Business News · economic roadkill anytime soon.” Economic bubbles can have “long-term...
Transcript of Business News · economic roadkill anytime soon.” Economic bubbles can have “long-term...
This article was reprinted from TAP intoFlemington/Raritan with theirpermission.
By: Curtis Leeds
READINGTON, NJ – Hunterdon, asthe rest of the nation, is undergoing“long-term structural changes anddisruptions” that, working in tandem,may result in Hunterdon being home tothe “not yet wed, and the nearly dead.”
That’s what James Hughes told agroup of business and elected leadersyesterday at a conference sponsoredby Hunterdon’s Chamber ofCommerce.
Hughes, an East Amwell resident, isthe dean of the Edward J. BlousteinSchool of Planning and Public Policy atRutgers. An author of more than 30books, he’s widely recognized as anexpert on demographics, housing, andregional economics.
The changes are the result oftechnology and the cyclical nature ofeconomics, Hughes said.
“We’ve been on a wild ride on theeconomic roller coaster for the past 17years,” he told the group which met atthe Stanton Ridge clubhouse inReadington.
“America entered the 21st century atthe tail-end of what we now call thegreat trans-millennial economicexpansion,” Hughes said. What beganin March 1991 ended in March 2001,he said, making it “the longestexpansion in the nation’s history – a full10 years.”
The period was “an extended periodof robust economic growth, a decadeof prosperity for New Jersey andHunterdon.”
The bad news is that the second halfof the expansion was actually “fueledby a high technology dot-com bubblethat ultimately caused its demise ... butyou never know you’re in a bubbleeconomy until it bursts.” In theaftermath, the stock market “lost $5trillion down the drain.”
The eight-month recession thatfollowed was cut short by“extraordinary actions taken by theFederal Reserve,” Hughes said, andthat helped create what he called an“unprecedented housing bubble.”
America’s homeownership rate had
soared from its historic 64 percent rateto 69 percent. Then, the “great housingbubble burst .. as the Great Recessionunfolded.” The home ownership rate is63 percent now, the lowest it’s been in51 years.
“Housing reality in New Jersey hasbeen permanently transformed,”Hughes said, but there’s more to it thanjust those numbers.
The 18-month downturn was theworst downturn since the GreatDepression. When it ended in 2009,8.7 million private sector jobs hadevaporated.
Now, “I think more New Jerseyansbelieve in flying saucers than believeexpansion is deep into its eighth year,”Hughes said. The current cycle is“quite mature and perhaps living onborrowed time,” although Hughesbelieves “the current nationalexpansion will soon be the third-longestin history.” He said this year will be oneof “substantial economic traction (that)could surprise us on the upside.
While bucking-bronco growth is not
Business NewsMarch 2017 Volume 41, No. 3
A L e g A c y o f L e A d e r s h i p s i n c e 1 9 1 6 . . .
Chamber Hosts Economic Forecast Luncehon
'Sprawl Withdrawal' a Challenge for Hunterdon, Expert Says
Hunterdon County
CHamber of CommerCe
The Voice of Business
in the cards ... we’re not about to beeconomic roadkill anytime soon.”
Economic bubbles can have “long-term ramifications and disruptions,”Hughes explained, and the “lingeringeffect of the housing bust and creditcrisis is the greatest home-ownershipcorrection in the nation’s history.”
That bust has hit many millennials,who Hughes said face “significantdifficulties in the housing market.”
Statistics show a record number ofadult millennial children – who arebetween 18-and 34 years old – arenow living with their parents, with 34percent nationally still at home,Hughes said.
In New Jersey, those numbers areeven higher, with 47 percent ofmillennials living with their parents –the highest in the country. And in theGarden State, Hunterdon leads theway: 61 percent of millennials areliving with a parent, Hughes said.
Yet, “Millennials now rule,” Hughessaid, because of “the greatest agestructure age transformation inhistory.” Those born between 1980and 2000 have already supplantedbaby boomers as largest sector ofAmerica’s workforce, and they are an
“urban-centric generation.”
“While their parents couldn’t wait toget out of industrial Jersey City andmove to Hunterdon County,” Hughesobserved, “millennials can’t wait to getback to post-industrial Jersey City.” Hecalled the pattern “sprawl-withdrawal,”as millennials shift from places likeHunterdon County to those such asHudson County and New York City.
Will Hunterdon be attractive tomillennials in the future? As millennialshave changed job patterns andpopulation patterns, Hughes asked,“Will their preferences change? That’sa key question that remains to beanswered.
“My forecast? Yes, that’s going tohappen,” Hughes said. “We don’tknow the magnitude of it.”
