Governor Sherrill Launches “New Jersey Means Business” Economic Development Strategy to Boost the State’s Business Competitiveness, Grow the Economy, and Create Quality Jobs

Executive Order No. 28 Resets How New Jersey Works with Business, with a New Focus on Economic Growth, Innovation, and Opportunity in Every Community

TRENTON – Governor Mikie Sherrill today signed Executive Order No. 28, establishing the New Jersey Means Business Economic Development Strategy, a coordinated, whole-of-government effort to strengthen New Jersey’s economic competitiveness and business friendliness, attract investment, support existing employers, and create quality jobs and career pathways for every community across the state.

The Executive Order sets an economic development agenda through 2030, with clear agency responsibilities and deadlines to make it easier to start and grow a business, strengthen industries where New Jersey can lead, enhance research and innovation that results in new companies and jobs, and expand economic opportunity in communities statewide.

“New Jersey has the talent, innovation, and entrepreneurial spirit to build one of the strongest economies in the country. State government needs to match that ambition with a clear strategy and commitment to make our economy more competitive and dynamic,” said Governor Sherrill. “New Jersey Means Business will bring our agencies together to cut unnecessary costs and delays, help businesses grow, and connect our residents with good-paying jobs. This whole-of-government effort will help us build on our strengths as we compete for new investment and ensure economic growth translates to real opportunities for families across our state.”

The strategy recognizes that a stronger economy is essential to lowering costs, increasing household incomes, and sustaining the public services New Jersey families rely on. It builds on the state’s highly educated and diverse workforce, research universities and healthcare institutions, transportation and port infrastructure, and longstanding strengths in innovation and industry.

The Executive Order organizes the State’s work around four pillars:

• Improve New Jersey’s business climate to make it easier to attract and grow businesses by reducing barriers to and costs of doing business, improving how businesses navigate State services and permitting, preparing sites for development, and strengthening the State’s focus on retaining and growing existing businesses in New Jersey.
• Grow the key industries that can drive New Jersey’s next generation of quality jobs by identifying sectors where the State has established strengths or a strong opportunity to compete, working with businesses to understand their needs, and aligning State tools, incentives, and workforce efforts to support their growth.
• Increase research, development, and speed of bringing ideas to market in New Jersey to boost business growth and investment by coordinating research institutions, companies, entrepreneurs, and State resources like the New Jersey Supercomputer Initiative; focusing on areas where New Jersey can lead and innovate; attracting more research dollars to the state; and strengthening the path from discovery to market and growth.
• Ensure businesses, residents, and communities across New Jersey can participate in and benefit from economic growth by making State services, capital, and procurement opportunities easier to navigate for businesses of all sizes; creating a new advisory group focused on small and midsized businesses; and focusing coordinated state action in communities facing persistent economic challenges.

To oversee implementation, the Executive Order establishes the New Jersey Means Business Economic Development Council, reporting to the Governor’s Chief Operating Officer and chaired by the Senior Director of Strategic Initiatives and Economic Opportunity. The Council will bring together the New Jersey Economic Development Authority, the New Jersey Innovation Authority, and the departments of State, Labor and Workforce Development, Community Affairs, and the Treasury.

“After months of conversations with business leaders and entrepreneurs, the signing of today’s Executive Order represents a bold step forward for New Jersey’s economic future,” said NJEDA CEO Evan Weiss. “I look forward to working with Governor Sherrill, the Legislature, and industry leaders on advancing an economic growth agenda that bolsters our economic competitiveness, expands opportunities for business owners in every corner of the state, and strengthens the Garden State’s nation-leading innovation ecosystem.” 

 “The Governor is making it clear today that the State government will listen to New Jersey businesses and work closely with them,” said New Jersey State Chief Innovation Officer Dave Cole. “Through expanding resources like Business.NJ.gov and improving the customer experience in permitting and licensing, we’re working to make doing business in NJ as simple, streamlined, and intuitive as possible.”

“Today’s Executive Order reflects the Governor’s commitment to strengthening New Jersey’s business climate and promoting economic growth. This is a perfect example of responsive government taking action and implementing the change that companies, large and small, have been requesting for some time,” said Lieutenant Governor and Secretary of State Shirley U. Emehelu. “The hallmarks of this administration are creating opportunity and being accountable. Today, this executive order accomplishes both goals by hearing the concerns of our job creators and creating the pathway for them to succeed in our state.”

