An array of issues
Rutgers University economist James Hughes, dean emeritus of the Edward J. Bloustein School of Planning and Public Policy, said a rise in unemployment nationally, mixed messaging from Washington, D.C., the increasing cost of electricity and long-standing issues with bureaucratic red tape are adding to the uncertainty business owners feel.
“New Jersey has a tough road ahead of it,” Hughes said. “It took a long time for us to move into that negative business position, so I think the road out is going to be long as well.”
He said New Jersey’s energy infrastructure is old and will be costly to upgrade. Hughes also noted the state used to be known for suburban office buildings, but that’s no longer the case, with office hiring now stagnant.