T H I S W E E K
Going all in
The New Jersey business community
A nightlife developer
has high hopes for the new lieutenant bets on an Atlantic City
governor position, but few details have project while others stall,
been mapped out by the state regard-
lose funding. Page 19
ing broader responsibilities.
CONSTRUCTION / ARCHITECTURE SPOTLIGHT
A L L B U S I N E S S ◆ ALL NEW JERSEY $2.00 MARCH 30, 2009 www.njbiz.com
Shovel-ready for stimulus funding
State hit the ground running to ‘We are taking things that
Steven J. Dundas
used to be on our wish
The recession cools off Metropark office quickly create work for business list and getting them into
building complex after a long line of our to-do list now that we
leasing activity. BY SHANKAR P.
have the money to do it,’
Page 10 SIX WEEKS AFTER President Barack Obama
said Jerold Zaro, head of
signed the federal stimulus package into law, New
Finance Jersey already has lined up dozens of shovel-ready
the state’s Office of
Economic Growth. Zaro
projects, some of which are now seeking bids.
will not be involved with
A dozen legislative meetings found ways to
spending any of the
spend the state’s share of those funds in the weeks
money from the federal
Follow the Money
but he is working with
the governor to
Tracking federal stimulus dollars streamline state processes
Customers who have fallen behind from Washington to Trenton so that shovels can hit the
on making payments have caused ground faster.
after the law was signed. New Jersey has $17.5 bil-
small-business owners to crack down
lion — a 3.2 percent share — of nearly $550 billion
on their collection policies and demand
money upfront. of federal stimulus dollars that will be available
Page 12 over three years. It wants to garner at least a 3 per- like the transportation and environmental been queued up for some time, said Jerold Zaro,
cent share of another $240 billion in competitive departments, with oversight from Ed McBride, head of the state’s Office of Economic Growth. “We
Sales Tips grants and some tax breaks, and is the governor’s chief of staff, and Matt are taking things that used to be on our wish list
Page 15 Inside
urging local governments, com- • Economic Development Boxer, the state’s comptroller, who and getting them into our to-do list now that we
munity organizations and individ- Authority playing indirect will jointly lead a team overseeing have the money to do it,” he said.
Opinion uals to bid for them. role in funding. Page 4 stimulus spending. The most direct and immediate impact on
Our Point of View: Business advocates
Deployment of the stimulus Many of the projects now identi- business opportunities comes from the $1.38 bil-
need to speak out against Gov. Jon S.
funds will fall under the charge of state agencies, fied for funding from the stimulus package have ➤➤ See FUNDS on page 5
Corzine’s proposed payroll tax increase,
and offer alternative solutions to raise
money for the unemployment fund.
Also, Political Exchange, Corner Office
and Letters to the Editor.
A budget battle for business Here’s your pink slip.
A local developer plans to preserve and
Proposals suggest cuts to program funds to save state spending
BY SCOTT GOLDSTEIN “It’s our philosophy that in this tough
We’ll see you in court
reuse the former Bell Labs building as a
mixed-use community. TRENTON — It won’t be easy, but lobbyists economy, everyone should be asked to Employers look to avoid layoff lawsuits
are gearing up to fight some of the tax tighten their belt, and that includes every
increases set to hit business owners under the state department and every program,” BY MARTIN C. DAKS
Scene $29.8 billion state budget