NJ: Economic Life Support

New Jersey State Senator Joseph Kyrillos, senior Republican on the Senate Economic Growth Committee, said this after learning that New Jersey’s unemployment rate continues to rise and is now 8.4 percent, higher than the rates of surrounding states.
“New Jersey is in the ideal physical location to be the national economic leader among the states,” Senator Kyrillos said. “However, it’s not because of the public policies we have followed over the last eight years.
“Governor Corzine should immediately team up with enlightened legislators committed to creating an entrepreneurial economy that can help us grow out of the economic mess,” Senator Kyrillos said. “The goal should be to unleash our highly educated, world class work force to help New Jersey lead the way to recovery.
“A good first step would be to shelve the governor’s plan to delay payments of Business Employment Incentive Program grants that companies expect this year,” the senator said. “It’s a safe bet that some businesses were counting on those grants to prevent job and spending cuts. They need the money they were promised, especially during a recession. We can find this small amount of revenue to keep our promises to businesses that create jobs.
“Then we need to create world class economic development program that sends an unmistakable signal to the business community that we will help them grow and create an economy that is second to none in job creation. This initiative should include repeal of ‘affordable’ housing regulations that are blocking development all across the state, and an end to unaffordable regulations such as paid family leave and business taxation that raise costs far above those of other states. We must all also put in place an economic development program that helps businesses create jobs.”