But if they do come to Hunterdon,they will want the “experientialenvironments,” that they favor, not thestandard suburb. That, Hughes said,will create “ a new opportunity forHunterdon.”
Huighes said that what the futureholds can’t be foreseen because it willlikely be driven, at least in part, bytechnology that is only just nowdeveloping, or that may not yet havebeen invented.
For example, things such asartificial intelligence and autonomousvehicles could influence the future.Perhaps, Hughes muses, millennialswill commute from Hunterdon toJersey City in their self-driving cars.
908.782.7115 • www.hunterdonchamber.org 2
is a publication of the HunterdonCounty Chamber of Commerce ©2016
Chris Phelan, editorAmanda Dos Santos, layout and design
Good Impressions, printer
For information contact us by phone:
908-782-7115fax: 908-782-7283
to advertise call 908-735-7309 e-mail: [email protected]
Website: www.hunterdonchamber.org
Hunterdon County Chamber of Commerce119 Main Street
Flemington, NJ 08822
WANTEDScrap Gold • Coins • American
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Business News
Continued - Economic Forecast Luncheon
HuNterDoN CouNty CHAMber oF CoMMerCe
boArD oF DIreCtorS
PreSIDeNt, Ceo
Christopher J. Phelan
oFFICerS
ChairMichelle L. Heide, CFP®, CrPC®
Patton, Heide & Associates
1st Vice ChairmanJames robinsonColdwell Banker
2nd Vice Chairman Mary MelfiCounty Clerk
SecretaryChristopher J. Phelan
Hunterdon County Chamber of Commerce
treasurerAna P. Kaplun
ExxonMobil Research & Engineering Company
Legal CounselNicholas Pellitta, esq.
Norris, McLaughlin & Marcus, P.A.
Advocacy Chair William Flahive, esq.
Law Office of William P. Flahive, L.L.C.
Advancing Hunterdon ChairJohn Anderson
Jersey Central Power & Light
Chairman emeritusDonald Pinner
Hunterdon Healthcare System
DIreCtorS
Jacki belinRaritan Valley Community College
robert benjaminFlemington Fur Company
Andrea bishopPNC Bank
bruce blackHunterdon County YMCA
Joseph Carducci, CPABedard, Kurowicki & Co., CPA’s
John CesareCenturyLink
George DitzlerTeamLink HR
richard FarrellCedar Risk Management
Jim GanoCrown Trophy
Paul GrzellaCourier News/Home News Tribune
Suzanne LagayHunterdon County Board of Chosen Freeholders
Kim MetzHunterdon County Polytech
ryan reepChick-fil-A
Jeffrey WeinsteinHunterdon Healthcare, LLC
DJ WrightWright & Ford Funeral Home and Cremation Services
908.782.7115 • www.hunterdonchamber.org 3
ELC Breakfast
JOHN E. LANZAHunterdon County
FreeholderJohn E. Lanza has been a practicing
attorney since 2001 and has worked with his
family’s Flemington-based law firm, Lanza &
Lanza LLP, since its founding in 2005. He is a
lifetime resident of Hunterdon County and currently lives with his wife, Kyra,
and son, Mark, in the City of Lambertville.
Mr. Lanza earned a political science degree from Boston College in 1998
and graduated cum laude from Seton Hall University School of Law in 2001.
He is admitted to practice in New Jersey (2001) and the District of Columbia
(2012). Mr. Lanza specializes in estate matters, including planning,
administration and litigation. In addition to his private practice, Mr. Lanza
serves as an alternate municipal prosecutor for the Borough of South
Plainfield, Township of Piscataway and City of South Amboy.
Mr. Lanza was first elected to the Board of Chosen Freeholders in 2013 in
his first bid for public office.
Join us for our Employer Legislative Committee Breakfastin partnership with the New Jersey Business & Industry
Association. Our guest speaker is going to be HunterdonCounty Freeholder Director John Lanza
Date: March 22ndTime: 8:00 AM
Location:Beaver Brook Country Club
$25 Chamber & NJBIA Members $30 Non-Members
908.782.7115 • www.hunterdonchamber.org 4
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Jim Gano and his team atCrown Trophy of Flemingtonhosted another successful SuperBowl Tailgate Card Club thispast February. From guessingthis year's winning team to thetrophy building contest to thestep and repeat with the famousSuperbowl trophy--everyone hada great time and definitelydemonstrated their team spirit.
Pictured left to right: PollyAnderson of Choices forSeniors, Pat Smits of LawOffices of Patricia Garity Smits,and Robert Czaskos of WeichertRealtors.