“New Jersey’s economy works when both workers and employers do well,” said Acting Labor Commissioner Kevin D. Jarvis. “NJDOL will align our training, apprenticeship, and employer services with where the economy is headed, while keeping standards strong to uplift all Garden State workers. We thank Governor Sherrill for her leadership in setting this course.”

“Governor Sherrill heard directly from New Jersey residents and businesses across all 21 counties, and this strategy answers what they told her. Economic growth depends on strong communities,” said DCA Commissioner Jacquelyn A. Suárez. “That means lifecycle housing that serves residents at every stage of life, and towns equipped to welcome new investment to strengthen their tax base. DCA is ready to do its part to make New Jersey easier to build in, easier to grow in, and a place where every community shares in our success.”

“Governor Sherrill’s economic plan is a turning point for New Jersey,” said State Treasurer Aaron Binder. “By cutting red tape, driving innovation, and providing targeted industry investments, this administration is creating a highly competitive, business-friendly environment that gives every community across our state the tools to thrive.”

The Executive Order directs State agencies to advance a series of concrete actions, including:

• Dedicated Business Retention and Attraction Strategy: Within 90 days, the State will create dedicated strategies to strengthen relationships with existing employers, support retention and expansion opportunities, sharpen business attraction efforts, and establish consistent messaging about New Jersey’s advantages as a place to invest and grow.
• Site Readiness Initiative: Within 90 days, the State will develop a statewide site readiness plan to identify and prepare priority sites for development and redevelopment, with the goal of reducing barriers to and encouraging new investment in the state.
• Business and Permitting Navigation: Within 150 days, the State will create a coordinated, cross-agency business and permitting navigation service for qualifying projects to make the process of growing, expanding, or investing in a business or development project in the State easier to navigate, by bringing together efforts related to state and municipal permitting, regulatory review, workforce development, and other key areas relevant to business growth and investment. Additionally, within 90 days, the State will convene the Governor’s Office Permitting Governing Council and other partner agencies to ensure the Governor’s permitting reform effort outlined in Executive Order No. 5 is aligned with the New Jersey Means Business Economic Development Strategy.
• Reduction in the Cost of Doing Business: Within 90 days, the State will develop and provide initial recommendations to reduce the cost and complexity of starting, operating, and growing a business in New Jersey. The review will examine administrative processes, duplicative requirements, taxes and fees, licensing, and additional costs across different levels of government.
• Priority Sector Strategy: Within 120 days, the State will recommend a limited number of sectors for intensive, coordinated State support, along with additional sectors for targeted assistance. Following approval, sector leaders will assess employer needs, identify barriers to growth, and recommend improvements to incentives, financing, workforce programs, and other tools.
• Evaluation of Incentives: Within 120 days, the State will recommend changes to economic development incentives and funding programs to improve cost-effectiveness, strengthen fiscal discipline, and accelerate investment.
• State Research, Development, and Speed to Market Strategy: Within 120 days, the State will develop a Statewide R&D and innovation strategy. The strategy will identify areas where New Jersey can lead, assess gaps in the path from research to market, suggest ways to attract more research funding to New Jersey, and recommend how State programs and institutions — including the New Jersey Supercomputer Initiative and Strategic Innovation Centers — can help translate scientific advances into new businesses, private investment, and quality jobs.
• Small Business Access to State Services: Within 120 days, the State will develop a strategy to improve access to services through Business.NJ.gov, the New Jersey Business Action Center, and other trusted channels. The effort will inventory and evaluate the effectiveness of existing programs, identify improvements to how businesses navigate services, and enhance coordination across agencies. Additionally, within 90 days, the State will convene the Department of Treasury, the New Jersey Innovation Authority, the Department of State, the NJEDA, and other partner agencies to ensure alignment with procurement reforms to expand access to State contracting opportunities.
• Advisory Group Focused on Small and Midsized Businesses: Within 120 days, the State will establish an advisory group to bring together leaders from the business community who are focused on small and midsized businesses and who represent a cross-section of the state’s economy – including historically underrepresented businesses – to provide direct, actionable insight on how to strengthen the state’s business climate, stimulate economic growth, enhance business retention, and expand access to capital for these businesses across the state.
• Inclusive Opportunity for All Communities and Workers: Within 120 days, the State will develop a strategy for coordinated economic development in communities facing persistent economic challenges. The Order also calls for alignment of revitalization efforts in Trenton and Atlantic City. Additionally, within 90 days, the State will convene relevant partner agencies to begin development of an updated Statewide Workforce and Talent Strategy for recommendation to the Governor.

