By Tom Bracken
President & CEO, New Jersey Chamber of Commerce
In a recent column, BINJE Editor Tom Bergeron wrote that with the FIFA World Cup behind us and the Fiscal Year 2027 state budget now signed into law, it’s time for New Jersey to shift its focus to what will ultimately determine our state’s long-term success: building a stronger, more competitive economy.
I couldn’t agree more.
We cannot afford to accept the status quo. The choices we make today will determine whether New Jersey becomes more competitive and prosperous – or continues to fall behind other states.
That reality was reinforced just days ago when Mars Wrigley announced it will close its U.S. headquarters in Newark, eliminating more than 300 positions. While the company’s manufacturing operations in Hackettstown will continue, the loss of another corporate headquarters is a reminder that New Jersey cannot take employers for granted.
Unfortunately, Mars is not an isolated case. Samsung Electronics America recently announced it is moving its U.S. headquarters from Englewood Cliffs to Texas. Earlier this year, Focus NJ’s Missed Opportunities report documented more than 7,200 jobs and approximately $675 million in annual payroll that either left New Jersey or were created elsewhere because of corporate decisions to expand outside our state.
Those examples help explain why CNBC’s 2026 America’s Top States for Business rankings should concern every New Jerseyan. New Jersey ranked 50th – last in the nation – in Business Friendliness. No state with our advantages should be at the bottom of that list. We also slipped to 31st overall, with New York, Pennsylvania and Connecticut all ranking ahead of us.
These are not statistics we should accept, nor are they trends we can afford to ignore.
The good news is that New Jersey has every advantage needed to compete. Our workforce is among the nation’s best educated. Our universities, research institutions and innovation economy are second to none. Our location remains one of the greatest strategic assets in America.
The question is whether our public policies are fully leveraging those strengths.
We compete every day with states that are aggressively recruiting employers, investment and talent. If New Jersey wants to lead, we must be equally committed to creating a business climate that encourages companies to invest, grow and remain here. That means fostering innovation, modernizing regulations where appropriate, addressing affordability and listening to the employers who make investment decisions every day.
I want to commend Gov. Mikie Sherrill and her administration for making business engagement a priority during their first six months in office. Their 21-county tour, meeting directly with business owners and community leaders to hear what is working – and, just as importantly, what is not – is exactly the kind of dialogue needed to develop smart, practical economic policy.
The New Jersey Chamber of Commerce stands ready to be a resource and partner in that effort. Our members represent businesses of every size and every industry, and they bring valuable real-world experience about what it takes to compete, create jobs and grow our economy.
Strong businesses and strong communities go hand in hand. When employers succeed, they create opportunities for workers, invest in neighborhoods and strengthen our state’s economic future.
With the budget complete and the World Cup in the rearview mirror, New Jersey has an opportunity to sharpen its focus. Let’s seize this moment to build a more competitive, more welcoming and more prosperous state – one that not only retains the companies already here but attracts the next generation of employers and investment.
Originally published by BINJE
