Research Reports from the Garden State Initiative
New Jersey's Business Tax Competitiveness: Modelling the Prospects for Growth - May 2018
Even if New Jersey dramatically cuts the corporate income tax, it would still have to slice the sales tax to compete effectively with lower-tax states. While New Jersey looks at increasing taxes, its competitor states are looking at how to decrease them as a way to boost business and industry. Increasing taxes will only further the climb required to grow the economy.
Those are some of the findings from the new report released by the Garden State Initiative. The report, with research conducted by noted accounting firm EY, details New Jersey’s business competitiveness compared with five states: Connecticut, New York, Pennsylvania, North Carolina and Ohio. The study delves into commercial and manufacturing industries that face off against each other across state lines.
Click here to download a PDF of the full report.
Connecticut's Fiscal Crisis Is a Cautionary Tale for New Jersey - October 2017
Connecticut provides a cautionary tale for the next governor of New Jersey, according to a report from the newly launched Garden State Initiative. With its “severe pension underfunding, a high tax burden and politically powerful government unions,” New Jersey is facing challenges that have already placed it near the bottom of national rankings of fiscal health, according to the author of the report, Stephen D. Eide of the Manhattan Institute. One of the only states to fare worse in recent years has been Connecticut, which mirrors New Jersey in many ways.
Click here to download the PDF of the full report.