Enterprise 1Q 2012

www.njchamber.com

1Q 2012

NEW JERSEY CHAMBER OF COMMERCE

a quarterly focus on the people and the issues that drive New Jersey business

OUR WALK TO WASHINGTONMore than 800 N.J. Business Leaders, 40 Legislators, 25 Reporters and the Nation’s Most Prominent Governor Invade the Nation’s Capitol 2

Photos from New Jersey Chamber’s 100th Birthday Bash Page 18

Also Inside: N.J.’s Health Care Facility Boom (in Strip Malls)What’s Missing from Your Employee Handbook?

N.J. Chamber President Tom Bracken flanked by Chairman Jeff Scheininger and Gov. Chris Christie.

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Focus on:

news06 Meet the Payne Scholars N.J. Chamber’s Talented Up-and-Comers

08 N.J. Chamber of Commerce Foundation - Maintaining New Jersey’s Highly Skilled Workforce

09 NJ Transit Chief: ‘We’re Only As Good As Your Last Ride’

10 The First Two Years of Gov. Christie and the Work of the 214th Legislature

law11 What’s Missing from Your Employee Handbook and Why It’s Important

real estate15 Rehabbing and Rethinking New Jersey’s Transportation System

16 A Real Estate Boom: Health Care Facilities in Strip Malls

17 New State Tax Credit Considered ‘Game-Changer’ by Real Estate Experts

member benefits22 New and Improved - The N.J. Chamber of Commerce Member Directory

tableofcontents

features

04 Message from the President For New Jersey’s Economy, Let’s Double Down

18 Centennial Celebration New Jersey Chamber’s 100th Birthday Party Raises the Roof at The Palace in Somerset

20 News Makers

19

9

cover12 The N.J. Chamber’s 75th Annual Walk to Washington and Congressional Dinner Goes Full Steam Ahead

LEFT: New Jersey Chamber President Tom Bracken walks the train during the 75th annual Walk to Washington.

COVER PHOTOS AND PHOTO AT LEFT BY: Russ DeSantis

4 | 4 |

Gov. Chris Christie captured the attention of employers from coast to coast when he proposed the 10 percent across-the-board income tax reduction during his State of the State address in January. The New Jersey governor was bucking a trend by proposing lower income taxes, while governors in Connecticut, New York and Illinois recently raised taxes, and the California governor is considering a hike.

“Now is the time to double down,” said Christie, who al-ready has made significant progress improving the business climate in the Garden State. “Now is the time to put the foot down harder on the accelerator and make New Jersey greatness a reality again.”

That’s a challenge we all can embrace. What better way to show employers everywhere we mean business than by re-ducing taxes across the board while some of our peer states move in the opposite direction? Further, the move benefits all in New Jersey – employers and employees; students and seniors; and taxpayers in all brackets.

Christie’s goal is not a secret. He wants to create jobs. More jobs would mean more income and more state rev-enue. It means expanding the tax base, not increasing the tax rate. It’s a great way for New Jersey to be a state that leads, not follows, the nation back to prosperity.

To generate jobs, Christie, and the state business com-munity, must compel employers elsewhere to pay attention to New Jersey. Thanks to the governor’s flamboyance and the national stage he commands, employers indeed are pay-ing attention. Christie is also building the confidence of businesses already in New Jersey, encouraging them to ex-pand in our state, which also creates jobs.

Once CEOs look at New Jersey, there is much to like: Our talented workforce, our large and affluent customer base, our access to ports, our good infrastructure and our highly desirable location between Philadelphia and New York City.

Our disadvantage has long been our reputation as a high cost, highly regulated state.

The Christie administration and the Legislature, lead by Senate President Stephen Sweeney and Assembly Speaker

Sheila Oliver, for the past two years have taken steps to re-verse that reputation. Together, our leaders in Trenton have passed consecutive state budgets that reduce spending and do not increase taxes. They achieved long-sought pension and benefits reform; they streamlined the state’s develop-ment offices; and Lt. Gov. Kim Guadagno has been leading an effort to roll back regulations that have been notorious for blocking business expansion.

Just last month, the Legislature passed and the governor signed the Grow New Jersey bill that gives state tax cred-its to companies that make a capital investment of at least $20 million and retain or add a minimum of 100 full-time employees. Real estate experts say these new incentives will trump any other state’s incentive program (see article on page 17).

The changes are paying off.The state gained 41,800 private-sector jobs during the

first 11 months of last year, its best performance since the high-tech bubble ended in 2000.

New Jersey’s auto dealers sold about 430,000 new ve-hicles in 2011, their best year since 2007 – a solid sign that consumer confidence is growing in the Garden State.

Executives are expressing a higher sense of optimism about New Jersey’s economy in 2012, according to recent surveys, including one by the New Jersey Chamber of Com-merce. Just look around. Companies like Asurion, Allergan, Bayer, Campbell’s, Pinnacle Food, MX Solar and Watson Pharmaceuticals have recently chosen to relocate or expand in the Garden State.

That’s why Christie wants to double down.We have a bold governor and we have a strong Legisla-

ture, and both have proven they can collaborate. It is now up to us, the business community, to work with the Christie administration and the Legislature to execute this plan, to help “make New Jersey great again.”

