Gov. Phil Murphy has made New Jersey’s innovation economy a cornerstone of his administration. While New Jersey has been a leader in many industries, competition from other regions, changes in market dynamics and the costs of living and business climate in the state have combined to erode New Jersey’s long-held leadership position. In response to the changing economy, New Jersey must focus on supporting small to middle-sized companies as well as the larger corporations. We believe, as does the Murphy administration, that reenergizing the innovation economy will provide both an immediate and long-term jolt to New Jersey’s workforce, job growth and tax base, and we applaud these efforts.
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