Sherrill signs executive order to make New Jersey more business-friendly

Gov. Mikie Sherrill signed an executive order today establishing a new statewide economic development strategy to make New Jersey more business-friendly, cut regulatory barriers, attract investment, and create jobs.

Executive Order No. 28 establishes the New Jersey Means Business Economic Development Strategy, a coordinated effort across state agencies to improve economic competitiveness, encourage innovation, and expand opportunities for businesses and workers through 2030.

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

The plan calls for reducing the costs and complexity of doing business, identifying industries with strong growth potential, accelerating research and innovation, and expanding economic opportunities in underserved communities.

State agencies will have 90 days to develop strategies to retain and attract businesses, identify development sites, and recommend ways to reduce costs. A coordinated business and permitting navigation service must be established within 150 days.

The initiative drew support from Democratic legislative leaders.

“Our businesses face enough challenges to get off the ground and grow in today’s economy. Government should never be another barrier to their success, but a resource that identifies new opportunities and helps businesses succeed,” said Senate President Nick Scutari (D-Linden).

Assembly Speaker Craig Coughlin (D-Woodbridge) said the state needs to capitalize on its economic advantages.

“But we can’t rely on those advantages alone. We need to be intentional about making New Jersey a place where businesses can thrive, whether they’re just getting started or have been here for generations,” Coughlin said.

Senate Budget Committee Chairman Paul Sarlo (D-Wood-Ridge) emphasized the importance of reducing regulatory obstacles.

“Strengthening the partnership between businesses and policymakers, targeting specific industries, and cutting red tape will help create a more competitive, business-friendly environment that benefits us all,” Sarlo said.

Assemblywoman Eliana Pintor Marin (D-Newark) said the initiative builds on earlier economic development legislation.

“We know that progress depends on strong partnerships between government and the private sector. This new strategy builds on that work while recognizing that different industries face different challenges,” Pintor Marin said.

State Sen. Andrew Zwicker (D-South Brunswick) said the state must capitalize on technological advances.

“Amid rapid technological innovation and change, it will be critical for us in the coming years to strengthen our economic competitiveness by translating research, innovation, and entrepreneurship into new companies and lasting jobs,” Zwicker said.

The executive order also creates a New Jersey Means Business Economic Development Council to coordinate implementation across state agencies and measure progress on employment, wages, business formation and private investment.