Across these efforts, State agencies will establish implementation milestones and performance measures to evaluate outcomes such as employment, wages, business formation, and private investment. The strategy will also align with the Administration’s permitting and procurement reforms to improve coordination and accountability across State government. The strategy will include significant engagement with employers, business partners, and other stakeholders as agencies develop plans and execute the Executive Order.

“Tris Pharma started in New Jersey more than twenty-five years ago, and the talent, research strength, and partnerships we found here are why we have grown here ever since,” said Ketan Mehta, Founder and CEO of Tris Pharma. “This strategy recognizes that supporting companies like ours to keep investing and expanding is just as important as attracting new ones, and we are proud to stand behind it.”

“Choose New Jersey is ready to work alongside Governor Sherrill’s Administration, in step with the New Jersey Means Business Executive Order. This economic plan is exactly what the state needs to create a more transparent, efficient, and competitive business ecosystem,” said Amy Herbold, President and CEO, Choose New Jersey. “Through our close relationships with New Jersey’s business leaders, we understand what companies need to invest, create jobs, and grow in the state. We look forward to continuing to turn those insights into meaningful progress for New Jersey.”

“There is nothing small about small business! Small business is the engine of wealth in New Jersey and across America,” said Ayo Sanderson Wilson, President and CEO, Empower The Village. “We know that small business owners have BIG dreams. And when those dreams become thriving enterprises, they create jobs, build wealth, strengthen families, and transform communities. That’s why I’m excited by Governor Sherrill’s Executive Order and its commitment to measurable action.”

A copy of Executive Order No. 28 is available here.

What They’re Saying:

“Our businesses face enough challenges to get off the ground and grow in today’s economy. Government should never be another barrier to their success, but a resource that identifies new opportunities and helps businesses succeed,” said Senate President Nick Scutari. “Reorienting the relationship between our business community and the state to be one of partnership rather than bureaucracy will help us attract new companies, better support those that are pillars of their industries, and keep our economy competitive.”  

“New Jersey has so much to offer businesses, from our talented workforce, strong infrastructure, and our location at the center of one of the nation’s largest economic markets,” said Assembly Speaker Craig J. Coughlin. “But we can’t rely on those advantages alone. We need to be intentional about making New Jersey a place where businesses can thrive, whether they’re just getting started or have been here for generations.  As Speaker, I’ve advanced legislation that has supported businesses across the state and will continue to work with Governor Sherrill to ensure our economy thrives. Governor Sherrill’s executive order recognizes that economic growth doesn’t happen by accident. It takes a clear strategy, strong partnerships, and a willingness to listen to the people who are creating jobs and investing in our communities. That’s the kind of approach that will keep New Jersey moving forward.”

“When I sat down with business owners in Trenton alongside Governor Sherrill, they didn’t ask for another program. They asked for a partner,” said Senate Majority Leader M. Teresa Ruiz. “New Jersey has powerful economic development tools, but for too long we’ve used them the same way and expected different results. This Executive Order changes that. It puts competitiveness and business friendliness at the center of state government, sets clear directives and timelines, and recognizes that a family-owned shop on State Street and an emerging tech firm need very different things from us. That’s how we revitalize our downtowns for generations and make sure every New Jerseyan with ambition and a good idea has a real chance at success.”

“New Jersey is a state defined by innovation, world-class talent, and entrepreneurial spirit. Our economic strategy should reflect that,” said Senator Paul Sarlo, Chair of the Senate Budget and Appropriations Committee. “Strengthening the partnership between businesses and policymakers, targeting specific industries, and cutting red tape will help create a more competitive, business-friendly environment that benefits us all.”