Let’s double down. Let’s hit the gas pedal. Let’s lead the nation. ❖

Thomas A. BrackenPresident and CEO New Jersey Chamber of Commerce

For New Jersey’s Economy, Let’s Double Down

president’s message

BY THOMAS A. BRACKEN

ENTERPRISE 1Q 2012 | 5

216 West State Street Trenton, N.J. 08608 Phone: (609) 989-7888www.njchamber.com

CHAMBER STAFF

Thomas A. BrackenPresident and CEO

Dana EgreczkySenior Vice President,Workforce Development

Michael EgentonSenior Vice President,Government Relations

Alfonso RomeoDirector of Member Services

Ray ZardettoDirector of Communications

Scott GoldsteinCommunications Manager and Enterprise Editor

Ric PrincipatoInteractive Designer

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merce Staff

NJCC Board of Director Officers

ChairmanJeffrey C. ScheiningerPresidentFlexline/U.S. Brass and Copper Corp.

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focus on news

6 |

Get to know Elizabeth Browder, 22, and Abideen Onigbanjo, 27. They joined the New Jersey Chamber of Commerce’s Government Relations Department in October and make up the inaugural class of Payne Scholars, 12-month, paid fellowships at the N.J. Chamber.

Meet the Payne Scholars N.J. Chamber’s Talented Up-and-Comers

The program honors the late Bill Payne, who worked at the State Cham-ber for 27 years, and is the brainchild of Jeff Scheininger, the N.J. Chamber’s Chairman of the Board. “The Payne Scholars program brings some new perspectives to our staff and gives gift-ed young people a unique experience,” Scheininger said. “Further, it’s a won-derful way to pay tribute to a long-time Chamber executive.”

It soon became clear to us at the Chamber that Lizzie and Abideen are bright and hard working team players. But enough about what we think. Here is more info about our Payne Scholars from the scholars themselves:

Elizabeth Browder

Age: 22

Birthplace: Phoenix

Home: I grew up in Munster, Indiana; I spent my undergraduate years in Chi-cago; and now I call New Brunswick home.

College and major: B.A. in Interna-tional Studies and B.A. in Geography from DePaul University, 2011, and I am currently working toward a master’s in City and Regional Planning at Rutgers’ Bloustein School.

Favorite meal: Anything at Tumulty’s in New Brunswick. It has excellent food and I love that it is a family owned and operated business.

Favorite movie: It’s a Wonderful Life.

Favorite book: Anything by Hemingway.

Best vacation: Visiting Chicago over the holidays to see family and friends.

Your favorite thing about New Jersey: The shore, especially the port cities along the Hudson.

One thing you would change about New Jersey: I would restore Trenton. It has tremendous infrastructure, history and opportunities. I hope to see it recapture status as a top city in the future.

Your first job and what you learned: I worked for Chicago’s Department of Zoning and Land Use Planning. I learned how vital a strong education is for working as a public servant and how local government has the power to vastly improve quality of life for its resi-dents.

Your favorite accomplishment in life so far: Moving to New Jersey and attend-ing Rutgers.

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Elizabeth Browder’s favorite thing about New Jersey is its coastline, especially the port cities along the Hudson.

PHOTO BY: Ric Principato

Career goal: To work as a planner that focuses on waterfront develop-ment in an urban area because I love cities and waterways fascinate me.

Who is your role model and why: Personally, my parents. Professional-ly, Amanda Burden, because she has led projects that enhance New York City’s landscape.

Best part of working for the Cham-ber: Every event or task is a learn-ing opportunity. I love the challenge to constantly think, reflect and grow.

Something about the State House that surprised you: Its beauty and historic value.

Abideen Onigbanjo

Age: 27

Birthplace: Greenville, Texas. My family relocated to New Jersey the summer of 1990. Prior to moving to New Jersey, we lived in Boston and Lagos, Nigeria.

Home: Trenton

College and major: The College of New Jersey, B.S., 2007; The College of William & Mary, MBA, 2011; The College of William & Mary, J.D., 2011.

Favorite meal: Grilled Chicken Ver-micelli Bowl.

Favorite movies: Gladiator. In the movie, Maximus says: “What we do in life echoes in eternity.” I firmly be-lieve what I do today impacts tomor-row. I also love American Gangster. One line in the movie pushes me to work harder: “The most important things in business are honesty, integ-rity, hard work, family and never for-getting where we came from.”

Favorite books: The Four Agree-ments. This book has assisted my personal growth. The four agree-ments are: be impeccable with your word; do not take anything person-ally; do not make assumptions; and always do your best. Also, 1984. I like George Orwell’s characterization of common human experiences; for ex-ample, the way he describes “double-think.”

Best vacation: Lagos, Nigeria. Every day, I woke up to palm trees and pea-cocks, traveled to different villages, and met extended family.

Your favorite thing about New Jer-sey: New Jerseyans. We all share a common love for New Jersey and we are all proud to be from New Jersey.

One thing you would change about New Jersey: I would extend the New Jersey borders into Pennsylvania and New York. New Jersey is great. Why not make it bigger?

Your first job and what you learned: I took a job as a salesman in a shoe store in order to earn money for the prom. The overall experience taught me the importance of saving money. I earmarked a certain amount for the prom with the intentions of spend-ing less. I used whatever was left to prepare for college.

Your favorite accomplishment in life so far: Passing the New Jersey Bar.

