NYSE reportedly vows to pull operations in NJ if new tax is enacted

An innovative idea to raise revenue for the state may not get past the idea stage. A bill has been proposed that would allow New Jersey to enact a tax on financial transactions, and Gov. Phil Murphy has said he’s willing to consider that. But if that happens, the New York Stock Exchange is planning to move its technology operations out of North Jersey, according to The Wall Street Journal. At the governor’s news conference Friday, the governor said he was hoping to have a “constructive dialog” with exchange operators on the tax issue.

New Jersey college students have a chance to help repair the state’s economy and win a cash prize for doing so. Fifteen schools are participating in a competition that launched Friday called UBS Pitch 2020. One aspect of the competition is to use artificial intelligence and machine learning to develop predictive models that the state could use as it plans future economic programs.

Living in the most densely-populated state means that efficient land use and development are important issues. A new report from Rutgers and Rowan Universities shows New Jersey has been using less land for development. But according to NJ Spotlight, some experts believe the pandemic will reverse that trend.