■ Business Forecast
■ Business Forecast
graduates . Forward-thinking firms will need to be creative to survive the sea-change . Some will be acquired by larger companies . Others will join forces in order to remain competitive . Still more will realize that Artificial Intelligence ( AI ), once a seeming threat , will be business as un-usual and harness the infinite capabilities of this new technology .
Smolin , Lupin & Co ., LLC Paul Fried , CPA Chief Executive Officer
In 2025 , unless Congress extends some or all of the provisions , the sunset of the Tax Cuts and Jobs Act ( TCJA ) is expected to lead to higher taxes for many , impacting disposable income . Combined with persistent inflation , this will strain household budgets and reduce consumer spending . Global instability further exacerbates economic uncertainty , disrupting supply chains and trade . Meanwhile , advances in AI continue to reshape industries , boosting efficiency but also raising concerns about job displacement . Together , these factors create a complex economic landscape , challenging policymakers , and businesses to navigate the new realities .
CONSTRUCTION & CONTRACTING
DPR Construction Amir Nekoumand Business Unit Leader
New Jersey ’ s commercial construction market will grow in healthcare , life sciences , and advanced technology in 2025 . Healthcare spending is expected to rise by 4 %, driven by demand for modernized facilities . Life sciences will expand lab spaces and manufacturing to attract biotech firms . Advanced technology investments will focus on innovation hubs and data centers . Leveraging prefabricated solutions and technology for design , collaboration , real-time tracking , and resource management will ensure timely delivery and optimized workforce use , meeting each sector ’ s complex , technical requirements . New Jersey remains strong , supported by both private investment and state initiatives aimed at fostering a dynamic environment for innovation and growth .
Mikula Contracting , Inc . Dennis Mikula , Jr . President
" Look for more regulatory involvement and public participation in addressing the emerging perand polyfluoroalkyl substances ( PFAS ) being discovered in our drinking water systems ," says Craig Durand of TTI Environmental , Inc .
In 2025 , the land improvement industry in New Jersey is expected to be greatly influenced by an increasing demand for environmentally sustainable practices . Contractors must adopt eco-friendly solutions as regulations regarding stormwater management , erosion control , and soil health become stricter . New technologies such as permeable paving , advanced drainage systems , and soil stabilization techniques are anticipated to gain popularity . Additionally , the push for greener infrastructure — driven by regulatory pressures and consumer demand — will encourage companies to prioritize sustainability in site development , grading , and excavation projects . This focus on sustainability will help ensure long-term environmental compliance and provide a competitive advantage in the market .
CONSULTING
Impact Consulting , LLC Lucy Sorrentini Founder & CEO
As we approach 2025 , CEOs will increasingly prioritize the training and development of leadership talent to navigate a rapidly changing business landscape . With digital transformation and evolving market dynamics , companies will require adaptable leaders who can inspire teams and drive innovation . Projections suggest that organizations investing in leadership development will enhance employee engagement and retention , gaining a significant competitive edge . By embracing mentorship , continuous learning , and inclusive strategies that promote diverse talent , CEOs are set to build a robust pipeline of future leaders capable of steering their companies toward sustainable success .
ENGINEERING & ENVIRONMENTAL SERVICES
Commercial Solar Panel Recycling . com Glenn Laga President and Co-Founder
We anticipate that the New Jersey Department of Environmental Protection ( NJDEP ) will grant the Certificate of Authority to Operate ( CAO ) Project for Commercial Solar Panel Recycling by the end of 2024 . This groundbreaking project , housed in a historic Phillipsburg manufacturing building , positions New Jersey as a pioneer in end-of-life ( EOL ) solar panel recycling . By creating jobs , reducing landfill waste , and promoting sustainability , this initiative aligns with the state ’ s broader environmental goals . Commercial Solar Panel Recycling is proud to be at the forefront of this innovative development , contributing to New Jersey ’ s leadership in the circular economy .
TTI Environmental , Inc . Craig Durand , LSRP , CHMM President
New Jersey will continue to be shaped by environmental challenges and opportunities . Look for more regulatory involvement and public participation in addressing the emerging per- and polyfluoroalkyl substances ( PFAS ) being discovered in our drinking water systems . Construction of PFAS treatment systems at public and private potable water suppliers will steadily increase . New Jersey ’ s landmark Environmental Justice Law will continue to
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