Career goal and why: Practice law or work in consulting. I like finding so-lutions to complex problems.

Who is your role model and why: My parents. They are extremely humble, encouraging and inspiring.

Best part of working for the Cham-ber: Coming to work, I enjoy

advocating for the business commu-nity within the State of New Jersey. In addition, I value the positive atti-tudes and encouraging personalities of the Chamber staff.

Something about the State House that surprised you: Everyone eats lunch together in the State House Café. ❖

Abideen Onigbanjo is moved by the quote, “What we do in life echoes in eternity.”

PHOTO BY: Ric Principato


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A job opening in today’s economy can yield a stack of resumes, but who can guarantee the applicants are qualified, or even close? The New Jersey Chamber of Commerce Foundation’s goal is to increase employers’ chances of attracting solid candidates by increasing the number of highly-skilled workers in the Garden State.

N.J. Chamber of Commerce FoundationMAINTAINING NEW JERSEY’S HIGHLY SKILLED WORKFORCE

“We’re working to ensure that business own-ers across the state have the workforce they need, both now and in the future,” states Dana Egrec-zky, Foundation president.

The Foundation, established by the N.J. Cham-ber in 1996, focuses on improving the workforce readiness curriculum in kindergarten through high school; increasing employment opportuni-ties for qualified people with disabilities; and stemming the shortage of nurses and nursing fa-cilities in New Jersey.

With the support of New Jersey businesses, the Foundation is also involved in the advocacy and policy work that will produce a New Jersey workforce that can thrive in an increasingly com-petitive economy.

The Foundation also goes directly to the stu-dents. Its LearnDoEarn program (Learn More Now, Do More Now, Earn More Later) has pro-vided a free curriculum to 350 participating schools, and produces events like week-long summer workshops, after-school workshops and day-school workshops that give students a real-life look at the business community and help them prepare for college, careers and life.

The goal is to get students more career-mind-ed, and it’s working. In the participating schools, there has been a 250 percent increase in students enrolling in physics courses and a 33 percent in-crease in students enrolling in chemistry courses.

Meanwhile, the Foundation’s Disabilities at Work program “acknowledges and celebrates businesses that go beyond compliance in re-cruiting qualified people with disabilities,” says Egreczky. Thirty-six companies, ranging from small mom-and-pops to large international com-panies, have been recognized on its first National Honor Roll.

Most recently, the Chamber Foundation has partnered with the Robert Wood Johnson Foun-dation to address the anticipated nursing short-age in New Jersey by increasing the number of faculty members in the state’s nursing schools. The Foundation aims to recruit, train and gradu-ate 62 new faculty members for New Jersey uni-versities and colleges, which in turn, will increase the number of nursing students those schools can enroll and graduate.

The Foundation “welcomes and needs involve-ment from businesses across New Jersey,” no matter their size, to support its initiatives, says Egreczky. It is in everyone’s interest for New Jer-sey to maintain a highly skilled workforce, she said, so we can thrive in the 21st century. ❖

For more information on the New Jersey Chamber Foundation and how you can help, visit www.njchamber.com/foundation.asp.

focus on news

At the N.J. Chamber Foundation’s Business Simulation Camps last summer, students broke into small teams and were asked to launch and manage their own companies in a competitive real-world situation. The goal is to get students more career-minded, and it’s working. In the participating schools, there has been a 250 percent increase in students enrolling in physics courses and a 33 percent increase in students enrolling in chemistry courses.

NJ Transit Chief: ‘We’re Only As Good As Your Last Ride’NEW JERSEY CHAMBER OF COMMERCE BREAKFAST SERIES

“We frankly are only as good as your last bus or train ride,” said James Weinstein, executive director of NJ Transit, at a Dec.16 round-table breakfast in Monroe present-ed by the New Jersey Chamber of Commerce.

The bottom line: Despite its problems, about two-thirds of NJ Transit riders would recommend the service.

That event was part of the New Jersey Chamber of Commerce’s on-going breakfast roundtable series, during which members gain access to top state officials for causal and wide-ranging question and answer sessions.

Weinstein announced other news at the breakfast: He said the transit agency recently gained a vital ap-proval from federal regulators to extend the Hudson-Bergen Light Rail line, and it is teaming with the Delaware River Port Authority to extend the River Line light rail line, which currently runs from Trenton to Camden, down to Glassboro in Gloucester County.

“The Hudson-Bergen light rail is the shining example of what tran-sit investment can do for a region because of the amount of jobs and economic value that it has created,” Weinstein said.

Also presenting at the breakfast was John Matheussen, CEO of the

Delaware River Port Authority. He talked about upgrading train cars and rebuilding bridges, as well as better connecting Philadelphia metro area to Atlantic City. The goal, he said, is to “enable the busi-ness community to move product, customers and employees.”

New Legislative Session: Education Reform and Putting People Back to Work

Getting the political parties to work together, reforming education and putting people back to work will be issues headlining the new Legislative session, said Bill Caruso, executive director of the Assembly Democratic Office and Rick Wright, executive director of the Assembly Republican Office.

Caruso and Wright gave New Jersey Chamber of Commerce mem-bers a post-election update at a Nov. 22 N.J. Chamber roundtable breakfast.

Like Gov. Chris Christie, both parties in the Legislature support education reform.

