Former New Jersey Senate President Steve Sweeney emphasized the importance of strengthening the state’s business climate to compete in a rapidly evolving tech landscape.
In a recent interview, Sweeney said the New Jersey Economic Development Authority (EDA) plays a vital role in attracting tech-driven companies, especially when competing with neighboring states like Pennsylvania. He credited current EDA leadership with creating effective programs, including film and innovation tax credits, that have lured major players like Netflix to the state.
Sweeney warned that without aggressive incentives, New Jersey could lose out to states with lower taxes and friendlier regulatory environments. He pointed to Pennsylvania Governor Josh Shapiro’s business-friendly policies as a direct threat to New Jersey’s competitiveness.
Sweeney also highlighted the need for infrastructure investments, especially in mass transit, which he called critical to supporting a modern economy. He proposed constitutionally dedicating corporate transit fees to avoid misuse and ensure long-term benefits. Above all, Sweeney urged a strategic approach to economic development, saying New Jersey’s educated workforce and prime location give it a natural edge—if policymakers leverage them wisely.
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