February 2012
Tri-State Governors Focus on Jobs and Economic Growth in New Year
Jobs and economic growth are priorities for the governors of Pennsylvania, New Jersey and Delaware in 2012. Both New Jersey Gov. Chris Christie and Delaware Gov. Jack Markell, in their "state of the state" addresses delivered in January, and Pennsylvania Gov. Tom Corbett, in his 2012-23 budget address delivered earlier this month, stressed business attraction and expansion.
Corbett announced several economic development initiatives including a new "Jobs First PA," the expansion of the state's Keystone Opportunity Zone program and the Liberty Financing Authority, which will make direct loans to expanding businesses.
Corbett referenced the state's $15 million commitment to deepening the Delaware River channel in order to accommodate a new generation of tankers. "We want those ships tying up on the docks of Philadelohia, the world's best inland port, once we complete the work," Corbett said. As many as 75,000 jobs will be created or saved over the next five years as a result, he said. Construction of two supertankers by Aker means the nearby shipyard "will be booming for years to come [and] more than 1,000 jobs have been saved. Thousands more will be spun off as those tankers take shape and set sail," Corbett added.
Corbett also named Rob Wonderling, president and CEO of the Greater Philadelphia Chamber of Commerce, to head a new panel on postsecondary education, due to report by November 15 "on how our universities can best serve the students and citizens of this new century."
Delaware Gov. Markell made economic and business growth the focus of his speech. He called for continued funding of the Strategic Fund, which he credited for attracting and retaining employers including PBF Energy, Sallie Mae, Fisker Automotive and others, as a way to "remain nimble, opportunistic and aggressive when large employers present job opportunities."
To support small businesses, Delaware is the first state, he said, to announce a partnership with Facebook that will help small firms fully engage social media to market their products and services. To nurture start-ups, Delaware will draw on best practices observed in recent months at locations including Silicon Valley and Philadelphia's University City Science Center.
Infrastructure investments are also critical to supporting business expansion and investment, Markell said. A $40 million investment in roads and bridges paid off with Amazon's recent decision to expand in Delaware. Another $10 million was invested at the Port of Wilmington and Markell said further expansion and modernization at the port should be considered to protect jobs and increase capacity to handle global trade.
In New Jersey, Gov. Christie said, "Job one is the economy." In his speech, Christie repeatedly invoked the "New Jersey Comeback," citing job numbers that show that 2011 was the best private-sector job growth year in the state since 2000.
Christie also named a number of businesses that have come to the state, including Pinnacle Foods in Cherry Hill, as examples of an improving business environment. "Employers are beginning to understand that New Jersey is once again a friendly state for businesses and jobs."
Earlier in January, Christie signed legislation creating the GrowNJ Assistance program providing at least $200 million in incentives. The program is intended to encourage business investment and expansion by providing tax credits to companies moving to or growing in New Jersey based on capital investment and job creation or retention.