Governor Christie Details Administration's Job Creation and Economic Growth Strategy To Atlantic County Small Business Owners

Press Release

Governor Chris Christie today addressed members of the Greater Atlantic City Chamber of Commerce in Egg Harbor Township, where he detailed the Administration's ongoing efforts to make New Jersey a home for job creation, economic growth, and business investment. While there, the Governor highlighted 21 projects in Atlantic County that have received over $402.6 million in assistance through the New Jersey Economic Development Authority (EDA). This financing has leveraged more than $1.6 billion in total investment and served as a catalyst for the creation of an estimated 5,660 new permanent jobs and 6,170 construction jobs. This support also helped ensure the retention of 680 existing jobs in Atlantic County.

"New Jersey was at a crossroads when I took office," said Governor Christie. "We had to take a different course to pull our economy back from the brink and start creating jobs. Twenty months later, we have reined in government spending, ended the days of constant tax increases on New Jerseyans, reduced red tape in a common sense way and expanded economic incentives to allow critical economic development projects to move forward."

In welcoming the Governor to the Greater Atlantic City Chamber of Commerce, President and CEO Joe Kelly said, "I am pleased to host the Governor in Atlantic County to talk about the biggest issue facing our members -- creating good jobs for New Jerseyans. The ongoing commitment from the entire Administration to spur economic development throughout our region and the entire state demonstrates how critical it is for all levels of government to work together and support businesses -- large and small. His presence here today also underscores his personal commitment to small businesses, which are the backbone of our economy."

Governor Christie continues to take action on an aggressive, pro-growth agenda to create Jersey Jobs and prioritize economic growth and has committed to support innovate initiatives to create opportunity for New Jersey families. Earlier this week, he announced a $190 million payroll tax cut that will directly benefit working New Jersey families in 2012, visited Newark to highlight Panasonic Corporation of North America's decision to remain and grow in New Jersey, and announced the State Strategic Job Growth Plan which will provide a flexible guide for New Jersey's economic development future. Through the Christie Administration's pro-growth policies, New Jersey has once again become a home for business. From Fortune 500 firms to small and medium-sized businesses, the companies listed below have committed to generating and retaining over 28,000 jobs, bringing more than $4.6 billion in total public-private investment to the Garden State, since January 2010.

During his discussion, the Governor outlined the concrete steps the Administration has taken to get New Jersey's economy moving again, including:

* Securing passage of critical tax policy changes in his Fiscal Year 2012 Budget that will provide $2.35 billion worth of targeted, job-creating tax cuts over the next five years, including $180 million this year alone, once again proving that the Administration is "doing the big things" when it comes to making New Jersey a home for job growth and increased business investment and expansion.
* Creating the Business Action Center, a single point of contact for the state's business community to access advocacy and other services, including an upgraded online business portal to access information.
* Establishing the Red Tape Review Commission to review administrative rules and regulations and soliciting public input on regulatory barriers to analyze their impact on job creation, economic growth and investment throughout the State.
* Phasing out of the Transitional Energy Facility Assessment (TEFA) by January 2012. TEFA will provide direct tax relief for New Jersey families and businesses in the form of energy cost savings. New Jersey has among the highest energy costs in the nation; by phasing out TEFA, Governor Christie is reducing the adverse economic effect of high energy costs on consumers by $920 million over the next 5 years.
* The Administration has continued to advance policies to further improve New Jersey's business climate by:
o Sunsetting the corporate business tax surcharge;
o Signing new, robust business attraction legislation;
o Protecting businesses from an average $400 per employee, or 52% increase in the unemployment insurance payroll tax.

The Christie Administration's ongoing efforts will increase New Jersey's competitiveness and climate for economic growth, spurring job creation and increasing business investment and expansion.

The Greater Atlantic City Chamber has been around since 1914, working to help businesses of all sizes grow and prosper by encouraging investment and job growth opportunities to improve the region and state's overall business climate, including the more than 6,000 small business employers that contribute to the regional economy.

Source