As head of the state’s Economic Development Authority, Sullivan is one of biggest cheerleaders for Gov. Phil Murphy’s proposed “State of Innovation” – an effort to attract businesses small and large to New Jersey.
The industries the administration sees as having the most potential for high growth include advanced manufacturing, logistics, food and beverage, and clean energy.
Murphy’s goals for the state to have an offshore wind capacity of 7,500 megawatts by 2035 will require a massive influx of capacity to handle the construction of the wind turbines, the infrastructure to transmit the electricity all across the state and the ongoing maintenance of the systems.
The EDA has been in charge of attracting the businesses that would handle various aspects of that process. The agency handles myriad incentive programs aimed to attract manufacturing – with small business loans or programs that help financial backers recoup some of their losses from investments into start-ups.
And as the debate drags on about New Jersey’s next flagship incentive programs, the often-sparring factions all agree the manufacturing is an industry that the state’s economic development strategies need to emphasize.
Whatever incentives the state Legislature produces to boost and attract manufacturing and technology businesses, the EDA will play a vital role in implementing the programs and actually drawing companies to the Garden State.
More from the 2019 NJBIZ Manufacturing Power 50:
- No. 1: John Kennedy
- No. 2: Suuchi Ramesh
- No. 3: Bob Unanue and Peter Unanue
- No. 4: Mark Clouse
- No. 5: Alex Gorsky
- No. 7: Robert Asaro-Angelo
- No. 8: Stephen Sweeney
- No. 9: Donna Schaffner
- No. 10: Michele Siekerka
- Manufacturing Power 50 A-M
- Manufacturing Power 50 N-Z
- The 2019 NJBIZ Manufacturing Power 50 slideshow