business sector.
The office will use demographic and workforce information to assist the needs of businesses proposing to move operations into, or expand within the state. It will help ensure the availability of a workforce that is trained to meet the needs of the potential businesses.
“For years we’ve always ranked at the bottom in terms of business friendliness,” Senator Thompson said. “We need to dig into the data to find the reasons for that and begin to make changes that will promote economic development. We need to start making smart decisions that will create jobs and make New Jersey better for its residents.”