In his speech, Naroff talked about the key factors that will position the state so that it can be a major player in the world economy, stating that the technical innovation economy, mobile and global economy are the main factors that will drive growth. He also discussed the state’s challenges such as high operation costs and a lack of funding that need to be addressed in order to ensure the state’s capacity to meet the changing demands of the world economy. Despite these issues, Naroff is optimistic that the state is well-positioned for economic growth in a number of ways, including a highly educated and technically trained workforce and companies that have the capacity to be at the leading edge of the growing trends.
Watch Joel Naroff’s full presentation below:
Last May, ESI and Naroff became NJBIA’s Economic Advisors and have since issued monthly economic updates and quarterly reviews on key economic issues that help NJBIA formulate policy and enhance the state’s economy. The reports enable the association to provide timely information on the national and New Jersey economy to its members as well as assure that the association is on the cutting edge of economic issues important to the New Jersey Business community. In addition, ESI and Naroff also provide ongoing data and charts on key New Jersey economic indicators.
Click here to view New Jersey Business’s live blog of the event.