State of the State
After what seems like an already endless 2012 US presidential campaign, in which most participants pretty much decry everything, it was kind of fun to hear New Jersey Governor Chris Christie give his annual State of the State address. For one thing, he had some good news to report – and for another, the good news was about commercial real estate.
Granted, every “State of the [blank]” address allows the incumbent to trumpet his or her achievements, and Christie was no exception. So it isn’t surprising that following a brief tribute to the late Assemblyman Alex DeCroce, Christie would discuss the progress made on keeping companies – and jobs – in the state.
“I’m proud to report the New Jersey comeback has begun,” Christie said, recalling that at the time of his inauguration, he was uncertain the state could meet its payroll just two months later.
Since then, the state has added 60,000 private sector jobs, reversing a major decline, he continued.
“We have changed the business environment and are changing the job environment,” he said. Then came a healthy list of new corporate leases around the state, from Allergan to Pinnacle to Bayer to Novo Nordisk to LG, a turnaround begun “in the face of national headwinds.”
But it’s not all sunshine and rainbows. Earlier, State Senate President Steve Sweeney noted that while the state has made great progress in incentivizing business to grow, more needs to be done to create jobs and help the middle class and working poor. (I can think of several Class B office building owners who likely would agree.)
Both cited the ability to compromise, and to work from opposing points of view to help the state, a lesson each noted national leaders could learn.
(To search across all ALM blogs, go to www.Lexis.com.)
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