Gov. Phil Murphy signed Executive Order No. 369 on Oct. 29, creating a new Economic Council. Establishing the group aims to provide a regular forum for the business community and state government to discuss, collaborate and solve issues.

“The Economic Council will ensure that we continue to have a healthy collaboration between the business community and the state government,” said Murphy. “Deepening our administration’s strong relationship with various sectors across our state will stimulate growth within our economy. I look forward to the forum for ongoing dialogue, collaboration, and problem-solving to advance our shared economic goals.”

The deputy chief of staff for economic growth, Eric Brophy, as well as CEO of the New Jersey Economic Development Authority (NJEDA), Tim Sullivan, will co-chair the Economic Council. The leaders will designate industry representatives to participate in working group discussions.

Other members of the Economic Council will include (or their respective designees):

• The governor’s chief of staff, chief counsel and chief policy advisory;
• The state treasurer; and
• The executive director of the Business Action Center.

Problem solving

A new Development Coordination Committee will support the Economic Council’s work to advance development projects that require multiple state, county and local government approvals. The initiative will focus on finding solutions to issues important to the public and private sectors while stimulating economic growth and prosperity.

The Development Coordination Committee will consist of:

• The deputy chief of staff for economic growth;
• The state treasurer;
• The commissioners of the Departments of Community Affairs, Environmental Protection and Transportation; and
• The executive directors of the EDA, New Jersey Housing and Mortgage Finance Agency, Schools Development Authority and Infrastructure Bank, or their respective designees.

The committee will focus on ways to streamline the intergovernmental review of complex development projects. Additionally, it will work to improve communication among state, county and local government financing and permitting entities with respect to projects that require a coordinated review.

It will also report to the council on recommended policies, initiatives or reforms that could reduce barriers to development, construction project disruptions or delays.

“New Jersey’s economy has grown stronger under Gov. Murphy’s leadership, and the Economic Council will build upon the progress we’ve made over the past seven years,” said Sullivan. “I’m honored to co-chair the Economic Council and look forward to working with our government partners and key stakeholders to help meet the ambitious economic goals of the administration.”

A welcome addition

Brophy described the establishment of the Economic Council as a “giant step forward” in Murphy’s relationship with the business community.

“Over the past several years, at the governor’s urging, we have made doing business in New Jersey easier,” said Brophy. “We learned early on that working closely with the business community and legislators is the best way to grow New Jersey’s economy. The Economic Council will further cultivate our ambition to make business in New Jersey less complicated.”

New Jersey Chamber of Commerce President and CEO Tom Bracken said addressing the state’s future economy is vitally important to unleashing its economic potential. As is the need to generate additional organic, reliable revenue to fund the growing state budgets, he added.

“The New Jersey Chamber of Commerce has been advocating for the creation of an economic council for many years to accomplish that goal,” said Bracken. “Today’s announcement, hopefully, will put in place a mechanism to bring together government and the business community to address collective thoughts and strategies to create a more vibrant, competitive economic landscape. With the Economic Council and Development Coordination Committee structure in place, it will now be up to its organizers to ensure it will quickly and effectively deliver the results we desperately need.”

Bracken thanked the governor for creating this forum, which his organization hopes transcends administrations.

“And we look forward to working with the administration and being part of this opportunity,” Bracken said.

Reflecting on a decade:

NJBIZ recently caught up with Michele Siekerka, New Jersey Business & Industry Association president and CEO, to talk about her 10 years at the helm of the organization. Read more >>