The NJBIA recently analyzed seven states to rank them according to their business climate. Unfortunately, New Jersey finished out of the money, finishing at the bottom of the pile — below Massachusetts, Connecticut, New York, Pennsylvania, Maryland and Delaware.
According to its 2020 Business Climate Analysis, New Jersey has the least-competitive business climate, with the highest corporate tax, state sales tax, income tax and property taxes in the region.
“Once again, New Jersey is dead last on overall regional competitiveness and affordability,” said NJBIA President and CEO Michele N. Siekerka. “The only way for New Jersey to turn this situation around is with comprehensive reforms that are long-term and sustainable, not more tax increases and short-term fixes that only get the state through the next one-year budget cycle or two-year election cycle.”