“A strong economic development strategy is not just about attracting investment. It’s about ensuring that opportunity and support are within reach for every entrepreneur, small business, and industry looking to grow,” said Senator Nilsa Cruz-Perez, Chair of the Senate Economic Growth Committee. “When more businesses are able to see the state as a partner in their success, we can create a foundation for investment and long-term prosperity in every corner of New Jersey.”

“New Jersey is at a turning point in how the state engages with our business community,” said Senator Andrew Zwicker. “Amid rapid technological innovation and change, it will be critical for us in the coming years to strengthen our economic competitiveness by translating research, innovation, and entrepreneurship into new companies and lasting jobs. Through closer coordination between the state and the private sector, we can support businesses at every stage of their growth and build the economy of the future.” 

“When we passed the New Jersey Economic Recovery Act, our goal was to give businesses the tools they need to grow, create jobs, and bring new opportunities to our neighborhoods,” said Assemblywoman Eliana Pintor Marin. “We know that progress depends on strong partnerships between government and the private sector. This new strategy builds on that work while recognizing that different industries face different challenges. I look forward to working with the Governor and our partners to strengthen New Jersey’s business climate and keep our state competitive.”

“To unlock New Jersey’s vast economic potential, we need strategies that actively support our business community,” said Assemblyman Chris Tully. “As Chair of the Assembly Science, Innovation and Technology Committee, my goal is to position our state as a premier hub for the entrepreneurs and industries driving tomorrow’s innovation. This Executive Order directly supports that vision by mapping out an economic plan to eliminate growth barriers, attract capital, and implement targeted solutions that make New Jersey a highly competitive place to do business.”

“As Chairman of the Assembly Commerce & Economic Development Committee, I commend Governor Sherrill for signing this executive order and for her ongoing commitment to making New Jersey a better place for business,” said Assemblyman William Spearman. “Our state’s highly educated workforce and prime geographical location give us a competitive edge in commerce. However, a more proactive and comprehensive economic strategy will help us fully reach our potential. This executive order is a great, necessary first step in improving how we work with businesses.”

“The New Jersey Chamber of Commerce commends Governor Sherrill and her administration for developing a comprehensive, four-part economic strategy focused on improving our business climate, strengthening our competitiveness, creating quality jobs and expanding economic opportunity. The results of the recent election made one thing clear: New Jersey residents are focused on the economy and affordability. Meeting those concerns requires a strong, growing economy that provides residents with good-paying jobs and creates an environment where businesses want to stay, invest, expand and create new opportunities,” said Tom Bracken, President, New Jersey Chamber of Commerce. “We are encouraged by the administration’s commitment to making New Jersey more business-friendly and competitive. We join the broader business community in looking forward to partnering with the administration to turn this strategy into meaningful action and measurable results. New Jersey’s economic future depends on the success of this effort and our collective ability to ensure that economic growth and opportunity reach residents and businesses in every corner of our state.”

“The Statewide Hispanic Chamber of Commerce of New Jersey enthusiastically supports this executive order and its focus on economic competitiveness and business friendliness to start, grow and create jobs. We champion entrepreneurs whose success strengthens communities across our state, and we welcome the Governor’s advisory group as an opportunity to give them a direct voice in shaping New Jersey’s economic future. Expanding access to capital, simplifying state services and addressing barriers to growth align with the work we do every day. We look forward to working with the administration to turn this commitment into meaningful opportunities for small businesses, including Latino-owned enterprises, across all 21 counties,” said John Lucas, President, Statewide Hispanic Chamber of Commerce.

“The American Mexican Regional Chamber of Commerce welcomes Governor Mikie Sherrill’s commitment to strengthening New Jersey’s economic future. With more than $10.5 billion in annual trade between New Jersey and Mexico in 2025, and Mexico ranking as the state’s second-largest export market, our economic relationship represents tremendous opportunities for investment, job creation, and business growth,” said Francisco J. del Toro, President & Founder, American Mexican Regional Chamber of Commerce (AMRCC). “Mexican entrepreneurs are not only contributing to New Jersey’s economy but also building bridges between two important trading partners. As the American Mexican Regional Chamber of Commerce, we stand ready to work with the Governor’s administration to strengthen bilateral trade, empower small businesses, and ensure that Mexican entrepreneurs play an active role in New Jersey’s economic future.”

