njbizpower1002023 Archives

Deborah Visconi

As president and CEO of Bergen New Bridge Medical Center in Paramus, Visconi oversees one of the nation’s largest public hospitals. A feat in and of itself, but even more staggering given that when she took up the helm five years ago, the future of the facility was in question.

Following years under the microscope due to reports about potential safety lapses, in the fall Bergen New Bridge received its second A grade for safety in two years in The Leapfrog Group’s seasonal assessment. But her work isn’t done. As the facility pivots to build on its upswing, Visconi continues to lead transformation at the medical center, elevating the quality of care and providing it equitably.

As a Latinx hospital CEO, she understands the needs of traditionally underserved communities and makes these groups a priority in ongoing outreach efforts. In 2022, the hospital received a perfect score on the Human Rights Campaign Foundation’s 2022 Healthcare Equality Index, an assessment of the equitable treatment and inclusion of LGBTQ+ patients, visitors and employees. To reach patients where they are, it’s also opened several satellite locations to deliver care.

The clinical affiliate of Rutgers has forged partnerships with other key players both across the state – such as the Rutgers New Jersey Medical School and the NJ Reentry Corp. – and beyond its borders, with the likes of Guardian Research Network and CareRev. The latter, an effort to look for potential answers to impending (and present) nursing shortages.

A nationally recognized leader, Visconi was named one of the Top 25 Women Leaders in Healthcare by Modern Healthcare for 2022. Her outreach efforts have led to the creation of the only LGBTQIA+ health center in northern New Jersey; multi-cultural long-term care services for Muslim, Korean and Asian Indian patients; and more. In 2022, Visconi was honored as one of 2022’s NJBIZ Best 50 Women in Business. She started 2023 off with an appointment to Felician University’s board of trustees.

Peter Cancro

Jersey Mike’s Subs is heading to America’s “Last Frontier.” The Manasquan-based sandwich chain – which has more than 2,500 restaurants in 49 states – expects to make its debut in Alaska this year, starting with locations in Anchorage and Wasilla.

Founded in 1956, Jersey Mike’s started out as Mike’s Subs, a small sandwich shop in Point Pleasant, and is now one of the fastest growing quick service restaurants in the country. Driving that growth is CEO and founder Peter Cancro, who began his business career in 1971, when he worked at Mike’s Subs. Shortly thereafter, at age 17, he decided to forego a potential college football career and purchased the sandwich shop.

In 1987, Cancro changed the name of the original Mike’s to Jersey Mike’s and spent the next couple of decades turning the brand into a nationwide empire. Over the past three years, Jersey Mike’s increased its number of units by 37.9%, earning the chain the No. 3 spot on Entrepreneur’s newly released ranking of 2023’s top 500 franchises. This year marks Jersey Mike’s fifth year on the list — and its highest ranking ever.

The chain was just named the Official Sub Sandwich of the National Hockey League as part of its first-ever partnership with a professional sports league. Jersey Mike’s also recently signed on to sponsor the Harlem Globetrotter’s 2023 tour across the United States. And its naming rights deal for Rutgers University’s arena is paying dividends as the men’s basketball team raises its national profile.

Philanthropy also remains a priority for Jersey Mike’s, with each of its stores partnering with local charitable organizations as a way to give back to the community. Since 2011, more than $67 million has been raised during the annual Jersey Mike’s Day of Giving campaign. The chain has also donated more than $11 million to Feeding America. Cancro is also leading, along with former New York Giants quarterback Eli Manning, a major fundraising campaign for Hackensack Meridian Health and made a significant personal donation to the network.

Dianna Houenou and Jeff Brown

Following the launch of New Jersey’s recreational cannabis marketplace in April 2022, eight out-of-state entities have dominated the industry, opening and operating all 21 dispensaries currently licensed to sell. Moving into 2023, the Cannabis Regulatory Commission, which regulates the industry and oversees licensing, said it wants to see more local, small business owners participate in a market that is expected to be valued at more than $2 billion a year by 2026.

Leading the charge to make New Jersey’s adult-use market more equitable and sustainable is Brown, who previously headed the state’s medical cannabis program, and Houenou, who spent years pushing for the end of cannabis prohibition while with the ACLU-NJ.

In New Jersey, entrepreneurs face several challenges in entering the market, including high start-up costs and access to capital. They’re also up against more established, multistate operators with years of experience and more resources at their disposal. Houenou has said the five-member board “has from the beginning understood that if we want New Jersey’s cannabis market to reflect the diversity of its residents, and if we want to ensure that it is inclusive of groups that bear the scars of prohibition, then designated access to capital would be essential for some applicants.” She has pointed to the CRC’s priority application process, as well as new initiatives like the no-cost Cannabis Training Academy being launched by the New Jersey Business Action Center this year as “paving that path for them to be included.”

The CRC also partnered with the New Jersey Economic Development Authority on a recently announced pilot program that will provide grants of up to $250,000 to those who seek to establish themselves in the marketplace. In 2023, the CRC is continuing efforts to collect feedback that will help determine how the state invests social equity excise fees raised from recreational cannabis sales.

Based on input the CRC has received so far, as well as SEEF revenue projections, the state plans to invest in grants and low-interest loans for aspiring entrepreneurs in impact zones and economically disadvantaged areas. Additionally, the five-member board is working on a framework that would allow medical dispensaries and recreational-use retailers to operate consumption lounges.

