New Jersey is become quite the global business player according to local entrepreneurs. Even some of the small companies are expanding and developing a global presence. According to New Jersey Business Action Center Executive Director Melanie Willoughby:
“We are in a global marketplace now, and we want them to understand the value of expanding their business internationally. Doing business just in your home state is no longer going to help you grow exponentially. You really need to expand your horizons because there is so much competition in the marketplace. Small companies don’t realize their potential and that their products are wanted internationally, so that’s where the Office of Export Promotion comes in, where we can help them identify where their best markets might be. There are many international trade shows and companies are very interested in going there to be able to demonstrate that their products are very viable in the international stage.”
The Center was developed for locals to get easy access to much needed information from government agencies as well as guidance to officials and contacts, help set up meetings, and more, all for free and all completely confidential. One branch of the center is Export Promotion which helps locals comprise an export plan for their businesses.
In 2018 most of New Jersey’s exports went to Canada, China, Germany, Mexico and the UK. Items included: chemicals, computer products, electronic products and primary-metal materials.
At the end of last month numerous local individuals volunteered their time to help
clean up the Connecticut River basin. This
was part of the 23rd annual
Connecticut River Conservancy’s Source to Sea Cleanup. Each year Connecticut, Massachusetts, New
Hampshire and Vermont volunteers met at the 410-mile riverbank for their day of
All sorts of people joined the event:
those from different religious/faith organizations, environmentalists,
students, community members and even business groups. Around 3,000 people come and help the cause,
collecting a ton of non-biodegradable items including mattresses and scrap
As well as this being a wonderful way for community members to come together it is also great for the environment which ultimately helps the economy too. Indeed, a study found: that:
“massive cleanup efforts can ultimately be preferable, from an ROI standpoint, to the industrial and residential development projects often favored above ecosystem restoration and conservation initiatives in highly polluted areas.”
This kind of environmental cleanup is
hugely welcome and should be encouraged in other regions too.
Tomorrow CT residents will be subject
to two new taxes. On October 1, 2019,
grocery store shoppers will see a new sales tax on prepared foods. The
additional tax is 7.35% and is part of the June state budget. It is hoped that this will lead to an
additional $100m in taxes over the next 24 months.
The law is a little strange (and thus
confusing though). A purchase is only
taxable for five or fewer fast food items including bagels and cookies. North
Haven’s Republican Leader Senate Len Fasano held up a rotisserie chicken at a
Capitol news conference and said:
“If you were to walk out with this chicken and a soda today, you would not be taxed on either. After Oct. 1, because they’re going to deem the soda as part of the chicken, you’re going to get taxed on the chicken and the soda. If you just bought the soda, you wouldn’t be taxed. But because you buy it together, someone has to make the determination that it’s part of the meal. That’s what [the state tax department] is saying.”
And if you buy the donuts at your
local Dunkin Donuts, no matter how many you purchase the tax will not
apply. It is only grocery stores.
In addition, digital download tax
increase will jump from 1 to 6.35 percent.
Route 12’s Salt Storage Facility
(under the auspices of New York’s Department of Transportation) has been blamed
for water faucet contamination. After over a decade of complaints and legal
action taken, as well as over $15 million being put into the construction of
the necessary infrastructure, 500+ property owners can now drink the water from
their faucets with confidence.
In 2015, the New York Council of the
American Society of Civil Engineers ranked New York’s infrastructure from Long
Island to Massena ‘C.’ Yet at that time
95 percent of funding requests for infrastructure enhancement were rejected. According to
New York Report Card Committee Chairman, Bud Griffis:
“The Report Card shows that our infrastructure is only as good as the weakest links and that we have a lot of areas that need improvement.”
This endeavor was launched by the
Orleans Town Council back in 2012. It is
anticipated that the entire project will be completed in 2020.
Over in Newark, NJ, it was recently
announced that $120 million is being put into replacing around 18,000 very old
service pipes over the next two and a half years. The situation of problematic water from
faucets in the area escalated around a year ago when faucet water filters were
distributed to remove lead that had been getting through. Just recently tests were found that some of
these filters were not doing an adequate job and the city was forced to provide
According to a recent report from WalletHub – Happiest States in America – people who live in New Jersey are very happy, coming in at number five. All 50 states were studied based on 31 different criteria including: emotional wellness, active physical participation, finances, etc. While New Jersey did not fare so well financially, the state ranked second lowest for the amount of adults suffering from depression and suicide. It also had a low rate for divorce (fourth lowest).
there is work being done by the New Jersey Economic Development Authority to re-launch
a program to enable suburban towns to take empty retail and office properties
and find a new use for them. This is
part of a larger “community investment” program put in place by Governor Phil
Murphy repurpose vacant retail and office properties. And is based on the fact that the state’s
economy is encountering a metamorphosis which could be the reason why it
did not fare so well vis-à-vis
In this video published by NBC Connecticut, Mystic Aquarium director of education and conservation MaryEllen Mateleska talks about single use plastic bags and the impact they have on the environment. This impact is becoming of greater interest to the community at large.