“On behalf of the New Jersey State Women’s Chamber of Commerce, we welcome Governor Mikie Sherrill’s commitment to a comprehensive economic strategy that supports business growth, creates quality jobs, and expands opportunity across New Jersey. Through her 21-County Tour and engagement with stakeholders, Governor Sherrill has heard directly from the businesses and communities that drive our economy. This Executive Order turns that engagement into action, establishing clear responsibilities and timelines to improve the business climate, invest in key sectors, advance research and commercialization, and ensure communities across our state participate in and benefit from economic growth,” said Robin Tabakin, President, New Jersey State Women’s Chamber of Commerce. “For the small businesses we represent, success means fewer barriers, greater access to opportunity, and a meaningful role in shaping New Jersey’s economic future. The NJSWC looks forward to working with the Sherrill Administration to turn this strategy into measurable results for our businesses, workers, and families.” 

“The Unity Chamber of Commerce is excited to hear Governor Sherrill’s initiative to support all businesses in New Jersey. This is a move in the right direction for New Jersey,” said Gus Penaranda, CEO, New Jersey Unity Chamber of Commerce.

“New Jersey has so much to offer businesses, but we need to do a better job of competing for jobs and investment,” said Christina M. Renna, President & CEO, Chamber of Commerce Southern New Jersey. “Governor Sherrill’s economic development strategy puts a much-needed focus on making New Jersey a better place to do business, whether you’re a small business looking to grow or a major employer considering an expansion. For South Jersey, where we compete with neighboring states every day, this is exactly the kind of approach we’ve been asking for.”

“NJBIA is excited to see Governor Sherrill take on the ‘New Jersey Means Business’ strategy, aimed at improving our economic competitiveness and increasing our business friendliness. For far too long our policymakers lacked focus on a meaningful pathway to economic growth for our great state. We already have a solid foundation for a vibrant economy, including a strong workforce, robust manufacturing, innovation, and an infrastructure and logistics corridor that should earn us the right to grow jobs,” said Michele Siekerka, NJBIA President & CEO. “Continuing to work on a true reform and growth agenda, along with an accountability framework and strong public-private partnerships and workflows, can move our economic needle forward. We thank the Sherrill administration for not only allowing business to have a seat at the table, but a consistent voice in the conversations to improve our economy and business climate.”

“Governor Sherrill’s commitment to developing a comprehensive economic strategy builds upon her administration’s extensive engagement with New Jersey’s business community and represents an important step toward translating those conversations into meaningful action,” said Jeff Kolakowski, NJ Builders Association CEO. “Residential construction and home improvement illustrate the tremendous potential of that approach, with a multiplier effect that supports a diverse network of small businesses, manufacturers, suppliers, professional services, and associated occupations throughout our economy. Unlocking that potential will not only create jobs and stimulate economic growth, but also help address our housing supply shortage, modernize and improve existing homes, and make a meaningful difference in the lives of New Jersey families.”

“Right from the beginning of Mikie Sherrill’s campaign to be Governor, she stated that economic development and the retention of businesses in NJ would be a top priority. This Executive Order, and economic development strategy, follows months of listening sessions with businesses of all sizes and is proof that the Governor and her top advisors are serious about implementing a plan,” said Jim Kirkos, Chief Executive Officer, Meadowlands Chamber & Meadowlands. “I commend the Governor and her team and stand ready as a business leader to play a role in helping deliver great outcomes for New Jersey and our business members.”

“The Chemistry Council of New Jersey strongly supports Governor Sherrill’s comprehensive economic strategy and her commitment to making New Jersey a more competitive and attractive place to retain, grow and invest in businesses,” said Dennis Hart, Executive Director, Chemistry Council of New Jersey. “From the outset, the administration has demonstrated a willingness to listen, collaborate and address longstanding challenges, including permitting delays and regulatory inefficiencies. This executive order builds on that progress by establishing a clear path toward economic growth, innovation and job creation. Representing New Jersey’s largest manufacturing sector, CCNJ looks forward to working with the Governor and her administration to turn this strategy into meaningful, lasting results for businesses, workers and communities across our state.”

