Critics of Governor Corzine are quick to jump on the “Wizard of Wall St.” for being out of touch with the needs of the business community. They say that for all of his financial knowledge and wizardry, the Governor’s policies and the actions of the Democrats in the State House have lead to high taxes and unnecessary, burdensome regulations being placed on businesses throughout New Jersey. These burdensome taxes and regulations are pointed to by critics as the reason for job losses and business flight from the state.
Of course many of Governor Corzine’s critics forget that New Jersey didn’t get this way over night, Democrats have not always been in control of Trenton, the Republicans had their chances to screw up the State during the beginning part of the decade.
You wouldn’t know it from all of the negativity brought on by the recession but Governor Corzine has been very proactive in trying to promote business in the state. The Corzine Administration has positively changed the business climate in New Jersey by streamlining government, tackling property taxes, investing in our public infrastructure, revitalizing our urban centers and investing in new technology. And yes, it’s true whether you wish to believe it or not, New Jersey is poised to rebound from the global recession stronger than ever before because of Jon Corzine.
The New Jersey Economic Assistance & Recovery Plan which was devised back in October by the Governor was the first plan of its kind in the nation to launch a comprehensive economic recovery plan to address the effects of the recession on our state:
INVEST NJ, one of the cornerstones of the Governor’s plan has exceeded everyone’s expectations thus far. It provides $3,000 for each new full time job created and maintained in NJ to eligible businesses, it is expected to create 16,666 new private sector jobs in 2 years as well as provides for $70 million in grants to offset sales tax on capital investment for business operations.
The Main Street Business Assistance program provides $50 million in financing for small and mid-sized businesses.
The Corzine administration made significant, long-term legal, tax and accounting adjustments sought by the business community, which is estimated to result in more than $125 million in savings for NJ businesses.
Over the past 3 years Governor Corzine has supported urban investment and revitalization by enhancing the Urban Enterprise Zones, which supports 150,000 jobs and has garnered $24 billion in new private investment.
Jon Corzine has championed the construction of the Mass Transit Tunnel between NJ and Manhattan. The Mass Transit Tunnel will create 6,000 construction jobs each year over the life of the project, and generate 44,000 permanent jobs upon its completion. The Tunnel will add $10 billion in gross regional product and $4 billion in additional real personal income. And with help from President Obama’s American Recovery and Reinvestment Act other desperately needed infrastructure projects will be made possible which will lead to even more job creation over the next 2 years.
Finally, two areas in which the Governor doesn’t seem to get credit for is his efforts are at streamlining government and the environment
The Governor centralized the economic decision-making in the Governor’s Office of Economic Growth and consolidated the Economic Development Authority. He also strengthened New Jersey’s finances by reducing the size of government. Jon Corzine eliminated agencies and cut the workforce by 7,000 positions.
The Governor increased the efficiency at the Department of Environmental Protection by convening a permit task force and signed the landmark Permit Extension Act and he also signed legislation to expedite the remediation and redevelopment of more than 20,000 contaminated sites in New Jersey.
New Jersey is better off today because of the good work Jon Corzine has done over the past 3 years as our Governor, as the economy turns around lost jobs will return. And with the policies put in place by Jon Corzine, New Jersey will not only be more business friendly it will also lead the Nation in job creation.