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Note: The views and opinions expressed here are those of the authors and do not necessarily reflect the position of the Morris County Chamber of Commerce.

Cultivating Talent is Key to A Strong Economy

10/15/2019

 
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Author: Meghan Hunscher, President & CEO, Morris County Chamber of Commerce & Economic Development Corporation, 
meghan@morrischamber.org

​New Jersey’s diverse economy, an ideal geographic location and extensive infrastructure, which should all make the Garden State attractive to businesses.  But when it comes to relieving corporate and personal tax burdens the state consistently ranks in the bottom of the fifty states year after year.  Fiscal headwinds impede New Jersey’s competitiveness and high wage job growth.

The Morris County Chamber of Commerce is addressing on a statewide level the challenges that businesses are encountering as a steering committee member of Opportunity New Jersey (ONJ), a non-partisan coalition, and a member of the Economic Development Advisory Council. The ONJ “Plan for an Affordable New Jersey” intends to set New Jersey on a path to increased competitiveness.  Since more than 80% of economic growth is a result of expansion of existing businesses, we need our state legislators to advance policies that support New Jersey businesses even as we seek to attract new companies to the state. 

Low unemployment makes cultivating talent and ensuring career pathways key to growth of our economy. This includes retaining young professionals and retraining seasoned workers.  The Chamber and EDC, which work closely with the Workforce Development Board, have made strengthening the workforce a priority. Initiatives include: the launch of a Talent and Human Resources Committee and mentor program, the development of an on-line jobs database featuring employers in the county that will also include internships, support of local job fairs, and administering a GAINS apprenticeship grant in conjunction with the German American Chamber and the County College of Morris.  

Morris County consistently ranks as a “top 10” county in the nation based on household income and quality of life. The county boasts the highest about of preserved land in the state while producing an impressive $53 billion gross regional product, which is greater than five states.  However, business surveys have revealed that talent is deterred from locating in New Jersey due to high housing costs. As the Chamber educates the business community on best practices related to talent attraction and retention, the EDC is preparing a relocation guide that will promote the county’s variety of employment and housing choices.

The ONJ’S “Plan for an Affordable New Jersey” puts forth grant and tax-credit investments in workforce training and job placement programs, business tax structure reforms, reinforces the need to drive capital investments into lower income communities the Opportunity Zone program and aligns with the broad tenants of Governor Murphy’s new vision for tax incentives.  The ONJ’s Economic Development and Advisory Council plans to meet with policymakers in Trenton to provide input on legislation that positions New Jersey for not only fiscal stability, but business and job growth.  New Jersey’s loss of talent will have long term negative effects if it is not addressed. The Morris County Chamber of Commerce is proud to be working toward a solution with the ONJ coalition. 

To learn more about the Plan for an Affordable New Jersey, and the formation of the New Jersey Economic Development and Advisory Council, please visit ONJ at www.opportunitynj.org and join their mailing list to stay updated on news and developments. 


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    Please Note: The views and opinions expressed here are those of the authors and do not necessarily reflect the position of the Morris County Chamber of Commerce.
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©2023 Morris County Chamber of Commerce  |  A 501(c)(6) nonprofit membership organization
  • JOIN
    • Become a Member
    • Premier Membership
    • Membership Inquiry
    • The Value of Membership >
      • Grow Your Business
      • Build Your Brand
      • Professional Development & Education
      • Government Advocacy
      • Community Outreach & Volunteering
    • New Member Survey
  • About
    • Chamber Team
    • Our Mission
    • Our President
    • Board of Directors
    • Morris Business Cabinet
    • Ambassadors Council
    • What Members Are Saying >
      • Share a Testimonial
    • Frequently Asked Questions
    • Forums & Committees >
      • Business Development Forum
      • Business Strategy Exchange
      • Health & Wellness Forum
      • Human Resources Committee
      • Not For Profit Roundtable >
        • Nonprofit Donations
        • Not For Profit Conference Scholarship App
      • Real Estate Forum
      • Tech Trends
      • Women in Business Program
      • Young Professionals Forum
      • Monthly Agenda Submission Form
    • Code of Conduct
  • Membership
    • Member Benefits
    • Member to Member Deals
    • Member Exchange Online Community
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    • Grand Opening Support
    • Conference Room Usage
    • Member Referral Bonus
    • Connect to Morris Job Bank
  • Events
    • Chamber Event Calendar
    • Member Events Calendar
    • COVID-19 Safety
    • Signature Events & Programs
    • Submit an Event Idea
  • Directory
    • Searchable Business Directory
    • Member Spotlights
    • Nonprofit Organizations >
      • Not for Profit Spotlight
    • Legal Resources >
      • Employment Law
      • Commercial Services
      • Business Representation
      • General Legal
    • Enhance Your Directory Listing
  • News & Info
    • Certificate of Origin
    • Business Resources
    • Chamber Magazines
    • News Around the Chamber >
      • Around the Chamber Archive
      • Submit a Press Release
      • Submit a Neighbors Helping Neighbors Story
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    • MCTV Let's Talk
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  • Programs
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