“Governor Sherrill’s New Jersey Means Business strategy focuses on many of the things we hear from employers every day: making it easier to invest and grow, providing greater certainty and making sure New Jersey is competing for the jobs and investment of the future,” said Ralph LaRossa, Chair of Choose New Jersey’s Board of Directors and Chair, President and Chief Executive Officer of PSEG. “Choose New Jersey’s board brings together leaders from many of the state’s largest employers, and we know what businesses need to succeed here. We’re ready to work alongside the Governor, NJEDA and our public- and private-sector partners to turn this strategy into action and help make New Jersey an even better place to start, grow and invest in a business.”

“Collaboration between the government and business community fuels New Jersey’s long-term competitiveness. The CEO Council appreciates the ongoing dialogue with the Governor’s office on how best to shape the state’s economic environment to drive business growth, incentivize innovation, and support workforce development. We look forward to continuing to work together to make New Jersey a leading destination for businesses,” said Joaquin Duato, Chairman and Chief Executive Officer, Johnson & Johnson.

“Barely 5 minutes into office, Governor Sherrill and her team swiftly reached out to representatives from the business community for input on how her administration could catalyze greater innovation and economic activity to the benefit of all New Jerseyans. The Governor has once again wasted no time recognizing what needs to be done to make New Jersey a state where we can and want to live, work and play,” said Debbie Hart, President & CEO, BioNJ. “The fact that this economic plan is being adopted in the early days of the Administration demonstrates this Governor’s willingness to listen and respond in a meaningful way. We are most encouraged by the fact that it intended to be a fundamental reset in how New Jersey works with business, with a focus on economic competitiveness and business friendliness and we stand ready to work with our Governor to help make she and the plan a success.”

“Governor Sherrill is right that great economies and innovation ecosystems don’t happen by accident. They’re built on purpose. At Conscious Venture Partners, we’ve seen what’s possible when the state invests alongside founders and private sector partners. Through our partnership with NJEDA, we’ve built an accelerator in Trenton and backed New Jersey companies that are creating good jobs in communities too often left out of growth,” said Jeff Cherry, Founder and Managing Partner, Conscious Venture Partners. “This strategy’s focus on commercialization and broad-based opportunity is exactly what New Jersey’s entrepreneurs need, and we’re proud to be a part of that story.”

“New Jersey has long been invested in the energy sector with Princeton Plasma Physics Laboratory advancing the key science and technology innovations needed to bring fusion to the power grid,” said Timothy Meyer, deputy director for operations and chief operating officer for PPPL, a U.S. Department of Energy national laboratory managed by Princeton University. “New Jersey is propelling that investment forward with the launch of the NJ HAX Plasma Forge, bringing together PPPL’s cutting-edge research assets with venture capital expertise from SOSV to grow related start-ups. Combined with PPPL’s first-in-the-nation registered apprenticeship program in fusion energy and engineering, these efforts drive economic development in the state, advance new technologies, and grow the workforce of tomorrow right here in New Jersey.”

“HINJ applauds Governor Sherrill for pursuing a comprehensive economic strategy to strengthen New Jersey’s competitiveness, attract investment, and create jobs. New Jersey has led the world in research, innovation, and advanced manufacturing for more than a century, but other states and countries are working every day to lure away our companies and jobs. The Administration’s 21-County Tour took a thoughtful approach to identifying barriers to growth, and we value the Governor’s commitment to working with the life sciences community to build a more competitive and predictable environment,” said Chrissy Buteas, President and CEO of the HealthCare Institute of New Jersey. “Today’s Executive Order is an essential first step toward attracting investment, advancing medical innovation, and creating the high-quality jobs that will sustain our state’s economic future.”

“At SOSV, we’ve backed dozens of startups who have come to New Jersey from around the country and around the world.  New Jersey has an incredible ecosystem of top-tier talent, intellectual firepower, and access to capital that can help propel startups to become industry leaders,” said Sean O’Sullivan, Managing General Partner, SOSV. “New Jersey has leveraged its impressive educational and research institutions to maximize the state’s advantages across a range of deep tech and biotech industries. Startups can thrive here, and the state is becoming friendlier to business, to investors, and to taxpayers who want to live in New Jersey for the great quality of life it has to offer. I applaud Governor Sherrill for nurturing an innovation economy that creates durable businesses and quality jobs and gives New Jersey workers and communities a chance to participate in the industries shaping the future.”