The Leadership Class of 2017 immersed themselves into hearing the challenges and successes ofbeing a part of the backbone of our local economy. A BIG Thank you to Wright & Ford Family FuneralHome and Cremation Services, Chick-fil-A Flemington, Skunktown Distillery and MSI Plumbing andRemodeling for sharing their entrepreneurial stories.
We are now accepting applications for our 2018 Leadership Hunterdon Program
For more details, please call: 908-782-7115
The vision of Leadership Hunterdon is to transform people to become trustees of our communities, to become leadership resources and work for the betterment of Hunterdon County.
Would you like to develop your leadership skills?
Would you like to meet key business, education & non-profit leadership?
The Next Information Sessions will take place on April 4th & 27th from 8:30-9:30a.m.
908.782.7115 • www.hunterdonchamber.org 5
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Hunterdon County EconomicDevelopment, Hunterdon CountyChamber of Commerce, andFlemington Community Partnershipare partnering to host HunterdonCounty’s first ever hackathon,HackHunterdon. The 24-hourmarathon tech product creationcompetition will take place on April 28-29 at the Feed Mill Station inFlemington, NJ.
“HackHunterdon’s hackathon is aprimary piece of a collaborative, long-term effort to encourage small businessand innovation growth in HunterdonCounty,” said Hunterdon CountyChamber of Commerce President ChrisPhelan.
The list of HackHunterdon sponsors isgrowing, including Flemingtoncompanies Bond Andiola & Company,ArtCraft Health, Hunterdon technologycompany Integrated Clinical Systems,Shoprite, and New Jersey Tech
Council. “Momentum is building inHunterdon County to spur growth in thetechnology sector, and it starts righthere in Flemington,” said JudyGoodwin, Executive Director ofFlemington Community Partnership. The HackHunterdon meetup is held onthe last Thursday of every month atLone Eagle Brewing in Flemington at7pm.
“HackHunterdon will serve as anopportunity for our local tech talent tocollaborate on new business ideas and
potentially tackle interesting problemsin a unique way,” said Phelan.
The event will host 50 - 100technologists overnight at the Feed MillStation with free food, swag,workshops, games, and prizes.HackHunterdon invites you to build acool, new project, connect with fellowhackers, learn, experiment, and beinspired.
Applications to participate haverecently been posted onHackHunterdon’s website,hackhunterdon.com. Organizersencourage Hunterdon County’ssoftware developers, UI/UX designers,and product types to apply.Professionals and computer sciencestudents (college or graduate) in andaround the county are welcome.
More information can be found atHackHunterdon.com, or by [email protected].
Hunterdon County’s Inaugural Hackathon Ignites Technology Growth
908.782.7115 • www.hunterdonchamber.org 6
Date: Wednesday, April 19th
Time: 7:45 a.m.registration8:00 -9:00 a.m. program
14-B Royal Road
Flemington, NJ
Date: Wednesday, April 5th
Time: 7:45 AM registration8:00 - 9:00 AM program
111 West Main Street
Clinton, NJ
Leads Exchange CentralLeads Exchange North
Led byTom Fitzgerald
Led byJudy Gold
Develop the business relationships that can improve your bottom line. Network,exchange business cards and present your business to other Chamber members.
Admission is included in your Chamber membership.
The Hunterdon CountyChamber of Commerce issponsoring its 8th annualWomen’s Business Summit tobe held on Tuesday, April 25th from8:00am to 2:00pm at Hawk Pointe GolfClub.
This year’s theme is “Moving WomenForward in Business”. Our afternoonkeynote speaker will be Ms. KathleenMc Quiggan, a Senior Consultant to thePax World Global Women’s EqualityFund. Ms. McQuiggan is responsible forthe gender initiatives at Pax World,including managing the firm’s efforts ongender equality as an investmentconcept and for leading the sales andmarketing efforts of the GlobalWomen’s Equality Fund. Kathleen is along-time activist for women’s issues inbusiness.
Our Women’s Business Forumcommittee is presently planning some
highly informative breakout sessions forthis year’s Summit that will cover topicslike professional development,community leadership roles, plus muchmore.
We thank our Presenting Sponsor,Patton, Heide & Associates for thecontinued support of the Women’sBusiness Summit; our SupportingSponsors, Hunterdon RadiologicalAssociates and College, Career & Life,LLC; Event Branding Sponsor, DigitalArts; Contributing Sponsor, RaritanValley Community College; and ourScholarship Sponsor, MSI Plumbing.
Through our Scholarship Sponsor,MSI Plumbing, we are able to offer upto 10 scholarships to individualsinterested in attending the summit. If
you would like criteria to qualify toapply for a scholarship, pleasecontact the chamber office.For more information or to
register, visit www.hunterdon-chamber.org. The fee for the Summit is$80 for Chamber Members and $95 fornon-members. Breakfast and lunch willbe provided.
