Washington - Today, two New Jersey experts in business and economic development joined Senator Menendez for a roundtable discussion with Senators and local leaders from ten states to share ideas and discuss efforts to successfully work together to support policies which spur economic growth and job creation in communities across America. The meeting was part of an ongoing effort by Menendez and Democratic senators to seek local perspectives on economic challenges and policies which encourage hiring and strengthen the economy. Participants emphasized the need for the Senate to continue to focus on local business priorities which include support for small businesses, providing increased access to capital, and investing in workforce development programs. Lisa Morina, Executive Director of the Gloucester County Department of Economic Development and Chip Hallock, President of the Newark Regional Business Partnership participated in the discussion.

"If you want to know how to make government and the private sector work together to boost local economies, create jobs and help communities thrive, come to New Jersey," said Menendez. "Today was a great opportunity to hear from two top-notch New Jersey economic development leaders- Lisa Morina of Gloucester County and Chip Hallock of Newark -- who understand how important it is for Washington to help create a climate where businesses can grow and job-creating projects can get off the ground. Here in Washington, we have to do everything we can to create an environment which is conducive to job growth and a strong private sector."

"This is an excellent opportunity to discuss how the federal government can support our members in their efforts to spur greater economic growth in the Newark region," said Chip Hallock, President of the Newark Regional Business Partnership (NRBP). Much of NRBP's effort is focused on working with their members to connect them to resources and individuals who can advance their business needs and help resolve obstacles to success.

"Additionally, roundtables like this allow us to share information about what is working to create jobs and consider ways to adopt successful practices from colleagues in other states," Hallock said.

Lisa Morina, Executive Director of the Gloucester County Department of Economic Development in Woodbury underscored the importance of successful partnerships between Gloucester County and the federal Government. In addition to being one of the state's fastest growing counties in terms of population, Gloucester County touts itself as being one of the nation's leading counties for job growth since 2003. The county has worked on several successful partnerships with the Senator to create new economic development and job opportunities.

"By having a frank and open discussion with our federal leaders on how to eliminate barriers to job creation we can collectively explore best practices successfully applied throughout the country to promote economic development," said Morina. "I am excited to be a part of this discussion on how government, the private sector, educational and business organizations can best work together to boost our local economy."

Senator Menendez has long been fighting to give small businesses the tax relief, access to capital and regulatory environment they need to flourish:

Tax Relief

  • Strong supporter of bills signed into law that provided tax incentives to small businesses to expand and purchase new equipment.
  • Also supported legislation that made it easier for start-up small businesses to secure private investments.
  • Supports the President's American Jobs Act, which would cut payroll taxes in half for small businesses, allow 100 percent expensing through 2012, and provide incentives for hiring unemployed workers and veterans.

Access to Capital

  • Has worked to increase loan guarantees offered by the SBA, to relieve the credit crunch on small businesses which hinders their growth.

Easing Regulations

  • Voted to repeal the so-called 1099 reporting requirement so business owners can focus more on their business and less on paperwork.
  • Was a leader in securing an amendment to the Dodd-Frank Wall Street Accountability Act that requires the federal government to ensure new regulations do not hurt small businesses before they are put into place.
  • Most recently, supported the repeal of the so-called 3 percent withholding requirement, which prevented small businesses from receiving the full payment for contracts until the tax year concluded.

Closing the Skills Gap

  • Recently announced proposals to close the skills gap and connect workers with in-demand jobs. They include a competitive tax creditprogram to encourage workforce partnerships between businesses and colleges, and a tax credit up to $3,000 for any American business that is willing to train a long-term unemployed worker for an open job.

L to R: Chip Hallock, President of the Newark Regional Business Partnership; Senator Robert Menendez; Lisa Morina, Executive Director of the Gloucester County Department of Economic Development.

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