Tom Kean: New Jersey Must Fix Its Economic Development Problem

Senate Republican Leader Tom Kean, R-Union, Morris, Somerset and Essex counties, said this after reading the frustrated quotes of business people in a Star-Ledger report that detailed how badly New Jersey trails Pennsylvania in state efforts to create jobs and economic growth:

"My fellow Republicans and I have spent years fighting for reform of the state's dysfunctional programs for job creation and economic growth. I introduced Senate Bill 281, which would create an economic development program incorporating the best ideas from around the nation. Our calls for common-sense reform have fallen on deaf ears in Democrat-controlled Trenton.

"Our state's reputation with business leaders has gotten worse and worse because this administration and the two preceding it have looked at businesses as nothing but sources of revenue for government and targets of new regulation. More taxes. Dwindling support. Openly hostile or indifferent bureaucrats. That's what business people have come to expect from Trenton.

"The first question that taxpayers should ask is why Pennsylvania serves 50% more residents than New Jersey with a budget that is 20% lower," Kean said. "The business tax comparisons often favor Pennsylvania.

"Our governor just signed a $33 billion budget without a meaningful word about attracting industries that would grow our economy and help make our 8 million citizens more prosperous. Pennsylvania lawmakers passed a $28 billion budget that includes funding for a $2.8 billion economic development program that business people testify is already helping its 12 million residents.

"When businesses leave or don't locate in New Jersey, workers are forced to accept lower wages and benefits because they have fewer alternatives. Taxes go up because government must take its share from an ever-smaller economic pie.

"I'm tired of state government's disdain for business and its inept and bureaucratic economic development efforts. New Jersey simply can no longer afford to delay reform of its economic policies.

"I urge the Legislature to take up Senate Bill 281 at the earliest possible moment. It's a blueprint for the kind of economic development that we must have to ensure growing prosperity for every New Jerseyan. Democrats have refused to take action though this bill was introduced in 2005. The delay has been immeasurably costly for every New Jersey family. We need to act now."