BAD ECONOMIC NEWS PILES ONTO SMALL BUSINESS IN NEW JERSEY

Date: April 12, 2016

BAD ECONOMIC NEWS PILES ONTO SMALL BUSINESS IN NEW JERSEY

TRENTON (April 12, 2016): In the past 24 hours, New Jersey’s
economic news has left the small business community wondering if the tide will
ever turn in the Garden State that seems to find a way to creep into a worse
place position without even trying. Today the National Federation of
Independent Business (NFIB) is calling on lawmakers making budget decisions to
wake up and smell the reality of doing business in a state that is downright
hostile to employers.

“Yesterday we were informed that New Jersey’s economic
outlook for 2016 fell to 48th place in the country. That tells our
small employers that there is essentially nothing to look forward to this year
if policies dictating economic conditions remain status quo and lawmakers fail
to step up to the plate,” said NFIB New Jersey state director, Laurie Ehlbeck. “Instead of accepting defeat and riding through the
remainder of 2016 at the bottom of the barrel, it’s not too late for those
making decisions in Trenton to focus on cutting spending and reducing regulation
and taxes. If they are brave enough to do so, our employment sector will begin
to move in a positive direction, and maybe someday, return to prerecession
levels.”

New Jersey is down from last year’s ranking of 46th
in the Rich States, Poor States: ALEC-Laffer State Economic Competitiveness
Index. The ranking is a forecast based on a state’s current standing in 15
state policy variables that lawmakers are
more than capable of directly influencing by casting pro-business votes during
the legislative process.

As if that wasn’t bad enough, NFIB’s Index of Small Business
Optimism revealed this morning that thanks
to business owners having no faith in the improvement of economic conditions anytime
soon, the index dropped to a two-year low in March.

“No one likes being pessimistic about the future, but our members are left without a choice. At the height of the budget season,
we are learning that optimism amongst small business owners is at a two-year
low and New Jersey’s economic outlook is at the bottom of the barrel yet lawmakers
are doing nothing to change the economic conditions that we are all facing,”
continued Ehlbeck. “We pay among the
highest property, personal and corporate taxes in the country. Where are the
proposals to reduce taxes so that the small business community can spend their
revenue on hiring more New Jerseyans instead of sending it to Trenton?”

 

Related Content: Small Business News | Economy | New Jersey

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