“We have a problem in New Jer-sey – not every kid has the chance to go to a great public school – so we have to look at the alternatives,” Caruso said.

Wright added, “Insanity is do-ing the same thing to see a different result. We have got to do something different; we have got to save kids and give them a fighting chance. Education reform is a start.” ❖

Allison Larkin is operations coordinator, and Elizabeth Browder and Abideen Onigbanjo are Payne Scholars, at the New Jersey Chamber of Commerce.

NJ Transit is going straight to its 500,000 daily riders and asking them to grade its performance and customer service. Not only that, it’s posting the results online.

BY ELIZABETH BROWDER, ALLISON LARKIN AND ABIDEEN ONIGBANJO

Michael Egenton, N.J. Chamber’s senior vice president of government relations.

James Weinstein, NJ Transit executive director.

Networking is a feature at every N.J. Chamber breakfast.

N.J. Spotlight Board Member Ingrid Reed, N.J. Chamber President Tom Bracken and Bill Caruso, executive director of the Assembly Majority Office.


10 |

But there were other moves that also significantly improved New Jer-sey’s business climate. We’re talking about legislation and policy changes that the N.J. Chamber of Commerce fought for and won on behalf of its members.

The governor and the Legislature phased in what tax experts call the “single sales factor allocation formu-la.” Here’s what it means: New Jersey previously considered three factors when determining how much Corpo-ration Business Tax a company must pay: the company’s property, its pay-roll and its sales revenue in N.J. The law change eliminates property and payroll as factors, and bases the Cor-poration Business Tax solely on the company’s sales. Removing property and payroll as factors encourages ex-pansion and job creation.

Another new measure allows business owners who pay their tax-es through the personal income tax (mostly small firms such as S-corpo-rations, LLCs, LLPs, sole proprietor-ships or partnerships) to carry for-ward net operating losses for 20 years, and allows the businesses to offset gains and losses from one category of income to another.

There was a reduction of the min-imum tax paid by S-corporations.

There was a phase-out of the Transitional Energy Facility Assess-ment, a fee for business owners, which will save them $245 million over the three-year phase-out. N.J.’s current energy costs are among the nation’s highest. The phase out will reduce en-ergy costs for all consumers.

The governor and the Legislature broadened the availability of the Busi-ness Retention and Relocation Assis-tance Grant (BRRAG) program, which provides tax credits to businesses that retain jobs in N.J.

A new measure gives companies tax credits of $5,000 annually for 10 years for each full-time job with health benefits they create or retain in New Jersey. This is for companies located in certain parts of the state, including areas around the shuttered Fort Monmouth and near the High-lands, Meadowlands and Pinelands. The employer must produce or retain at least 100 such jobs, and must make a capital investment of at least $20 million. The law also makes improve-ments to existing incentives for com-panies expanding near transit areas.

Another change allows certified businesses in Urban Enterprise Zones to receive sales tax exemptions on their business purchases at the point of sale instead of having to later apply for a re-imbursement.

As already mentioned, the gov-ernor and Legislature passed budgets that reduce spending and achieved pension and health care benefit re-form. Changes include increasing em-ployee contribution rates to pensions; suspending cost-of-living adjustments to retirees; and increasing the amount public employees contribute toward health insurance. This saves taxpayer dollars by reducing the structural def-icits in both local and state budgets.

Looking forwardGoing forward, the N.J. Chamber

of Commerce will support Christie’s proposal for a 10-percent, across-the-board income tax reduction, which will give N.J. an edge over peer states, like New York, that are increasing the income tax.

We will urge the governor and the 215th Legislature to focus on educa-tion reform to strengthen education and maintain N.J.’s talented work-force. The status quo with under-achieving schools is not acceptable.

We will push Trenton to pursue civil service reform, expand pension and benefits reform; limit spending to pro-grams with proven returns like trans-portation infrastructure; and adopt smart policies that encourage job growth and economic development like a permit extension act for build-ing permits soon to expire.

The business community has begun feeling the turnaround in New Jersey. When we lobby at the State House, we aim to keep that momentum going on behalf of our members, and by exten-sion, on behalf of all citizens of New Jersey. ❖

Michael Egenton is senior vice president, gov-ernment relations, and Mary Ellen Peppard is assistant vice president, government relations, at the New Jersey Chamber of Commerce.

The First Two Years of Gov. Christie and the Work of the 214th Legislature

When we look back at the first two years of Gov. Chris Christie and the work of the 214th Legislature, which ended in January, two things stand out: The adoption of pension and benefits reform for government workers, and the passage of consecutive budgets with a reduction in state spending. Those accomplishments rightly garnered the most headlines. They are huge steps toward restoring fiscal sanity in New Jersey and bringing the Garden State’s economy to the next level.

focus on news

BY MICHAEL EGENTON AND MARY ELLEN PEPPARD


THE MANUALEmployment

contract dis-claimer: An em-ployment manual is not an employ-ment contract. This should be clearly stated in large-cap letters in the front of the manual, stipulat-ing that employ-ees are employees at will.

Why it’s often missing: It oc-curs in employee manuals written

by non-attorneys unfamiliar with New Jersey case law.

— W. Raymond Felton, Green-baum, Rowe, Smith & Davis LLP

Acknowledgement of receipt of manual: Get a signed acknowledge-ment for receipt from the employees. In litigation, it is important to be able to prove that employees actually received the handbook.

