Keeping businesses in New Jersey has been a priority for the Christie administration, which has said tax credits and incentives are crucial to keeping and creating jobs. Sen. Anthony Bucco (R-25) is a business owner who said he would consider taking his company out of the Garden State if he weren’t a senator. He told NJ Today Managing Editor Mike Schneider that being a business person in New Jersey is frustrating because of the abundance of regulations and over taxation.
Bucco said that while he loves New Jersey — where he was born and raised — he is frustrated as a business owner. He said regulations and over taxation are driving many manufacturing businesses out of state. Bucco owns a manufacturing plant in Paterson. He said when he first started out in sales before owning his own business, there were numerous manufacturing companies to call on in New Jersey.
“That has shrunk. I’ve seen the demise and the exoduses of businesses out of the state,” he said.
Bucco said even though Gov. Chris Christie has tried to address the business community through legislation, it has stalled. He said the issue of over-regulation needs to be addressed. “You have federal regulations, you have state regulations governing basically the same thing but you have to jump through hoops for the feds and then you gotta jump through hoops for the state,” he explained.
According to Bucco, the regulations must be streamlined and synchronized so business owners only have one regulation to answer to.
Measures are stalled in the legislature, according to Bucco. He believes part of the reason is because the majority of lawmakers are attorneys and not business owners. “They don’t understand when you’re a business owner and you put that key in the door in the morning — whether one person walks in behind you or 1,000 people walk in behind you — you have to worry about selling your product, getting raw materials to make it, shipping it to the customer who ordered it and hopefully in 30 days get paid for it,” he said. “And when you have regulations that are stymieing you, it makes it very, very difficult.”
Bucco agrees with Christie’s approach to having tax credits and incentives to keep businesses in New Jersey and attract new ones. He praised Lieutenant Gov. Kim Guadagno for her efforts on that front and said he contacts her office whenever he hears of a business owner who is considering relocating.
He said the issues of regulations haven’t been addressed because of the the two different parties in the legislature. But he praised Guadagno’s work with the Red Tape Committee.
“They were looking at regulations, trying to streamline them, trying to eliminate some of them,” Bucco said. “It’d be a hell of a lot easier also if you could do some of these permitting and whatnot online instead of trying to fill out a myriad of paperwork, sending it to Trenton, hoping it’d get back in a reasonable amount of time. Sometimes it seems like a black hole down there where things just fall down.”