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908.782.7115 • www.hunterdonchamber.org 7
The Hunterdon County Chamberof Commerce is proud to hold its 4thAnnual Hunterdon CountyCommunity Day on Saturday, June3rd from 11:00 a.m. to 4:00 p.m. atthe South County Park-HunterdonCounty Fairgrounds, located onRoute 173 in Ringoes. Admission isfree to attend and it will take placerain or shine.
From local businesses to non-profit organizations to our 26municipalities, we are ready tocelebrate everything Hunterdon onJune 4th. Back by popular demand,Michael Shwedick’s Reptile Worldwill be holding three live reptile
shows throughout the afternoon. This festive event will also include apetting zoo, pony rides, children'sgames, demonstrations from localbusinesses and organizations,tethered rides on the Unity BankBalloon, food, music and much more.
Businesses and organizations areencouraged to be a part of thisexciting event, which provides aperfect platform for them to introducetheir products/services to localconsumers.Spots for businesses andfood vendors are available for $200and non-profit vendors for $100.
Also, be sure to inquire aboutour sponsorship opportunities for thisfestive event that attracts over 3,000attendees. For more information,please call the Chamber at 908-782-7115.
Connect with Your Community!
Help us Preserve theReading-Large
House
Purchase a Limited Edition Print by local artist Paul Jennis.
Only 100 signed and numbered prints available.
Silver framed limited edition printby Paul Jennis for $395.
Gold framed limited edition printby Paul Jennis for $395.
Call the Hunterdon Chamber for more details: 908-782-7115
908.782.7115 • www.hunterdonchamber.org 8
NAMI Hunterdon is theHunterdon County affiliate of theNational Alliance on Mental Illness.NAMI is the largest grass-roots,vounteer-based organization offamilies dedicated to improving thelives all those affected by mentalillness.
In 2011, NAMI lauched "MentalHealth Matters,” an Internet basedradio show with host LarryCartwright, on Hunterdon ChamberRadio. In 2014, this weeklybroadcast recevied anAmbassador Award from the NJGovernor's Council on MentalHealth Stigma for bringingawareness to mental healthissues. Larry is dedicated toeducating listeners on a variety ofmental health topics. You can tunein to “Mental HealthMatters” everyMonday at 2p.m. on HunterdonChamber Radio.
Lauren Feliciano host of “La SaludMental Importa” with Larry Cartwright,host of “Mental Health Matters”. Both
NAMI sponsored radio shows onHunterdon Chamber Radio.
This past February, NAMIlaunched “La Salud MentalImporta”with Lauren Feliciano.During this program, which takesplace every Tuesday at noon,Lauren discusses the latest newsand topics on mental health topicsthat impact Latino community.
According to NAMI’s website, as acommunity, Latinos are less likelyto seek mental health treatment. A2001 Surgeon General’s reportfound that only 20% of Latinos withsymptoms of a psychologicaldisorder talk to a doctor about theirconcerns. Only 10% contact amental health specialist. Yet,without treatment, certain mentalhealth conditions can worsen andbecome disabling.
If you are interested in being aguest on either radio show, pleasecontact NAMI at 908-782-0500.
NAMI Launches “La Salud Mental Importa”
Hunterdon Chamber Radio’s First Spanish-Speaking Show
HUNTERDON HEALTHCARE WELCOMES
HOWARD GARSON, M.D.Board Certified Gastroenterologist
To schedule an appointment, call 908-788-4022.
Most insurance plans accepted
Hunterdon Doctor’s Office Building1100 Wescott Drive, Suite 304, Flemington
Clinton Health Campus1738 Route 31 North, Suite 108, Clinton
Joining Jeffrey Hartford, M.D., Dr. Garson received his medical degree from the State University of New York Downstate Medical Center. He completed his residency from Long Island Jewish Medical Center and his Fellowship in Gastroenterology from Albany Medical College.
HunterdonHealthcare.org/AdvancedGastro
ADVANCED GASTROENTEROLOGY AND NUTRITIONTreating a Full Spectrum of Digestive Tract, Liver and Pancreas Disorders:
• Colon Cancer Screening & Polyp Surveillance
• Stomach Ulcers• Gastro Intestinal Bleeding• Gallstones
• Pancreas & Biliary disease• Colitis • Liver Disease • Stomach and Rectal Bleeding
Your full circle of care.