— Rosemary Alito, partner, K&L Gates LLP

Electronic version disclaimer: Employee handbooks should speci-fy that the electronic version of the handbook is the only up-to-date and authorized version. Hard copies may

be printed out and kept, but may con-tain outdated or superseded policies.

Why it’s often missing: This is a new issue arising from new methods of communication.

— Rosemary Alito

WORKPLACE DISPUTESUpdate anti-harassment policies

to include all categories protected by law: Company anti-harassment poli-cies are often limited to sexual ha-rassment, but they should be regular-ly updated to include other protected categories such as race, age, national origin and disability, among others.

— Christopher Mayer, partner, McCarter & English LLP

Paid time off provisions: While virtually all handbooks inform em-ployees how many vacation/sick/PTO days they are entitled to, many do not explain how paid time off ac-crues, what can be carried over and what will be paid at the time of sepa-ration.

Why it’s often missing: Compa-nies often copy boilerplate policies that are incomplete or make no sense when applied to their workplace.

— Marianne Tolomeo, director, Podvey, Meanor, Catenacci, Hildner, Cocoziello & Chattman P.C.

Revise inflexible medical leave policies: Employers should revise in-flexible medical leave policies that

cut off or cap employees’ unpaid leave after 12 weeks.

Why it’s often missing: Many em-ployers who are covered by the federal Family and Medical Leave Act wrong-ly believe that employees can be let go if they fail to return to work after tak-ing 12 weeks of medical leave under the FMLA.

— Christopher Mayer

COMPANY PROPERTYEmail and Internet use policy: Em-

ployers who want to monitor employ-ee communications and Internet use must clearly advise employees in ad-vance - so the employees do not have an expectation of privacy.

Why it’s often missing: Many em-ployers have policies that set only general standards for the use of their technology, and under recent legal de-cisions that is no longer enough.

— Rosemary Alito

INTELLECTUAL PROPERTYWork for hire: Anything created or

invented by employees as part of their job is considered company property.

Why it’s often missing: For newer in-dustries like software design, such poli-cies are a given, but that is not the case for old-line commodity manufacturers.

— W. Raymond Felton

Confidentiality and business ethics requirements: Strong policies prohib-iting employee breaches of confiden-tiality, including disclosures of trade secrets, will help avoid innocent mis-takes, deter intentional violations and assist in the defense or prosecution of litigation.

Why it’s often missing: Some em-ployers publish separate codes of con-duct and omit these topics from the employee handbook.

— Rosemary Alito ❖

What’s Missing from Your Employee Handbook?TOP NEW JERSEY EMPLOYMENT LAWYERS GIVE US THE ANSWERS

We all know that employee handbooks are designed to spell out the rights and responsibilities of employers and employees. But we don’t know if there is something missing in our handbooks and how it may hurt our companies. Enterprise magazine asked several New Jersey-based employment lawyers to name important policies that often are missing – and there was no shortage of answers.

focus on law

BY CHRISTINA P. O’NEILL

ROSEMARY ALITO

W. RAYMOND FELTON

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Assembly Majority Leader Lou Greenwald; Robert Marino, CEO, Horizon Blue Cross Blue Shield of New Jersey; Stephanie Quinn, Horizon Blue Cross Blue Shield of New Jersey; Rep. Leonard Lance; and John Leyman, Horizon Blue Cross Blue Shield of New Jersey.

PHOTOS BY: Russ DeSantis

Ted Zangari, chairman of the Redevelopment Law and Public Policy Group, Sills Cummis & Gross, listens to the governor speak.

Lucia DiNapoli Gibbons, Northern New Jersey Regional President, Wells Fargo.

Kevin Luing, chairman, Berkley College; Howard Cohen, chairman, EisnerAmper; Linda Bowden, regional president, PNC Bank Northern New Jersey; and Peter Hovnanian, principal, J.S. Hovnanian & Sons.

Gov. Chris Christie, flanked by New Jersey Chamber of Commerce Chairman Jeff Scheininger (left) and Chamber President Tom Bracken.

Gov. Chris Christie and Jeff Scheininger, president, Flexline U.S. Brass & Copper Corporation.

Ebony Yeboah, FirstEnergy; Mike Dowling, FirstEnergy; Ruthi Byrne, president, Zinn Graves & Field; and Don Lynch, president, Jersey Central Power & Light.

William Johnston, Capital One Bank; Howard Cohen, chairman, EisnerAmper; Kathleen Regan, Capital One Bank; Richard Debel, Bank of America New Jersey; and Bob Doherty, Bank of America New Jersey.

Missy Rebovich of the New Jersey Lawsuit Reform Alliance.

The Star-Ledger called it “A time-honored exercise in extreme networking.”

It was the New Jersey Chamber of Commerce’s 75th Annual Walk to Washington and Congressional Dinner, which, on Jan. 26 and 27, brought to Washington a who’s who of New Jersey business and gov-ernment leaders for networking and discussing important business issues.

The festivities began as the Chamber’s chartered Amtrak train rolled through New Jersey, picking up hundreds of guests along the way. The trip hit a crescendo when the train reached the nation’s capital and more than 800 guests gathered at the Marriott Wardman Park for the Congressional Dinner and a key-note address by Gov. Chris Christie.

