The New Jersey Chamber of Commerce is pleased that Gov. Murphy has introduced a budget that includes no new taxes and fees. We particularly commend the governor for reiterating his promise to allow the Corporation Business Tax (CBT) surcharge to sunset at the end of 2023. Now it is up to the members of the Legislature to do the right thing and pass this in June. The governor’s position on this is correct. It will help make the state more competitive and more affordable. It will also demonstrate that our leaders honor their commitments, which results in the reliability that businesses seek. Still, even after the CBT surcharge expires, New Jersey will have fourth highest CBT rate in the nation, which should be targeted for further reductions.
As you may already know, our ReNew Jersey Business Summit & Expo is fast approaching on March 14 and 15 at Harrah’s Resort Atlantic City – and we need you there! This will be the Chamber’s biggest and most important event of the year, and a big turnout is critical to its success. The Summit will be attended by hundreds of business, nonprofit and government leaders to discuss and explore ways New Jersey can best position itself for a bright economic future.
The New Jersey Chamber of Commerce is calling out members of the 'For the Many NJ' coalition for asking Gov. Murphy and the Legislature to renege on the state’s promise to sunset the Corporation Business Tax (CBT) surcharge at the end of 2023. The coalition is wrong on so many levels, the N.J. Chamber said.
#ReNewJersey
The New Jersey Chamber of Commerce strongly disagrees with recent comments criticizing Gov. Murphy’s verbal support of ending the state Corporation Business Tax (CBT) surcharge when it expires at the end of 2023. We applaud him for taking this position, especially since the CBT surcharge was already extended once.
I hope everyone is having a great start to the New Year. I am already encouraged that 2023 will be a year in which the governor’s office and Legislature focus on implementing policies that help New Jersey companies during this time of great economic uncertainty. That’s because recent comments and actions by the governor and legislative leaders endorse pro-economic growth measures that the New Jersey Chamber of Commerce and other business groups have been seeking for quite some time.
The New Jersey Chamber of Commerce applauds Gov. Murphy’s recent comments supporting Senate Budget Committee Chair Paul Sarlo’s proposal to end the state Corporation Business Tax (CBT) surcharge when it expires at the end of 2023. The governor also, in the same interview, alluded to no new taxes and significant tax cuts for New Jersey. All of this makes our state more competitive and affordable.
The New Jersey Chamber of Commerce applauds Gov. Phil Murphy for all his administration has been doing to prepare the New Jersey economy for 2023 and beyond – and we endorse his pro-New Jersey message. The state has a lot to be proud of and we have not leveraged those positives as much as we should. Today’s optimistic message will hopefully begin to reverse that.
Economic development projects in New Jersey are often subject to lengthy delays because municipalities may not have the resources to turn-around construction inspections in a timely manner. This unfairly stalls projects and increases costs for developers. In the meantime, towns and cities miss out on the much-needed tax revenue that result from completed projects.
Congratulations to Netflix on purchasing the former Fort Monmouth 292-acre site to build a state-of-the-art production facility. We salute the Governor and his team, the New Jersey Economic Development Authority and Choose New Jersey for all their efforts to bring this transformative project to this prime piece of real estate in New Jersey. When completed, the project will cost more than $900 million and create thousands of jobs for state residents. That will be quite a long-term boost to Monmouth County’s and the state’s overall economy. Netflix officials stated they chose the historic Fort Monmouth site because they were impressed by its prime location on the East Coast and since they will have access to our quality workforce. That speaks volumes to what New Jersey has to offer Netflix and other companies considering the state.
NJCC Small Business Series
Recruiting and Keeping Talent During Challenging Times
Where: Virtual Event
When: 9 a.m. - 10 a.m.
Free to participate
ReNew Jersey Business Summit & Expo 2023
Where: Harrah's Atlantic City
NJCC Business Roundtable Series
Breakfast with Assemblywomen Muñoz & Swain
Where: TBD
When: noon – 2:30 p.m.
NJCC Business Roundtable Series
Lunch with State Senators Sarlo & Oroho
Where: Hilton Garden Inn Hamilton
When: noon – 2:30 p.m.
NJ Chamber Challenge Cup Golf Tournament
Where: Bedens Brook Club, Skillman
When: Registration opens at 10 a.m.
26th Annual NJ Chamber Open House and Reception
Where: The New Jersey State Museum, Trenton
When: 4 p.m. to 7 p.m.
Annual Member Holiday Party
Where: Calandra's Italian Village, Caldwell
When: 5 p.m. - 8 p.m.