908.782.7115 • www.hunterdonchamber.org 9
Ameriprise Financial cannot guarantee future �nancial results. The initial consultation provides an overview of �nancial planning concepts. You will not receive written analysis and/or recommendations.Investment advisory products and services are made available through Ameriprise Financial Services, Inc., a registered investment adviser. Ameriprise Financial Services, Inc. Member FINRA and SIPC.© 2016 Ameriprise Financial, Inc. All rights reserved. (8/16)
Call me today at 908.713.6600 for a complimentary initial 30-minute consultation.
Putting the needs of my clients first is the approach I believe in. I’ll work with you to find the right financial solutions to help you plan for your unique goals. And together, we’ll track your progress over time, adjusting your plan along the way to help get you where you want to go.
Your personal financial goals deserve a personal approach
Michelle L. Heide, CFP®, CRPC®Private Wealth Advisor CERTIFIED FINANCIAL PLANNER™ practitioner
Patton, Heide & Associates A �nancial advisory practice of Ameriprise Financial Services, Inc. 1318 Route 31 N, 2nd Floor, Annandale, NJ 08801-3136 908.713.6600 [email protected] michelleheide.com CA Insurance #OK51985
new membersMorgan R. Sayre, State Farm100 Reaville Avenue
Flemington, NJ 08822
908-824-7848
Contact:Morgan R. Sayre
At Morgan R. Sayre State Farm, their
mission is to help people manage the
risks of everyday life, recover from the
unexpected and realize their dreams.
They strive to be an available, friendly
source of help when help is needed.
They strive to be your primary resource
for insurance and financial services.
They treat every person as an
individual, understanding their needs
and concerns with respect and integrity
by providing prompt and timely
customer service.
PC Support on Demand81 LaCosta Drive
Annandale, NJ 08801
732-735-5405
Contact:William Vandeveer
PC Support On Demand provides IT
services in the comfort of your own
Home or Small Business, with on-site or
remote access support. They work with
you to develop the skills necessary for
you to be successful at home or in
business. PC Support On Demand
provides in-depth website evaluation,
website rebuild and website
development with technical support for
individuals and small businesses. In
addition, PC Support On Demand
provides consulting services for small
business and individuals who wish to
set-up in home networks. Through
remote capability, PC Support on
Demand is able to provide technical
support directly in your home or
business and on your schedule as
needed.
Green Building Center--NJ51A Bridge StreetLambertville, NJ 08530609-460-4787Contact:Jason Kliwinski
Green Building Center - New Jersey
brings together the most respected
subject matter experts in sustainable
consulting, design, construction,
materials, education & alternate
financing to provide our clients a
convenient, trusted, one-stop location
for all their green building needs. GBC-
NJ was founded by award-winning
architect Jason Kliwinski, AIA, LEED
Fellow and green material specialist
Lia Nielsen, LEED Green Associate in
2010.
Alan L. Harwick, Esq.P.O. Box 483Whitehouse Station, NJ 088891-888-219-4227Contact: Alan L. Harwick, Esq.
908.782.7115 • www.hunterdonchamber.org 10
The Business Hall of Fame has been established by the Foundationto honor past and present business leaders and companies
who have made important contributions to Hunterdon County.
Fall 2017 Ryland Inn
Presenting Sponsor: $5,000(1 available) 10 tickets for the event ($2000 value)
Company logo prominently placed on materials, advertising, website and at venue
Company logo on e-blast(s) to Chamber members regarding the event (2,500 circ.)
Publicity & a profile in the Chamber’s newsletter (2,500 circ.)
Company logo on BHOF traveling kiosk for one year
Secondary Presenting Sponsor: $2,500(1 available) 5 tickets for the event ($1000 value)
Company logo prominently placed on materials, advertising, website and at venue
Company logo in e-blast(s) to Chamber members regarding the event (2,500 circ.)
Publicity & a profile in the Chamber's newsletter (2,500 circ.)
Company logo on BHOF traveling kiosk for one year
Supporting Sponsor: $1,000
2 tickets for the event ($400 value)
Company name placed on materials, advertising, website and at venue
Company name in e-blast(s) to Chamber members regarding the event (2,500 circ.) Company name on BHOF traveling kiosk
Contributing Sponsor: $500
1 tickets for the event ($200 value)
Company name placed on materials, advertising, website and at venue
Company name in e-blast(s) to Chamber members regarding the event (2,500 circ.)