“The year really does not begin until the Chamber dinner in Washington, when we gather together to review the last year, and to look ahead, hopefully – at least now – with promise to what New Jersey’s future can once again be,” Christie said in his ad-dress.

The activities in Washington included an exhibit by the New Jersey Hall of Fame; music by New Jersey artists; and an insight-ful reporters’ roundtable with some of the state’s top journalists.

A special thanks to our guests: Representatives Chris Smith, Rodney Frelinghuysen and Leonard Lance; our state legislators; and Christie and his cabinet members for attending. And to our


‘THE YEAR DOES NOT BEGIN UNTIL THE CHAMBER DINNER IN WASHINGTON,’ SAYS GOV. CHRIS CHRISTIE

THE N.J. CHAMBER’S 75TH ANNUAL WALK TO WASHINGTON AND CONGRESSIONAL DINNER

Edward Forte, BELFOR USA, and Peter Hovnanian, principal, J.S. Hovnanian & Sons.

Howard Cohen, chairman, EisnerAmper, and Peter Mangin, president, Garden State Development.

Chamber President Tom Bracken during a light moment at the Congressional Dinner.

GOES FULL STEAM AHEAD

BY SCOTT GOLDSTEIN

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Larry Krampf, CEO, Marke Communications, arrives at Union Station, Washington, D.C.

NJTV’s Michael Aron, AP’s Beth DeFalco, The Star-Ledger’s Matt Friedman, The Philadelphia Inquirer’s Matt Katz, and The Record’s Herb Jackson at a N.J. Chamber-sponsored Reporters’ Roundtable in D.C. the morning after the Congressional Dinner.

John Prato, Canadian consulate general, and Jeff Scheininger, chairman of the New Jersey Chamber of Commerce.

Jack Hoffman, director of community relations and operations at Xerox, walks the train.

New Jersey Chamber President Tom Bracken walks the train.

Michael Torpey, former chief of staff to Gov. Christie Whitman, Sen. Joseph Kyrillos (center), and Sen. Minority Leader Tom Kean Jr. (right) on the train.

Ralph LaRossa, president and COO, Public Service Electric & Gas Company.

presenting sponsor, Garden State Development, who helped make the event possible.

The New Jersey Chamber of Commerce invited business people from across the state to ride the Chamber’s train to Washington – where guest walk up and down the aisle mingling and exchanging busi-ness cards – and to attend the Con-gressional Dinner as a way to show support for the state’s pro-growth agenda. ❖

Scott Goldstein is communications manager at the NJ Chamber. For video clips and more photos of the Walk to Washington, go to www.njchamber.com/W2W/2012-full-wrap.asp.


focus on real estate

Rehabbing and Rethinking New Jersey’s Transportation System

Interstate and intrastate commerce depend on transportation systems that move people and goods in a safe, reliable and efficient manner. The New Jersey Department of Transportation is committed to ensuring that the Garden State’s roadways live up to their role as the circulatory system of our region’s economy.

For fiscal year 2012, the New Jersey Transportation Department increased its investment in rehabilitating bridg-es and roads and bridges by nearly 20 percent, and our roadway repaving and reconstruction projects increased by 35 percent.

With that investment, over a 10-year period, we’ll cut the number of deficient bridges in half, and increase the percent-age of our state roadways in acceptable condition to 80 percent from 50 percent.

Our investment extends to NJ TRAN-SIT. We recognize it is critical that our transit system moves people for employ-ment, general travel and recreation – all of which bolsters the economy.

Improving System Performance through Technology

Gone are the days of building our way out of congestion. In a state as densely developed as New Jersey, often the best way to reduce congestion is through the use of technology.

For 2012, we are investigating and implementing intelligent-system initia-tives that:•reducetraveltimes.•optimize traffic signal sequence

along several travel corridors.•collect traffic data, travel times and

speed through Bluetooth technology.

•detectincidentsandmonitortrafficconditions through “smart cameras,” and quickly report results through billboards and our 511 telephone line and website.

Still, there are opportunities to re-duce congestion in traditional ways. Here’s one example: A heavy traffic area got needed relief when we widened the Harrison Street intersection with Route 1 in West Windsor. It provided an addi-tional travel lane that increased access to Route 1 in both directions. And it un-derscores our contribution to economic development as it will serve the new University Medical Center of Princeton at Plainsboro, which opens this spring.

Our goal is to keep residents and their vehicles on the move, and keep economic development moving in the right direction. ❖

BY JAMES S. SIMPSON, COMMISSIONER, NEW JERSEY TRANSPORTATION DEPARTMENT

JAMES S. SIMPSON

A Real Estate Boom: Health Care Facilities in Strip Malls

There’s at least one place where real estate is growing – health care facilities.

And they are popping up in unusual loca-tions like strip malls, where operators of walk-in clinics, fitness centers and physicians can find competitive leases and convenient access to customers.

Use of walk-in clinics in retail locations increased tenfold between 2007 and 2009, according to a 2011 study by the RAND Cor-poration. Another study predicts outpatient services will increase by more than 21 percent from 2009 to 2019, while inpatient services will rise by only 1.7 percent.

