Governor Sherrill Launches "New Jersey Means Business" Plan to Grow Jobs and Strengthen Economy

TRENTON, N.J. — Governor Mikie Sherrill has signed Executive Order No. 28, launching the state's new "New Jersey Means Business" Economic Development Strategy, a statewide initiative designed to attract investment, support existing businesses, create jobs, and improve New Jersey's competitiveness through 2030.

The executive order establishes a coordinated approach among state agencies aimed at making New Jersey more business-friendly while expanding economic opportunities in communities throughout the state.

"New Jersey has the talent, innovation, and entrepreneurial spirit to build one of the strongest economies in the country," said Mikie Sherrill. "State government needs to match that ambition with a clear strategy and commitment to make our economy more competitive and dynamic."

The administration says the plan is intended to reduce red tape, improve permitting processes, support innovation, and help businesses expand while connecting residents with quality career opportunities.

 Key Areas of Focus

Making New Jersey Easier for Business

State leaders plan to reduce barriers to starting and growing a business by streamlining government services, preparing development sites, improving permitting processes, and strengthening efforts to retain businesses already operating in New Jersey.

Supporting High-Growth Industries

The administration will identify key industry sectors where New Jersey has competitive advantages and align economic development resources, workforce programs, financing, and incentives to help those industries grow.

The state will focus on increasing research and development activities, attracting additional research funding, and helping innovative ideas move from laboratories and universities into commercial businesses and job creation.The state will focus on increasing research and development activities, attracting additional research funding, and helping innovative ideas move from laboratories and universities into commercial businesses and job creation.

The plan includes efforts to improve access to state resources for small and midsize businesses while encouraging economic growth in communities facing long-term economic challenges.

The executive order establishes the New Jersey Means Business Economic Development Council, which will oversee implementation and coordinate activities among state agencies.

Several key initiatives are expected to be launched within the next few months, including:

• A statewide business retention and attraction strategy
• A site readiness plan for future development projects
• A streamlined business permitting and navigation system
• Recommendations for reducing business costs and regulatory complexity
• Enhanced support for small businesses
• A new statewide workforce and talent strategy
• An evaluation of existing economic development incentive programs

Many of the required recommendations must be completed within 90 to 150 days.

Business Groups Applaud the Initiative

The strategy received widespread support from business organizations, chambers of commerce, economic development leaders, and major employers across the state.

Organizations including the New Jersey Chamber of Commerce, NJBIA, Choose New Jersey, BioNJ, and numerous regional chambers praised the administration's effort to improve the state's economic competitiveness and strengthen relationships between government and the business community.

Business leaders highlighted the importance of reducing bureaucracy, improving permitting timelines, supporting innovation, and helping existing employers remain and expand in New Jersey.

For New Jersey residents, the initiative aims to encourage job creation, increase investment, improve workforce development opportunities, and strengthen local economies.

For businesses, the administration hopes the strategy will make it easier to navigate state government, access resources, obtain permits, and compete in an increasingly challenging regional and national economic environment.

The new economic roadmap represents one of the Sherrill administration's most significant economic policy initiatives since taking office and will serve as the state's primary economic development framework through the end of the decade.

Source: Office of Governor Mikie Sherrill, Executive Order No. 28 establishing the New Jersey Means Business Economic Development Strategy.

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