Mar 10 2025 4 mins 1
New Jersey continues to grapple with economic challenges and political shifts as 2025 unfolds. Governor Phil Murphy recently signed legislation expanding early in-person voting from three to six days for non-election years, aiming to increase voter participation. The law also allocates $6 million in state funds to support the expansion, with the possibility of additional funding if needed by local governments.
In economic news, the state's labor market shows signs of growth in key sectors. Construction, professional services, manufacturing, and leisure and hospitality are experiencing stability or expansion. The health services sector is particularly robust, reflecting an aging population's increasing medical needs. However, challenges persist, with the state's 11.5% corporate business tax rate remaining the highest in the country, potentially deterring new businesses.
Environmental concerns remain at the forefront of state policy. Despite potential changes in federal climate policies under the Trump administration, Governor Murphy has reaffirmed New Jersey's commitment to addressing climate change. The state aims to reach 100% renewable energy by 2035, though the impact of federal policies on infrastructure and clean energy projects involving federal funding remains uncertain.
Weather-wise, New Jersey experienced a notably dry and cold January, with statewide precipitation averaging just 0.92 inches, the third driest since records began in 1895. The state remains under a Drought Warning, first issued in November, with the past six months seeing precipitation 11.97 inches below normal, the second driest fall/winter period on record.
In community news, Jersey City's annual Restaurant Fest is underway, featuring over 35 local eateries and running through March 15th. The event showcases the city's diverse culinary scene and aims to boost local businesses.
Looking ahead, New Jersey's political landscape is set to heat up with the upcoming gubernatorial election. The primary, rescheduled to June 10th due to the Jewish holiday of Shavuot, is expected to be highly competitive. Additionally, the state continues to monitor drought conditions and implement water conservation measures as it moves into spring. Businesses and residents alike are watching closely for any economic policy shifts that may come with the changing political tides.
In economic news, the state's labor market shows signs of growth in key sectors. Construction, professional services, manufacturing, and leisure and hospitality are experiencing stability or expansion. The health services sector is particularly robust, reflecting an aging population's increasing medical needs. However, challenges persist, with the state's 11.5% corporate business tax rate remaining the highest in the country, potentially deterring new businesses.
Environmental concerns remain at the forefront of state policy. Despite potential changes in federal climate policies under the Trump administration, Governor Murphy has reaffirmed New Jersey's commitment to addressing climate change. The state aims to reach 100% renewable energy by 2035, though the impact of federal policies on infrastructure and clean energy projects involving federal funding remains uncertain.
Weather-wise, New Jersey experienced a notably dry and cold January, with statewide precipitation averaging just 0.92 inches, the third driest since records began in 1895. The state remains under a Drought Warning, first issued in November, with the past six months seeing precipitation 11.97 inches below normal, the second driest fall/winter period on record.
In community news, Jersey City's annual Restaurant Fest is underway, featuring over 35 local eateries and running through March 15th. The event showcases the city's diverse culinary scene and aims to boost local businesses.
Looking ahead, New Jersey's political landscape is set to heat up with the upcoming gubernatorial election. The primary, rescheduled to June 10th due to the Jewish holiday of Shavuot, is expected to be highly competitive. Additionally, the state continues to monitor drought conditions and implement water conservation measures as it moves into spring. Businesses and residents alike are watching closely for any economic policy shifts that may come with the changing political tides.