Company name on BHOF traveling kiosk for one year
INDUCTIONCEREMONYINDUCTIONCEREMONY
CategoriesPioneer Award Contemporary Award
Distinguished Leader Spirit of Hunterdon
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INDUCTIONINDUCTIONINDUCTIONCEREMONYCEREMONYCEREMONY
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908.782.7115 • www.hunterdonchamber.org 11
325 W. Washington AveWashington, NJ 07882908-689-3071
www.good-impressions.com
Full Service Printing, Copying & Mailing
UpcomingcArdcLubs
Holiday Inn of ClintonWednesday, March 22nd111 Main StreetClinton
DomAlena’s Monday, April 3rd9-15 Central AvenueFlemington
First BankWednesday, May 10th334 Route 31 North Flemington
Unity BankThursday, June 15th64 Old Highway 22Clinton
Northfield BankThursday, September 28th56 Main StreetFlemington
Anita’s Angels & NorthStarTutorsThursday, October 19th361 Route 31 SouthFlemington
BATTER UP...It is time for some fun!
SWING ON OVER TO CENTRAL AVENUEIN FLEMINGTON ON
April 3rdMONDAY
5:30-7:30PM
for the
“Take Me Out to the Salon” CARD CLUB
From peanuts to Cracker Jacks, there will be some baseball themed snacks and drinks to enjoy, plus attendees will discover the 2017 trends
and styles for hair, nails, makeup, massage and tattoos.This event is complimentary for Chamber and Flemington
Community Partnership Members; $20 for General Admission.
HATS OFF
For the second year in a row, Unity Bankwas presented with the Bronze Awardduring the recent Small BusinessAdministration (SBA) New Jersey DistrictOffice awards reception.
In her fourth year at Polytech, graphicdesign instructor Mrs. Cindy Dailey hasbeen named teacher of the year for the2016-17 school year. Mrs. Dailey hasalways been committed to the growth anddevelopment of her students, and herbody of work is certainly deserving of thisrecognition.
Hance Construction Inc. was awardedHigh Performance Builder for 2016 by
Butler Builders. Arthur Hance, owner ofHCI, was presented with the award atButler’s 2017 Sales Meeting in Atlanta,Georgia.
The Woolverton Inn in Stockton, NJ wasnamed one of the “Top 10 Bed &Breakfasts in the United States” byBedandBreakfast.com.
Students in Polytech's Constructionprogram have been hard at work, teamingup with Hunterdon Centrals High Schooland the Hunterdon County Chambers ofCommerce to complete projects designedto benefit the community while introducingthe students to new concepts and ideas.
Home Instead Senior Care is proud toannounce Certified Home Health Aide,Kimberly Tweed CAREGiver of the Year2016. Kimberly joined our “HISC family”over a year ago. She has a full time job,but she enjoys seniors and was seekingsome part time work. Kim has sharednumerous hours of her evenings andweekends with her Home Instead SeniorCare clients and makes a difference ineach of her client's lives.Joining an elite class of New Jerseycompanies, First Bank has been named
one of NJBIZ’s Fast 50 for its businessgrowth in the past three years.
Timothy M. Hyland, CFP®, CPA andPresident of Stone Hill Financial LLC,was featured as a 2017 Five Star WealthManager℠ in New Jersey Monthlymagazine for the 6th consecutive year –2012, 2013, 2014, 2015, 2016. He is oneof only three 2017 Five Star WealthManagers℠ in Hunterdon County profiledin the prestigious magazine’s Januaryissue.
The Hunterdon County SafeCommunities Coalition received theCoalition of the Year Award from CADCA(Community Anti-Drug Coalitions ofAmerica), the nation’s leading substanceuse prevention organization. The Coalitionof the Year award is part of CADCA’sGOT OUTCOMES! award program,which gives national recognition toexemplary coalitions that have clearlydocumented their impact onpopulation-level substance useoutcomes.
908.782.7115 • www.hunterdonchamber.org 12
fyiRobert P. Wise was re-elected as theChair of the RVCC Board of Trusteesduring the Board's recentreorganization meeting. Gary Hazardwas chosen to continue serving as theVice Chair from Hunterdon County.
Do you have an opening within yourcompany? Join the over 6,200 areaemployers who have posted positionswith RVCC Career Services. TheCollege's free "Lion Job Board"enables employers to post and editjobs and internships and to viewstudent and alumni resumes. Whetheryou are seeking full-time, part-time,salaried or hourly employees orinterns/co-ops, RVCC Career Servicescan help.
Homework Helper is for kids in grades1 through 7 who need someassistance getting their homeworkdone! The program is led by theFamily Success Center’s highschool teen helpers and is held from3:30 to 4:45 pm every Tuesday,
Wednesday and Thursday at the FSC,located at 87 Park Avenue,Flemington.
Hunterdon County VocationalSchool District's Adult & ContinuingEducation is happy to announce thatSalon 31 and Skin Deep Spa will soonbe opening their appointment booksand providing their beauty services ataffordable prices. The school wouldalso like to announce the return of the
popular Tuesday Night Dinner series,run by the adult culinary students.
