PRESIDENT ’ S VIEW
PRESIDENT ’ S VIEW
Making NJ a Magnet for New Investments
By Anthony Russo President , CIANJ
New Jersey ranked almost last place ( 48th out of 50 states ) on WalletHub ’ s “ Best & Worst States to Start a Business in 2025 ” report .
The state ’ s low ranking stemmed from issues like business costs ( No . 50 ), office space affordability ( 45th ), corporate taxes ( 48th ), and state tax rates ( 46th ).
Bringing new businesses and investments into New Jersey is not only good for our citizens and economy but it is also good for government . When new investment and business comes to New Jersey , that means more private sector jobs , which in turn means more entities paying taxes – whether those are corporate taxes , income taxes or more sales tax when money is spent on goods and services in NJ . Growing the number of entities paying taxes ( our tax base ) will lessen the burden on those who pay taxes now .
However , it is important for all levels of government to constantly evaluate their costs and budgets and make cuts where possible . CIANJ is proud to be a leader in a free-market economy and when businesses are allowed to thrive and grow that helps everyone .
One bright spot for New Jersey in the WalletHub report was its highly educated workforce , ranking 3rd for its share of college-educated residents and 4th for human capital availability .
We have a very robust and effective higher education system and a willing workforce so we should do everything we can to attract startups and new investments . This can be accomplished when government is seen as a partner and not an obstacle when it comes to its relationship to the business community . Smart and effective regulations , an expedited permitting system , and an evaluation of our tax codes should be a priority .
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PUBLISHER / CEO ANTHONY RUSSO arusso @ cianj . org
EDITOR JAMIE GRILL-GOODMAN jgoodman @ cianj . org
CONTRIBUTING EDITORS JULIA PANGBURN LARRY FELD ADVERTISING SALES RICH WALTMAN ( 646 ) 808-5114 rwaltman @ cianj . org TOM WORLEY ( 917 ) -733-5135 tworley @ cianj . org
LAYOUT AND DESIGN MARJORIE CAMPOLONGO Art Director , mjcampolongo @ gmail . com
with co-host Mary Gamba