Gov. Murphy Announces Major Economic Plan for New Jersey

 – October 1, 2018
Gov. Murphy Announces Major Economic Plan for New Jersey

Gov. Phil Murphy said today his new economic plan will dramatically boost the state's job-creation rate in coming years, laying down specific markers by which to measure success by 2025. The governor said he has five goals that he wants to achieve.

  1. New Jersey's economy will lead its peer northeastern states in job growth, creating 300,000 new jobs.
  2. New Jersey will lead its peer states in median wage growth by focusing on high-growth, high-wage sectors. Murphy aims to increase median wages by $1,500 on average, or approximately 4 percent.
  3. Diversify the workforce by adding approximately 40,000 more women and minorities in STEM-related jobs. In doing so, the state aims to double venture capital investment, adding more than $625 million annually.
  4. Murphy says he'll close gender and racial employment and wage gaps by increasing annual wages for women and minorities by at least $15,000.
  5. "Meaningfully" reduce the urban poverty rate by expanding workforce development programs, community partnerships, and focused business incentives.

Read the full economic plan here or read a summary on ROI-NJ.