Kris Kolluri

After five years running the Camden Community Partnership as CEO in South Jersey, Kolluri was tapped last May to serve as chief executive officer of the Gateway Development Commission, a post he assumed officially in July. “There is no more urgent infrastructure project in the nation than the Hudson Tunnel,” the former commissioner of the New Jersey Department of Transportation said at the time — and that puts Kolluri at the forefront of a massive public investment.

At the end of January, President Joe Biden revealed a $292 million Mega Grant that will fund an early phase of Gateway’s Hudson Tunnel Project. That component of the work made a number of advances in the latter part of 2022, beginning with the GDC becoming the Project Sponsor, making it responsible for overseeing and completing the task on time – and within budget – in addition to applying for federal loans and ensuring all federal requirements and responsibilities are met.

In November, GDC took steps to secure a $6.5 billion federal grant and the group closed the year issuing a call for a potential Project Delivery Partner. Along with its request to the federal government to enter into the Engineering Phase of the Capital Investment Grants Program process, the GDC sent an updated financial plan for the project, fulfilling a promise Kolluri made when he came on board and signaling the kind of leadership he brings to the project.

The plan emphasized efforts to seek more federal funding to reduce project costs by up to $1.4 billion, to undertake a value engineering exercise to potentially reduce costs further, and to pursue opportunities to cut down the project’s overall schedule.

“When I became CEO in July, we committed to the U.S. Department of Transportation that we would have an updated financial plan and an agreement between all our partners to deliver the Gateway Hudson Tunnel by the fall, and that’s what we’ve done,” he said. “These actions advance the series of steps we’re taking to demonstrate GDC is serious about funding and building the tunnel project as soon as possible, because the region, the nation, and the riders shouldn’t have to wait any longer.”

Presenting the 2023 NJBIZ Power 100

Regular readers of this feature will immediately notice something different about the 2023 edition. And you deserve an explanation.

Gov. Phil Murphy appears nowhere in the top 10. In fact, he’s not on the list at all. The omission is not a comment on his governing ability. By most measures of public opinion, Murphy has done a good job. He guided the state through the pandemic and his actions helped the economy recover from an unprecedented public health emergency. He earned enough of the public’s trust to win reelection in 2021 and continues to act on his campaign promises.

So why isn’t he on the list? Well, ranking the governor at No. 1 is easy. And too predictable.

New Jersey’s governor may be the most powerful chief executive in the country. The entire state bureaucracy works for him. He appoints every county prosecutor and every state judge. In fact, the mandatory retirement age for Supreme Court justices gives nearly every governor the opportunity to shape the state’s highest court. And the conditional and line-item veto power allows the governor to alter budgets approved by the Legislature.

So, let’s stipulate that the governor is, indeed, the most powerful individual in the state. But his position is sui generis. Call him – or her – the No. 1 Emeritus.

In fact, the number of government officials on this list has been dwindling for some time – a conscious decision on the part of the NJBIZ editorial staff. There are two main reasons for that.

First, NJBIZ is a business publication, laser-focused on that community and what makes it work. The Power lists should reflect our coverage. Yes, we do cover government and politics, but only inasmuch as what happens in those realms affects New Jersey businesses.

Second, government officials – whether elected or appointed – derive their power from the offices they hold. The heads of government agencies are influential no matter how well they do their jobs. Again, this observation is not intended as a criticism of the governor or any cabinet member. But this list could fill up quickly with elected officials and appointees simply by virtue of their positions. Again, that’s too easy and too predictable.

Now, under certain circumstances it will be impossible to avoid putting government officials on the list. For example, the effort to reduce the presence of government on this list began before the pandemic. But during the COVID-19 outbreak, government agencies – and especially the governor’s office – essentially ran the state’s economy. It would have been ridiculous not to acknowledge the role played by Murphy, Health Commissioner Judith Persichilli and other high-ranking officials.

Have a recommendation?

If you’d like to recommend someone for inclusion on next year’s Power 100 or any of our industry-specific Power 50 lists this year, click here to fill out this short form.

And government is represented on this year’s list by officials whose actions are critical to the health of the state’s economy. The most prominent example is the leadership of the Cannabis Regulatory Commission. Dianna Houenou and Jeff Brown are responsible for the development of an entirely new industry. The growth of the recreational cannabis business and the fairness of the rules governing that business will depend in large measure on how well they do their jobs.

So take a look at the profiles on these pages and let us know what you think of the choices they represent. And let us know what you think of the decision to elevate the governor to a position outside the list. If you’d like to recommend someone for inclusion on next year’s Power 100 or any of our industry-specific Power 50 lists this year, you can do that on NJBIZ.com under the Power drop down menu.

As always, the top 10 honorees are listed in numerical order; the rest are arranged alphabetically.

Methodology

The power lists are compiled by the NJBIZ editorial staff based on our reporting throughout the past year with input from experts in a variety of fields and recommendations from our readers. The staff looks for people who have gained public attention – and perhaps acclaim – for their professional accomplishments and public service. Each list identifies individuals who, through their efforts, are helping to make New Jersey a better place to live, work and do business. Honorees are not necessarily better at their jobs than others in their profession, but they have contributed meaningfully to the advancement of the public interest through their work and/or community service.