NEW BRUNSWICK, NJ-Gov. Jon Corzine was not the bearer of good tidings Tuesday, speaking before the Public Policy Symposium of the New Jersey Chapter of Naiop here yesterday. Noting such challenges as the current state of the economy–”I believe we’re in recession,” he said, echoing Warren Buffet–that condition only exacerbates the “structural deficiencies of state and local finances.”

Corzine also expressed concerns about New Jersey’s competitiveness vis-à-vis neighboring states, admitting that when it comes to tax structure, “we’re at a disadvantage.” Add to that chronic congestion issues and a dated infrastructure and, “I could talk on and on about the challenges,” he said.

His remarks came against a backdrop of a state fiscal crisis and his own plan to generate cash from substantial toll hikes on the state’s superhighways coupled with substantial budget cuts, recently revealed. All that said, “the state has great strengths,” Corzine told NJ-Naiop attendees, “and the biggest strength is location. We have an incredible location, great demographics and incredible advantages to build on.”

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