The professionals of Warner &Company CPA's joined the team atBedard, Kurowicki & Co., CPA's, PC(BKC, CPAs, PC) this past January.The merged firm will be known asBKC, CPAs, PC with offices inFlemington and now also inWoodstown, NJ.
All financial institutions andindividuals that receive over $600of mortgage interest in a calendaryear must issue a Form 1098 tothe mortgage payer. In the past,the only information that wasrequired on Form 1098 was thenames and tax ID numbers of thepayer and recipient and theamount of interest received.However, starting with the 2016Form 1098, there will be threenew informational items that arerequired on Form 1098. Thesenew items are the outstandingmortgage principal balance as ofthe beginning of the tax year, themortgage origination date, andthe address of the property that issecuring the mortgage.
Since 1987, there has been alimitation on the amount of homemortgage interest you arepermitted to deduct. You are onlyallowed to deduct the interest on$1 million of “home acquisitionindebtedness (money borrowedto either buy the residence or tofinance substantial improvementsto the residence) for your primaryresidence, plus one other
secondary residenceon your Schedule A,as an itemizeddeduction (this ruledoes not apply torental properties). Inaddition, you canonly deduct intereston $100,000 of“home equityindebtedness”. IRS defineshome equity indebtedness asmonies borrowed beyond theamount of home acquisitionindebtedness. For example, ifyou refinance your homeacquisition debt to get a lowerinterest rate, but you don’t borrowany more monies, this debt is stillhome acquisition debt, eventhough the financial institution willprobably call the debt homeequity debt. However, if youincreased the size of the originalloan, that excess is home equitydebt for IRS purposes. With thenew Form 1098 disclosures, theIRS can determine if a taxpayer iscorrectly computing theirallowable home mortgage interestdeduction.
Please note that ifyou have either excesshome acquisition debtor home equity debt,and you use that debtto invest in securities orin a business, you willbe able to deduct thatinterest on Schedule Aas investment interest,
subject to net investment incomerestrictions.
Our firm is well positioned tohelp you maximize your itemizeddeductions, in the event of largeamounts of mortgage debt. If youhave any questions, pleasecontact Andrew Ross, CPA ofBKC, CPAs (Bedard, Kurowicki &Co., CPA’s) at [email protected] 908-782-7900, x113, or visit usat www.bkc-cpa.com.
908.782.7115 • www.hunterdonchamber.org 13
taxtidbits
This tax tidbit was provided by
Home Mortgage Interest Information Returns
The Bridgewater-based law firm ofNorris McLaughlin & Marcus, P.A.is pleased to welcome Eric Loi to theFirm. He joins the ExecutiveCompensation and EmployeeBenefits Group as an Associate.
The Bridgewater-based law firm NorrisMcLaughlin & Marcus, P.A., is pleasedto welcome new Counsel John P.Maloney to its Business Law and Mergersand Acquisitions Groups.
As the 100th anniversary of theUnited States’ entry into World War Iapproaches, the Red Mill MuseumVillage will examine ways in whichthe war affected the lives of those athome in New Jersey. A specialexhibit will open to the public thisspring, and the Museum needs yourhelp in gathering artifacts.
Does your nonprofit organizationserve individuals age 65 or better?Would you like to grow your socialmedia audiences? Would you like toincrease awareness for yourmission? I you answered YES to allof these questions then the Home
Instead Senior Care Foundationinvites your nonprofit to participate ina 65-hour, crowd-fundraising eventJuly 11-13, 2017. For moreinformation go to GIVE65.org
Registered Dietitians from the Centerfor Nutrition & Diabetes at HunterdonMedical Center are offering a program topromote weight loss and improve healthwhile limiting carbohydrates. For moredetails, please call Beverley Manganelli,R.D., CDE at 908-237-6920 x7307.
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908.782.7115 • www.hunterdonchamber.org 14
Thank You for your Reinvestment with the Chamber
Mc Donald’s Restaurants
McPherson & Newland Insurance
NORWESCAP
The Office Concepts Group
Patton, Heide & Associates
Provident Bank
Randazzo Line Striping
Rolling Hills Care Center
RTE Enterprises
Shanahan & Voigt, LLC
Somerset Savings Bank
Stanton Ridge Golf & Country Club
Suburban Morris Water Conditioning
TapSnap
The Work-Family Connection
Tirpok Cleaners
Tranquilli Financial Advisor
Unionville Vineyards
United Way of Hunterdon County
Unity Bank
Viking Termite & Pest Control
Wal-Mart Clinton
Wells Fargo Insurance Services
Wiss & Company, LLP
BenefitMall
Fulton Bank of NJ
Gardner Family Chiropractic
Jersey Central Power & Light
Medea Landscape Studio
Merck & Co., Inc.
