At a recent OCBA networking lunch, members heard from Chris Emigholz, Chief Government Affairs Officer at the New Jersey Business & Industry Association (NJBIA). His presentation offered a clear, honest look at the current economic climate in New Jersey and how state-level decisions are directly impacting local businesses here in Ocean County.
For business owners, the message was straightforward: New Jersey has tremendous potential, but it is not performing where it should—and the reasons are both structural and policy-driven.
New Jersey remains a state rich with advantages. Its location between major metropolitan areas, access to transportation infrastructure, and highly skilled workforce all create a strong foundation for business success.
A State with Strong Assets—and Real Challenges
Despite our many strengths, NJ is underperforming in key economic indicators. Emigholz pointed out that New Jersey currently ranks near the bottom nationally in unemployment and is lagging behind much of the country in economic growth. That gap represents real missed opportunity—not just at the state level, but for local businesses that rely on a strong, active economy.
The underlying causes are not a mystery. According to NJBIA, two factors consistently rise to the top: cost and regulation.
New Jersey is one of the most expensive states in the country to operate a business. Taxes – corporate, property, or personal income – are among the highest in the nation. At the same time, the cost of labor, insurance, and energy continues to rise. For many business owners, especially small and mid-sized companies, these expenses create constant pressure on margins.
Layered on top of that is a regulatory environment that is often more complex than in neighboring states. In many cases, New Jersey imposes requirements that go beyond national norms, adding time, uncertainty, and administrative burden to everyday business operations. While each regulation may be well-intentioned, the cumulative effect can make it harder to hire, expand, or invest.
Why Predictability Matters More Than Policy
One of the most important themes from the discussion was not just what policies exist – but how stable they are.
Business owners can adapt to taxes, regulations, or even unfavorable conditions if they are consistent and predictable. What makes planning difficult is uncertainty. Changes at the federal level, shifting economic policies, and evolving regulations all contribute to an environment where it is harder to make long-term decisions.
Whether it is supply chain disruptions, tariff changes, or new labor laws, unpredictability adds risk. For businesses in Ocean County—many of which operate on tight timelines and seasonal demand—this uncertainty can be especially challenging.
A Shift in Direction—and a Reason for Optimism
Despite the challenges, there are signs of a shift in how New Jersey is approaching its business climate.
Emigholz highlighted early actions from the state’s new administration that suggest a more business-aware approach. Efforts are being made to streamline permitting processes, reduce delays in occupational licensing, and improve how businesses interact with state agencies. These are not headline-grabbing changes, but they address real frustrations that business owners deal with every day.
There is also a noticeable focus on controlling spending growth and taking a more disciplined approach to the state budget. While not without controversy, these efforts reflect an understanding that long-term economic health depends on sustainable financial management.
At the same time, NJBIA continues to advocate for policies that prioritize workforce development, infrastructure investment, and innovation. These areas are seen as critical to strengthening the state’s economy without placing additional burden on businesses.
Local Impact: What This Means for Ocean County
While many of these issues are discussed at the state level, their effects are felt locally.
One of the most pressing concerns raised during the discussion was housing affordability. Employers across Ocean County are facing growing difficulty attracting and retaining workers—not because jobs are unavailable, but because employees cannot afford to live nearby.
Rising home prices, limited inventory, and increased competition from out-of-state buyers have created a disconnect between wages and housing costs.
Infrastructure is another concern. As development continues throughout the region, traffic congestion and transportation limitations are becoming more noticeable. Business growth depends not only on available space, but also on the ability for customers and employees to access it efficiently.
Energy costs also remain a significant factor. For many businesses, especially those in manufacturing or high-usage industries, rising utility expenses are not just an inconvenience—they are a major line item that affects competitiveness.
The Bigger Picture for Business Owners
What made this presentation so valuable was the connection between policy and day-to-day business reality. Decisions made in Trenton are not abstract – they influence hiring, pricing, expansion plans, and long-term strategy.
Understanding these dynamics allows business owners to be more proactive, more informed, and better prepared for what lies ahead.
It also reinforces the importance of having a strong, unified business voice. Organizations like NJBIA advocate at the state level, but local associations like OCBA play a critical role in bringing those conversations closer to home.
Get Involved with OCBA
For business owners and leaders in Ocean County, staying connected is not just beneficial—it is essential.
The Ocean County Business Association provides a platform to engage with other professionals, hear directly from policymakers and industry experts, and stay informed about the issues that impact your business. It also strengthens the voice of the local business community, ensuring that concerns from Ocean County are represented in broader discussions.
If you are not yet a member, now is the time to get involved. Being part of the conversation is one of the most effective ways to protect and grow your business in today’s evolving economic landscape.