A few clear reasons: Baby boomers are reaching retirement age and health care re-form is expected to generate an additional 32 million insured individuals in the U.S. As a result, health care providers are leasing facili-ties in retail locations to extend market share while providing cost-effective and convenient care. These health care tenants can take ad-vantage of favorable lease rates and terms, since many retail center landlords have been eager to fill vacancies in this difficult economy.

The increased demand for services may make certain health care providers, such as hospital with healthy balance sheets, more credit-worthy tenants than traditional retail business owners – despite the uncertain future

of reimbursements from federal health care programs and private insurers.

A Landlord’s Point of ViewStill, landlords should scrutinize credit

worthiness by evaluating a health care pro-vider’s financial diversity, longevity and con-sistency, as well as its standing with federal health care programs, rating agencies and regulatory boards. They should also consider whether the use meets local zoning, state regu-lations, utility needs and federal health care and privacy laws.

In another strategy, some health care pro-viders are monetizing their real estate port-folio through a sale-leaseback or other joint venture transactions. In a sale-leaseback, the provider sells its property to an investor, which then leases it back to the provider. The provider, as tenant, remains in possession and maintains control over the clinical operations but has additional cash and an improved capi-tal structure.

As the demand for both health care and suitable medical real estate expands, health care executives, developers, commercial land-lords and investors may want to consider whether a retail medical use or a sale-lease-back transaction is a viable strategy to keep pace with the rapid evolution of the health care landscape. ❖

Stephen A. Timoni is a partner, and Daniel A. Suckerman and Dean H. Wang are associates, at the Newark office of K&L Gates, the global law firm.

BY STEPHEN A. TIMONI, DANIEL A. SUCKERMAN AND DEAN H. WANG

STEPHEN A. TIMONI

DANIEL A. SUCKERMAN

DEAN H. WANG

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focus on real estate

Use of walk-in clinics in retail locations increased tenfold between 2007 and 2009, according to a 2011 study by the RAND Corporation.


New State Tax Credit Considered ‘Game-Changer’ by Real Estate Experts

Real estate experts are touting a new state law that will give tax credits to companies that expand in or relocate to certain parts of New Jersey, calling it a “game-changer” that will allow New Jersey to better compete for jobs with neighboring states.

The Grow NJ Assistance Program, passed by the Legislature just before its session ended in January and signed by Gov. Chris Christie the same week, gives companies a tax credit of $5,000 annually for 10 years for each full-time job with health benefits they create or retain in New Jersey. To qualify, the em-ployer must produce or retain at least 100 such jobs, and must make a capital investment of at least $20 million.

“The bill will be a game-changer; it will trump any other state’s incentive program when necessary,” says develop-ment attorney Ted Zangari, founder of the NJ Smart Growth Economic Devel-opment Coalition, a group of more than 30 businesses and organizations which promotes smart growth and economic redevelopment in the state.

Funding for the tax credits, which are estimated to cost at least $200 million, would come from the existing $1.5-bil-lion Urban Transit Hub Tax Credit program that encourages companies to build near mass transit centers. Grow NJ extends the benefits to companies growing in other areas of the state, in-cluding the areas around the shuttered Fort Monmouth and near the Highlands, Meadowlands and Pinelands.

The law also makes improvements to existing incentives for companies expanding near transit areas. The mini-mum capital investment required was reduced to $20 million, from $50 mil-lion, Zangari said. Also, under the new

law, employers may receive a larger tax credit, up to an $8,000 for each em-ployee, if they are located near public transit.

“Every state right now wants to re-tain jobs; there is very, very steep com-petition,” said Peter Cocoziello, CEO of Advance Realty Group in Bedminster. “Every job is competed for by several states, and New Jersey must step up to the plate to be recognized.”

Added Tim Toughey, CEO of the New Jersey Builders Association: “I’m ex-tremely pleased the bill was passed.” ❖

BY ALICIA BROOKS WALTMAN

TED ZANGARI

PETER COCOZIELLO

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The New Jersey Chamber of Commerce’s first Congressional Dinner in 1937.

William Faherty, former New Jersey Chamber of Commerce president.

Thomas Bracken, president and CEO of the New Jersey Chamber of Commerce, and Gov. Brendan Byrne.

Deborah Podvey and Linda Bowden, regional president, PNC Bank Northern New Jersey.

Lt. Gov. Kim Guadagno and Gov. James Florio.

Jim Hughes, Dean of Edward J. Bloustein School of Public Policy, and Gov. James Florio.

Brenda Ross-Dulan, regional president, Southern New Jersey for Wells Fargo and Lucia DiNapoli Gibbons, regional president, Northern New Jersey for Wells Fargo.

The New Jersey Chamber of Commerce 100th Anniversary Gala on Nov. 10, 2011.

NEW JERSEY CHAMBER’S 100TH BIRTHDAY PARTY RAISES THE ROOF AT THE PALACE IN SOMERSET


Bryan Clymer, senior vice president of external affairs, Prudential.

Jeffrey Scheininger, chairman of the New Jersey Chamber of Commerce and president of Flexline/U.S. Brass & Copper Corporation, Manette Scheininger and Daniel Scheininger.

Vaughn McKoy, general state regulatory counsel at PSEG.

Peter J. Hovnanian, principal, J.S. Hovnanian & Sons, LLC, and Vito Nardelli, president and COO, OceanFirst Bank.

Thomas Edison’s great grandchildren (front to back) Lizabeth Sloane Eggemann, Heywood Edison Sloane and David Edison Sloane.