Stothoff, Samuel Co., Inc.
908.782.7115 • www.hunterdonchamber.org 15
Most people come up with anidea, or they have a passion, andthey decide to turn it into abusiness. The savvy among themcreate a business plan around theiridea or passion. Many get so excitedabout their venture that they createthe product or service first and thentry and find the market. Thisapproach is like swimmingupstream. It can be done but it’s alot harder. They easier way is tolocate a group of people with aproblem and solve for it.
Often finding your target audiencefirst produces a greater return oninvestment. But if you already havea business, what can you do? Youcan reinvent it. The process is notas hard as it sounds, but you haveto let go and leave your comfortzone to provide a more tailoredexperience to your customers.
If you have enough profits andenough work, stop reading now.Otherwise, here are a few ways youcan recreate your existing businessfor greater revenue.
Target Your Ideal Customer andMarket to Them
This is the hardest jump to make,identifying a target market andforsaking all others. The idea thatcustomization, and drilling down toone or two types of customers, willyield you more customers and notless is a bit unnerving at first. Thesecret to this work is to ensure thatyour ideal audience needs you andknows it. If you have to spend a lotof time convincing them of the need,you not only have a marketingcampaign on your hands but aneducational one as well.
Find a segment that has aproblem you can help with. Thenmarket to them by showing how yourservice or product solves theirproblem. Don’t worry that you’re notsolving everyone else’s problem. Ifyou clearly and adequately solvesomeone’s problem, they’ll be back,and they’ll bring their friends.
Transform Your Social MediaNow that you have a target
market, find out where they are on
social and show up. Don’t worryabout other platforms. If they’re notthere, no reason for you to be either.This also means posting the kinds ofposts they are interested in, aboutsubjects that appeal to them. Don’tbe vanilla. Adopt a tone that appealsto your ideal demographic as well. Ifyou don’t know how to do that, thinkabout hiring your ideal customer(from a demographic perspective) todo it for you.
Create Content that AnswersTheir Questions
You know their pain point. Talk toit. Write about it directly, then tacklerelated issues as well. MarcusSheridan was the co-owner of RiverPools, which installed fiberglasspools. He recognized that mostpeople don’t wake up one morning,call a pool company, and ask themto start digging in the afternoon.There’s a lot of research someone isgoing to conduct before they handover $30,000. Because of this hebegan compiling all the questions hereceived from potential customersand created content out of them. Hebuilt a resource library. Not only wasit loved by his customers, butGoogle took a fancy to it too. Soonhe was ranking above all of hiscompetition. All because he listenedto potential customers and gavethem what they needed to make aninformed decision.
Stand OutMaybe you’re thinking that your
customers don’t need any
educating. Maybe you run aboutique. I’d argue there’s stillcontent that could be effective foryou like explaining the differencebetween a “wild” pearl and one thatwas cultivated, but there are otherways to stand out. Gift wrap yourproducts, include a “thank you”message, or place an extra goodieor sample in the bag. These smallgifts are a wonderful way to remainfresh in your customer’s mind.
Give Them What They WantThis is perhaps one of the boldest
things you can do once you decideon a target market. Now, think aboutgiving your audience what theywant, even if it changes yourbusiness model. It doesn’t have tobe painful for you and may actuallyintroduce new economies of scale.For instance, there’s a pizza placein Berkeley called the CheeseboardPizza Collective. They make 1 typeof pizza every day, and no, that’snot a typo. One. As in singular, for$20. People line up around the blockto await a slice of the Co-op’sspecialty pizza and because theplace is small, they take their sliceoutside and consume it to the tunesof one of the local bands playingthat evening. These “picnickers” area silent, but powerful, testimonial forthe co-op. The co-op realized theirvegetarian clientele didn’t wantvariety as much as they cravedfarm-fresh gourmet. It’s difficult toprovide farm-fresh in a variety ofoptions, so the restaurant looks atthe freshest ingredients available atthat time and creates a pizza basedon that. Doing so, has made themthe talk of the town.
Who is your ideal customer andwhat are you doing for him or hertoday?
Christina R. Green teaches small
businesses, chambers and associations
how to connect through content. Her
articles have appeared in the Midwest
Society of Association Executives’
Magazine, NTEN.org, AssociationTech,
and Socialfish. She is a regular blogger
at Frankjkenny.com and Memberclicks.
Dare to be Different: 5 Ways to Recreate
Your Business for Greater Revenue
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BusinessWomen’s
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