Creating
Jobs and Economic Growth for New Jersey
New
Jersey is one of the leaders in economic growth and new jobs.
We have succeeded by making tough choices. We focused on the right
investments like transportation and education, and are attracting
high paying jobs to the State through business incentive programs.
We are getting New Jersey back to work.
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Redesigned the Business Employment Incentive Program to target
on small businesses and fast-growing industries like high-tech
and biotech.
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Assisted small businesses by through our low cost loan program.
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Increased the Small Business Set-Aside from 15% to 25% to help
more small businesses get state contracts.
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Urged the Bush Administration to guarantee adequate funding
under the Small Business Administration loan program.
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Supported worker-training programs that provide financial management,
computer literacy and job training to ensure workers have the
skills they need.
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Encouraged small business growth through the nationally recognized
Urban Enterprise Zone program, creating more than 43,000 jobs
in the last 2 years.
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Changed small business classifications so companies with similar
revenues compete against one another for State contracts.
Most recently, New Jersey has been called
one of the strongest economies in the nation by the Corporation
for Enterprise Development
based in Washington, D.C. The non-profit group named New Jersey
along with just seven other states to the "honor roll" for
economic development in 2003.
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New Jersey has gained more than 25,500 jobs in the last year,
while the nation as a whole has lost 53,000.
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For the last six months our State unemployment rate has been
below the national rate.
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Reduced the State's unemployment rate from 5.5% to 5.3%.
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According to Rutgers Economist, Joseph Seneca, New Jersey's
economy has been outperforming the national economy.
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New Jersey's economy grew by nearly 2.9% in the last year.
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