The Murphy Administration announced March 8 that Kevin Quinn, chairman of the New Jersey Economic Development Authority (NJEDA), is departing to take a role in the Biden Administration, and that the governor will appoint Terence “Terry” O’Toole to fill the role.
Quinn, who served as board chair since 2019, will take a senior role in the CHIPS Program Office within the U.S. Department of Commerce.
“It has been a privilege to serve as chairman of the EDA during these pivotal years,” said Quinn.
In a statement, Gov. Phil Murphy thanked Quinn for his efforts, congratulating him on his tenure as board chair, and wishing him success in this next endeavor.
“Kevin Quinn’s thoughtful guidance has helped reposition the EDA to maximize opportunities in high-growth sectors and invest in our communities while upholding transparency, equity, and inclusiveness,” said Murphy.
“Gov. Murphy appointed me at a time when the EDA needed reform, and I am so proud of the work we accomplished throughout the pandemic and beyond to restore faith, make New Jersey more competitive, and unlock economic power in communities across the state,” Quinn added. “I thank Tim Sullivan, the EDA board, and the entire EDA staff for their hard work and commitment to the people of New Jersey.”
“It has been an honor working with Kevin to deliver on Gov. Murphy’s vision for a stronger, fairer New Jersey economy,” said Sullivan, chief executive officer, NJEDA. “While I will miss getting to benefit from Kevin’s wisdom and judgement every day, I am sure Kevin’s expertise will surely similarly enhance national economic development efforts.”
Sullivan added that he is thrilled about the appointment of O’Toole, the founder and managing member at Macanta Investments LLC as well as co-chair and trustee of the O’Toole Family Foundation. O’Toole also served as the New Jersey representative on the board of the National 9/11 Memorial and Museum from 2018 to 2022, and on the board of directors of the New Jersey Pandemic Relief Fund.
“I look forward to working with him and our extraordinary board to continue to advance Gov. Murphy’s bold economic agenda and ensure New Jersey remains the number one state to live, work, and raise a family,” said Sullivan.
O’Toole, in a press release announcing the appointment, thanked the governor for entrusting him with this responsibility, adding that he welcomes the opportunity to take on this new challenge.
“Kevin Quinn has been an exceptional chairman, leading the organization through an era of phenomenal transformation and growth, and I will build upon his admirable work,” said O’Toole. “I look forward to working with [Sullivan], the board, and staff as we continue to push forward Gov. Murphy’s vision for a fairer and stronger economy.”
“With Terry O’Toole as chair, I am confident the EDA will continue to make a deep impact on the lives of New Jersey residents,” said Quinn.
“I look forward to working with Terry O’Toole, who, alongside [Sullivan], will continue to prioritize the creation of strategies and resources that will help New Jersey’s entrepreneurs, small businesses, and hardworking families thrive,” said Murphy.