2014 Summit Summary of Rountable Discussions
Following our morning keynote presentation and response panels, Summit attendees were invited to discuss a series of questions in small groups at their tables over lunch. The many interesting observations recorded will guide our research in the coming year.
All tables agreed that New Jersey’s regulatory system and infrastructure funding is in a crisis, and needs to change to respond to the demands of a new economy and a changing climate.
There were recurring themes in identifying the most pressing problems: Read more >>
“Moving Forward: The Challenge of the Future”
Summary of Afternoon Keynote: Stephen Ezell, Senior Analyst
Powerpoint available here.
Stephen Ezell is a Senior Analyst with the Information Technology and Innovation Foundation (ITIF), a Washington, D.C.-based technology and economic policy think tank, where he focuses on science, technology, and innovation policy as well as international competitiveness, trade, and manufacturing issues. He is the co-author with Dr. Robert Atkinson of Innovation Economics: The Race for Global Advantage (http://www.innovationeconomics.org).
Innovation economics is a new field that challenges neo-classical economic theories in which economics is about allocating resources, by claiming that society, i.e. government policy, can improve “dynamic efficiency” through public-private partnerships to drive sustainable economic growth. Key systems supporting an Innovation Economy are Technology, Talent, Tax, and Trade. Read more >>
A Changing Economy Demands Changing Land Use
Summary of Remarks by Jeffrey G. Otteau President, Otteau Valuation Group, East Brunswick, NJ
PlanSmart NJ “Changing Economy, Changing Land Use” Regional Planning Summit, June 13, 2014
Mr. Otteau opened the Regional Planning Summit with remarks addressing the challenges and opportunities present in today’s real estate markets. Mr. Otteau has been actively engaged in real estate consultation and valuation since 1974. His practice is concentrated in providing project feasibility, market analysis, redevelopment guidance, and valuation analysis to developers, financial institutions, governmental entities, and investors. Frequently quoted in the New York Times and Wall Street Journal, and having made television appearances on CNBC, Bloomberg and NBC News, Mr. Otteau is widely respected for his knowledge and insight into real estate trends. His attention to detail and comprehensive fact finding has made him the go-to person for industry professionals seeking to enhance their competitive position in the marketplace.
Opinion: Marking Time Until The Revised State Plan Can be Adopted
The blueprint for growth and preservation is integral not just to development but also to quality of life in New Jersey
As New Jersey residents watch a variety of important economic growth, Hurricane Sandy, and open-space protection bills wind their way through the Legislature this summer, it’s hard not to think how much further along we would be if New Jersey had adopted a new State Plan. 
New Jersey’s revised State Plan, our state’s blueprint for growth and land preservation, was originally set to be adopted by the State Planning Commission last year. The new State Plan — still in draft form — provides a broad framework for how and where development should take place in New Jersey, as well as criteria for conservation. Unfortunately, the revised State Plan is in a deep freeze, at least until after November’s election. Read more >>
Opinion: Revitalizing NJ for Its Newest Generation of Knowledge Workers
The Economic Opportunity Act of 2013 could help fund the redevelopment of the state’s urban centers and suburban office parks
Earlier this month, both Senate and Assembly committees took up the Economic Opportunity Act of 2013, a mammoth piece of legislation that consolidates New Jersey’s disparate economic development incentive programs into two. Grow NJ is focused on attracting and retaining companies here in New Jersey, while the Economic Redevelopment and Growth Grant Program (ERG) creates incentives for development and redevelopment in urban and other designated areas.
The bills are moving fast and have garnered widespread support muted by some criticism.
Grow NJ provides financial incentives to companies to encourage economic growth and job creation, as well as to preserve jobs in New Jersey that are at risk of relocation. The bill links incentives to specific job creation goals based on industry type and minimum capital investment thresholds. It also provides increased tax credits to companies that locate in urban and distressed municipalities. Additional tax-credit awards are offered to companies locating in impoverished areas, building near public transit, providing jobs in New Jersey’s targeted growth industries, and adhering to green-design standards, among other categories. Read more >>
