Jack Ciattarelli has a plan if he wakes up as Governor-elect on November 5th with a Mayor-elect Zohran Mamdani across the Hudson River.
“We’re going to roll out the welcome mat,” Ciattarelli told Standard & Works, eyeing New York City businesses he’d try to poach.
Mamdani’s campaign website details plans to raise New York City’s corporate tax rate from 7.25% to 11.5%, matching New Jersey’s current rate, and raise the minimum wage to $30 per hour by 2030. He also plans to streamline and speed up business permitting, with a focus on small business owners.
“He seems like someone who would be driving business out of New York,” Tom Bracken, President and CEO of the New Jersey State Chamber of Commerce, told Standard & Works.
“We’re right next to New York. This is the most logical destination for those businesses. We have to find a way to attract them, and we can if we want to be that competitive.”
“I do believe New Jersey will benefit,” NJBIA’s Michelle Siekerka told Standard & Works, adding the opportunity extends to talent and workforce.
“I believe we will have more out-migration from New York, and it’s easy to migrate into New Jersey. We just need to give them a welcoming environment.”
Siekera pointed out New York State has been the top in-migrator to New Jersey since COVID.
WHAT S&W IS WATCHING 👀
Jersey City Mayor Steve Fulop was appointed this week as CEO of New York City’s most powerful business group. Fulop is a political veteran who just ran an aggressive, anti-establishment gubernatorial primary bid.
If New Jersey goes on the offensive, Fulop’s Partnership for New York City would likely be facing-off against Choose New Jersey, the state’s well-funded business attraction vehicle launched under Gov. Chris Christie.
