Economic Development

EDA Launches Economist’s Corner Blog

The New Jersey Economic Development Authority (EDA) announced the creation of its new “Economist’s Corner,” which will delve into economic data, policies, and issues impacting New Jersey’s economy. Through bi-monthly blog posts, the Economist’s Corner will provide in-depth analysis of data for non-economists interested in understanding what’s happening in the Garden State. The first post, entitled “The Impact of Small Business on the New Jersey Economy,” is available here:

“Achieving Governor Murphy’s vision for a stronger, fairer New Jersey economy starts with being grounded in the data that reveal the critical trends in our state’s economic activity,” said EDA CEO Tim Sullivan. “The Economist’s Corner will provide clear, relevant information to help people stay informed about the variables that impact businesses of all sizes, students and workers, communities, and the State’s overall economic climate.”

Sullivan added that the Economist’s Corner is an important component of the EDA’s role in supporting Governor Murphy’s plan for a more equitable, inclusive economy, as it will shed light on the ways economic prosperity is distributed and will provide clear, accessible economic analysis that community leaders and business owners can use to implement changes that will drive more sustainable and equitable growth.

The Economist’s Corner is curated by the EDA’s Chief Economist Richard Kasmin.

“Our vision for the EDA’s Economist’s Corner is to offer a deeper dive into issues that will affect the State’s economy in both the near- and long-term,” said Kasmin. “The Economist’s Corner will provide context and common-sense interpretations of the large volume of data, policies, and issues impacting our economy, including labor and workforce issues, inflation, small business and entrepreneurship, and innovation.”

The Economist’s Corner launched today with a post focused on New Jersey’s small business climate, including identifying the percentage of businesses that can be defined as “small” relative to the number of people they employ, and the percentage of income this base of businesses provides.

Kasmin noted that the topic of small business is particularly relevant as we approach Small Business Saturday on November 30th. “The majority of retail businesses rely heavily on the holiday season to make their target numbers for the year,” said Kasmin. “A bustling weekend over Black Friday and Small Business Saturday can be seen as a harbinger of a strong season to come for these businesses, their employees, and the communities they call home.”

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