Arbitration and Economic Development

This morning's Star Ledger contained an editorial by Tom Hester praising the compromise arbitration proposal put forward by the Senate President and Speaker yesterday. The Senate President and Speaker are in the process of distributing this article to mayors and trying to get them to call the Governor in support. If you can assist in that effort, it would be greatly appreciated.

It is also worth noting that this proposal was endorsed by the Association of Counties yesterday, as well as by the incoming president of the Conference of Mayors. Mayor Chiarello, who is President of the League of Municipalities, also endorsed the proposal at the press conference yesterday (though the League itself has not yet officially taken a position).

In addition, for two months Sweeney and Oliver have regularly convened roundtable meetings of business leaders to hear ideas for jumpstarting the state’s economy, improving its business image and creating jobs. The plan, being announced today, would involve putting ideas garnered from that group into action.

The plan is being finalized but highlights will include:

· Legislation based on the successful Georgia Works program. The Georgia Works program allows unemployed job seekers who have registered for employment services to receive workplace training from a potential employer for up to 24 hours per week for up to six weeks. In Georgia, more than 11,000 employers have participated and about 63 percent of participants have found jobs.

· Corporate business tax reform legislation (A-1676/S-1646) prime sponsored by Assembly Budget Chairman Lou Greenwald (D-Camden) and Sweeney to modernize the formula used to determine the portion of business income subject to tax by the state from a three-factor formula to a single sales factor formula. The change has been a priority for New Jersey businesses.

· Small business tax reform legislation (S-1540/A-3535) sponsored by Senate Majority Barbara Buono (D-Middlesex), Greenwald and Assemblyman Peter J. Barnes III (D-Middlesex) to modernize the small business tax code to provide a meaningful tax break to entrepreneurs.

· Legislation (A-3389/S-2370) sponsored by Sen. Fred Madden (D-Gloucester/Camden), Assemblyman Albert Coutinho (D-Essex) and Oliver that would expand the state’s Business Relocation and Retention Assistance Grant program to allow more companies to benefit and keep jobs in-state.

· Legislation (A-3352/S-1602) sponsored by Coutinho and Sen. Jeff Van Drew (D-Atlantic/Cape May/Cumberland) that would create the New Jersey Closing Fund to stimulate economic activity by encouraging and promoting the retention and expansion of existing business and industry and creating and attracting new business and industry to the state.


If you have not had an opportunity to read the editorial please click on the link below:



http://blog.nj.com/njv_editorial_page/2010/11/new_jersey_democrats_offer_com.html