Sponsored by:
Assemblyman ANTHONY M. BUCCO
District 25 (Morris and Somerset)
SYNOPSIS
Establishes “New Jersey Business Advisory Council” in Business Action Center.
CURRENT VERSION OF TEXT
As introduced.
An Act establishing the “New Jersey Business Advisory Council” and supplementing Title 52 of the Revised Statutes.
Be It Enacted by the Senate and General Assembly of the State of New Jersey:
1. a. (1) There is established within the Business Action Center in the Department of State the New Jersey Business Advisory Council. The council shall consist of 12 members appointed by the Governor. Members of the advisory council shall include representatives from small, medium, and large businesses, urban, suburban, and rural-based businesses, and shall represent a variety of industry sectors, including businesses involved in science, technology, engineering, mathematics, or innovation and businesses engaged in military contracts or hiring veterans.
(2) At least three of the members shall be representatives from United States subsidiaries of foreign-based companies with operations located in New Jersey.
(3) At least three of the members shall be residents of either Bergen, Essex, Hudson, Morris, Passaic, Sussex, or Union counties, at least three of the members shall be residents of either Burlington, Hunterdon, Mercer, Middlesex, Monmouth, Somerset, or Warren counties, and at least three of the members shall be residents of Atlantic, Camden, Cape May, Cumberland, Gloucester, Ocean, or Salem counties.
b. Vacancies in the membership of the council shall be filled in the same manner provided for the original appointments. The members of the council shall serve without compensation, but shall be reimbursed for necessary and reasonable expenses actually incurred in the performance of their duties, within the limits of funds appropriated or otherwise made available to the council for this purpose.
c. The council shall:
(1) annually select a chairperson from among its members;
(2) meet at least four times a year;
(3) be entitled to call to its assistance, and avail itself of the services of the employees of, any State, county, or municipal department, board, bureau, commission, or agency, including the New Jersey Economic Development Authority, as it may require, and as may be available to it for its purposes; and
(4) make recommendations to the Business Action Center and New Jersey Economic Development Authority on issues involving the improvement of the business climate in New Jersey, including recommendations for policy and regulatory changes concerning the:
(a) identification of business sectors critical to the State’s current and future economic health;
(b) determination of policies to promote the creation, retention, and expansion of businesses in the State and the relocation of businesses to the State;
(c) determination of policies to increase and retain foreign direct investment to the State, including the identification of potential foreign markets and the development of policies to promote expansion of foreign firms located in the State; and
(d) determination of policies to increase exports from State businesses.
d. The Secretary of State shall designate a representative from the Department of State to serve as a liaison and to assist the council in accomplishing its mission.
e. The Business Action Center shall review and consider all recommendations submitted by the council.
2. This act shall take effect immediately.
STATEMENT
This bill would establish the “New Jersey Business Advisory Council” within the Business Action Center (BAC) in the Department of State to advise the BAC and the New Jersey Economic Development Authority (EDA) by recommending ways to improve the business climate in New Jersey. The advisory council would consist of gubernatorial appointees. The bill provides that the northern, central, and southern regions of the State would each be represented by three advisory council members. The bill also provides that advisory council members would represent a variety of businesses, in terms of size, location, and industry. The bill requires at least three members to be representatives of United States subsidiaries of foreign-based companies with operations located in New Jersey
The bill requires the advisory council to make recommendations to the BAC and the EDA on ways to improve New Jersey’s economy, including identifying key business sectors, and recommending business creation, retention, and expansion strategies, foreign direct investment attraction strategies, and export promotion strategies.