How do small businesses fare in New York? One often hears about crippling office rental spaces, harsh competition and other potential obstacles, but what are the advantages, if any? Here we take a look at some of the good reasons for opening a New York based business…even from one’s home.
Hostess of Real Life Cooking and Lovers and Friends Kathleen O’Brien Price (also former champion of “Chopped”) seems to be taking the New York small business scene very much in her stride. At just 31 years of age, O’Brien Price is part of a new group of entrepreneurs in the food industry who are getting attention around the city just from the work they do in their own homes. Using social media to promote events, they often only know one or two people who are in attendance at their homes! This is thanks to the ripple effect of social media. O’Brien Price said that at one event one guest told her that even though she doesn’t know her, she does via Instagram! According to Brooklyn based lawyer Jaime Lathrop:
“In New York City, if you are zoned residential, you can use your apartment for business if the business occupies only 25 percent of your available space, up to 500 feet, and you can’t have any employees on site.”
So from O’Brien Price it looks like
small home based businesses are a good idea in New York. Plus, according to the Small Business Administration 2.1 million small business owners agree – as
that is how many there are in the state.
(In addition, there are 4 million employees of small businesses in New
York, accounting for over half of the private workforce).
Also positive for small businesses in
the region is B Corp Spring Bank which has less than 50 members of staff and
works with underserved consumers and small businesses. Approximately 2 years
ago it established an Employee Opportunity Loan Program to offer loans for
employees at participating companies of up to $2,500 with no minimum credit
Improvements in transportation are being made for New Jersey
residents. With a new ferry service and
additional grant funding for enhancement in road services, there should be good
news for commuters and locals moving around the region.
Ferry service is being brought to Newport, Jersey City. The service – that will run between Newport
and Manhattan’s West 39th Street Ferry Terminal – will be in
operation every day of the week. The
terminal for New Jersey will be Hudson River Waterfront Walkway at 30 River
Court. Residents will get a discount on
The route will start at Newport and end at West 39th Street Ferry
Terminal in Manhattan. It will be
available seven days a week. Newport’s new ferry landing will be located at the
Hudson River Waterfront Walkway behind the East Hampton rental building at 30
River Court. Newport officials said residents will receive a discount on
Grants of $30.1 million have been provided by the New Jersey Department
of Transportation to be put toward local roads used as freight conduits. These
monies are part of the Local Freight Impact Fund program which has been
established to provide assistance for the facilitation of heavy truck traffic.
Esco Optics Inc. has just opened a new
branch in Oak Ridge, N.J. The optical
manufacturer is expanded its presence in the area and the new office will be
known as Esco North. According to
Business Development Manager, Ron Schulmerich:
“This is exciting for everyone involved. As a top optics provider, this office gives us a stronger footprint within the fabric of Rochester. It allows us to continue to foster great experiences with our customers and opens a more formal presence in the area.”
include: Michael Vergo who is Custom
Optics Design & Development Specialist and Joelle Brunetto who has been
opened Sales Operation Manager. According to President of
the firm, Lee Steneken: “We have over 60 years of optical heritage and we’re
now positioned to grow our company and better serve our customers. It is
with great pride that we are able to launch Esco North. This expansion is all
due in part by our team in Oak Ridge, NJ.
We are a family that has stuck together because we love what we do. Our
manufacturing capabilities continue to thrive in our new headquarters, and the
addition of Esco North will be a vital component of our expanded service to all
current and future customers, especially within the Rochester area.”
Cara Therapeutics just closed on Monday with a $145.5 million stock offering. This is their third major public offering in the last 2.5 years and they plan to use the proceeds to fund the work they are doing on a new drug they are submitting to the FDA for Korsuva injections. The funding will help to support the clinical programs for an oral version of Korsuva
Korsuva will become their first drug to make it to market. They are based in Stamford, Connecticut.