In an effort to bolster economic growth and collaboration across the state of New Jersey, the Orthodox Jewish Chamber of Commerce, in partnership with Georgian Court University coordinated by Kenneth M. Karamichael AVP Business Development Professional Studies & Business Development, hosted at Georgian Courts Historic Mansion to help prelude New Jerseys upcoming Economic Development Day. This summit saw the convergence of business leaders from various sectors, all committed to discussing and sharing strategic goals and programs that can be promoted in all communities for the year's NJ upcoming Economic Development Day with participation of leaders of chambers of commerce, Government and businesses across New Jersey.
A special lavish lunch buffet was sponsored by four corners bagels.
The journey towards establishing a dedicated day for economic development began in 2018 when Senator Robert Singer introduced a resolution to designate the second Monday of May as New Jersey Economic Development Day which passed both houses and was signed on ti Law by Governor Phil Murphy. Fast forward to this year, and the date has been set for May 12th, promising a comprehensive platform for businesses to explore and tap into the myriad of services and resources available statewide.
Senator Singer highlighted that the initiative for a statewide economic development day gained momentum and was spearheaded by Duvi Honig, CEO of the Orthodox Jewish Chamber of Commerce. Honig spearheaded several innovative programs that underscored the importance of supporting New Jersey's business community. Reflecting on the initiative, Honig emphasized the opportunity this day presents: "NJ economic development day enables us to bring together proactive solutions and resources and put them under one roof. This approach ensures that our diverse communities are informed about training, networking, financial assistance, and help navigating state regulations."
Echoing the enthusiasm for New Jersey's potential, Tom Bracken, President and CEO of the New Jersey Chamber of Commerce, stressed the state's inherent strengths: "With all the assets New Jersey has, with the demographics we have, with the location we have and the workforce we have, we should definitely be a top 10 state destination for business around the country."
Economic Development Day serves as a pivotal platform for New Jersey, providing an avenue to engage with communities statewide and showcase the array of programs and resources available to bolster economic growth. As Bracken aptly puts it, the event is an opportunity to reach out across the state, ensuring that all sectors are informed and equipped to thrive.
Addressing the pressing issue of affordable housing, Stephen Rosenberg, founder of Greystone, a national real estate developer and lender, underscores its importance to sustaining economic momentum in the state. "I would love to have an impact on the state, and the best way we can do that is by providing a huge amount of affordable housing, which is something the state absolutely needs," Rosenberg asserts. He emphasizes that ensuring affordable housing is key to attracting and retaining the workforce needed by companies choosing to operate in New Jersey.
Tom Hughes, CEO and publisher of ROI-NJ, emphasizes the significance of this day in empowering various stakeholders. "The Economic Development Day represents a vital opportunity to empower all sectors of the state by gathering New Jersey’s mayors, chamber presidents, township and local leaders, ensuring representation at all levels of government," he notes. This gathering is crucial as it helps synchronize efforts across different levels of governance, fostering a unified approach to economic development.
Andy Kuhn, director of business development for Choose New Jersey, shares his enthusiastic perspective on the state’s business-friendly environment. Having moved to New Jersey, Kuhn quickly recognized the state's potential. "First of all, it is beautiful," he says. "And the state has a strong infrastructure and big shoulders. I learned very quickly that if you are a new business and want to grow, this is the place to do it. It’s a great place for early-stage companies to cut their teeth and learn. And we have a talented workforce." Indeed, the state's robust infrastructure and skilled workforce present a formidable competitive advantage for businesses looking to expand.
Furthermore, Choose New Jersey plays an indispensable role in promoting the state as a business hub. With offices around the world, Kuhn highlights that "24 hours a day, there are people telling the story of how great it is to do business in New Jersey." This continuous global outreach underscores the state’s commitment to securing its place as a premier destination for business.
Stephen Milgrom, Manager of the Office of Business Advocacy at the NJ Business Action Center, expressed his enthusiasm about discussing several programs with chamber leaders in preparation for the economic development day scheduled for May.
Rozanne Neilson, managing director of the Minority Business Development Agency, U.S. Department of Commerce, encourages small businesses to actively engage with larger companies. "If you are a small business in New Jersey and want to do business with large companies, you need to speak with us," she advises. This call to action is aimed at fostering connections that enable small enterprises to scale and flourish.
Jermaine Pharmes from the NJEDA Community Affairs emphasized the significance of the collaboration between the Orthodox Jewish Chamber of Commerce, the department, and the state. This partnership plays a crucial role in invigorating and unifying communities across New Jersey. By fostering economic growth and community cohesion, the alliance aims to stimulate local economies and enhance the well-being of residents throughout the state. Their collective efforts are a testament to the power of collaboration in driving positive change and development from within.
As the upcoming New Jersey Economic Development Day approaches, the focus of the summit was: to amplify business resources and foster an environment where companies, whether startups or long-established firms, can thrive and contribute to the state's vibrant economic landscape in May. The concerted efforts of leaders at the summit reinforce a shared commitment to positioning New Jersey as a powerhouse for business innovation and growth.
Those attending yesterday’s summit:
