TRENTON, N.J. — November 11, 2026 — Gov. Mikie Sherrill signed an executive order Tuesday launching a statewide economic development strategy aimed at reducing business costs, simplifying regulations, attracting investment and creating jobs across New Jersey.
Executive Order No. 28 establishes the New Jersey Means Business Economic Development Strategy, a coordinated effort involving multiple state agencies. The plan sets economic development priorities through 2030 and introduces deadlines for developing reforms.
The initiative comes as New Jersey faces persistent criticism over its high business costs, complex regulations and tax burden. State officials say the new approach is intended to make it easier for companies to establish operations, expand and remain in New Jersey.
Lower Costs and Fewer Regulatory Barriers
One of the most significant parts of the order directs state officials to examine the expenses and administrative requirements businesses face.
Within 90 days, agencies must prepare initial recommendations for reducing the cost and complexity of starting, operating and expanding a business.
The review will consider taxes, fees, licensing procedures, overlapping regulations and other requirements that can increase operating expenses.
The order also calls for a coordinated permitting assistance service within 150 days, designed to help qualifying businesses navigate state and municipal approvals.
For developers and business owners, delays involving permits and regulatory reviews can add substantial costs to projects. The administration wants agencies to coordinate more closely rather than require businesses to navigate multiple government offices independently.
However, the executive order does not immediately lower taxes or eliminate existing regulatory requirements. Those changes would depend on future recommendations and, in some cases, additional government action.
New Focus on Jobs, Investment and Innovation
The strategy also directs state officials to identify industries where New Jersey has the strongest opportunities for economic growth.
Within 120 days, agencies must recommend priority sectors for coordinated state support, along with possible improvements to financial incentives and workforce development programs.
Research and innovation are another major part of the initiative.
The administration plans to strengthen cooperation among universities, research institutions, private companies and state economic development agencies. The goal is to help turn scientific research and technological advances into commercial businesses, private investment and new jobs.
Existing initiatives, including the New Jersey Supercomputer Initiative, are expected to play a role in those efforts.
Small Businesses and Struggling Communities
The order creates a new economic development council to coordinate implementation across state government.
It also calls for an advisory group representing small and midsized businesses, giving business owners an opportunity to identify obstacles and recommend improvements.
Another part of the strategy focuses on communities facing persistent economic challenges. State agencies have been directed to develop approaches that could expand investment and employment opportunities in those areas.
Efforts to revitalize Trenton and Atlantic City are specifically included in the broader plan.
Business Groups Welcome the Move
Business organizations responded positively to the announcement while emphasizing the importance of implementation.
The New Jersey Chamber of Commerce welcomed the administration’s commitment to improving the state’s competitiveness and said it looks forward to working with officials to produce measurable results.
Business leaders have repeatedly raised concerns about New Jersey’s operating costs and regulatory environment.
According to the New Jersey Monitor, the state ranked last for business friendliness and 31st overall in CNBC’s most recent state business rankings.
At a news conference in Trenton, Sherrill emphasized the need to make New Jersey a more attractive place for companies considering new investments.
What Happens Next?
The executive order establishes a series of deadlines, ranging from 90 to 150 days, for state agencies to develop recommendations and implementation plans.
Officials are expected to track results using measures such as job creation, wages, new business formation and private investment.
The larger question is how quickly those recommendations will translate into actual changes for business owners.
For now, the order marks the beginning of a coordinated economic development effort rather than the immediate introduction of new tax cuts or financial incentives.
Sources: New Jersey Governor’s Office, November 10, 2026; Executive Order No. 28; New Jersey Monitor, November 10, 2026; New Jersey Economic Development Authority.
By NJ RADAR Team