Domenick Cama, COO, Investors Bank.

The New Jersey Chamber of Commerce celebrated its 100th birthday in grand style on Nov. 10 with a gala

that drew 630 people, including Lt. Gov. Kim Guadag-no; former Governors Brendan Byrne and James Florio; and three great grandchildren of N.J. Chamber founding member Thomas A. Edison. Also attending the event at The Palace at Somerset Park were Chamber past presi-dents and past chairs, as well as leaders of New Jersey’s top companies that have long supported the N.J. Cham-ber’s mission to make the state a great place to live, work and run a business.

“Tonight we celebrate the 100th anniversary of the New Jersey Chamber of Commerce,” said Thomas Brack-en, president and CEO of the New Jersey Chamber of Commerce. “But more than that, we are here to celebrate everything that makes New Jersey and our country great.”

Guadagno, during a rousing speech, touted N.J. Cham-ber’s vital role in the Garden State.

“Thank you to all of you and particular thanks to the Chamber of Commerce for being so good at what you do and being so open minded and welcoming to me so I can take your work on the road,” Guadagno added. “Congrat-ulations and happy birthday Chamber of Commerce.” ❖

PHOTOS BY: Russ DeSantis

From left: Jeffrey Scheininger, chairman of the New Jersey Chamber of Commerce and president of Flexline/U.S. Brass & Copper Corporation; Anne Estabrook, CEO of Elberon Development Corp, former chair of the New Jersey Chamber of Commerce; Dennis Bone (top), president of Verizon New Jersey and former chair of the N.J. Chamber; William Faherty, former president of the N.J. Chamber; Joan Verplanck, senior director, Morristown Office, Cushman & Wakefield, former president of the N.J. Chamber and Thomas Bracken, CEO and president of the New Jersey Chamber of Commerce.

Thomas Bracken, president and CEO of the New Jersey Chamber of Commerce, and Lt. Gov. Kim Guadagno hold the New Jersey Chamber of Commerce’s new business charter reaffirming the New Jersey Chamber of Commerce’s mission to promote businesses across the state.

BY SCOTT GOLDSTEIN

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news m

akers

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Daniel H. Jara, founding president and CEO of the statewide HISPANIC CHAMBER OF COMMERCE of New Jersey, has resigned after 22 years of service, for health reasons. “After having the privilege to serve as an advocate for New Jersey’s Hispanic business community for more than two decades, I have stepped down,” said Jara. “I am proud of the role that SHCCNJ has played to advance our business interests and to serve as constant reminders that we are a growing force in this great state’s economy.” Sherise Ritter, principal of MERCADIEN, and managing director of The Mercadien Group, was named chairman of the Robert Wood Johnson University Hospital Hamilton Foundation (RWJ Hamilton Foundation) Board of Directors. “Sherry” is the first woman to hold the position and has been involved with RWJ Hamilton for the past five years, most recently serving as vice chairman of the board. The NEW YORK GIANTS, a member of the New Jersey Chamber of Commerce, brought the Lombardi Trophy back to New Jersey by beating the New England Patriots in Super Bowl XLVI in Indianapolis. Carlos Arroyo was recently promoted to community bank president of Northeast Jersey for WELLS FARGO, which is in the company’s Northern New Jersey region.

In other WELLS FARGO news, Brenda Ross-Dulan, Wells Fargo’s Southern New Jersey regional president (right), presented Dr. Alan Goldsmith, president of the Jewish Renaissance Foundation of Perth Amboy, and Perth Amboy Mayor Wilda Diaz, with a $50,000 grant check to support JRF’s efforts to revitalize and improve the quality of life of the residents of the city’s greater Budapest neighborhood. Wells Fargo is donating $5.53 million in grants to 52 non-profits across the U.S.

Willard C. Shih, a lawyer with WILENTZ GOLDMAN AND SPITZER, was named to the 2011 “Best Under 40” list by The National Asian Pacific American Bar Association. The list named the top 20 attorneys under the age of 40 in the U.S. and Canada.

Kathleen Fitzgerald was named vice president of corporate communications at PSEG. In addition to overseeing all internal and external communications for PSEG and its major businesses, PSE&G and PSEG Power, Fitzgerald will have an active role in PSEG corporate responsibility and the PSEG Foundation.

Keith S. Balla joined Cranford-based accounting and consulting firm FAZIO, MANNUZZA, ROCHE, TANKEL, LAPILUSA, as a principal. He heads the firm’s Government and Business Litigation groups.

Accounting firm EISNERAMPER announced that Jeffrey S. Parker was admitted to the firm as a partner in the firm’s tax practice. Judith Joan Sullivan has joined law firm ANDERSON KILL’s Corporate and Securities Group where she will head the International Business Department.

Nonprofit groups in New Jersey received more than $3.3 million from the VERIZON FOUNDATION in 2011. Most of the funds went to organizations that focused on advancing health care, domestic violence prevention, education and sustainability. In addition, Verizon employees volunteered nearly 64,800 hours to nonprofit groups throughout the Garden State in 2011.

The MECHANICAL CONTRACTORS ASSOCIATION OF NEW JERSEY contributed $10,000 to the Mechanical Contracting Education & Research Foundation.

ATLANTIC CITY ELECTRIC presented a check for $38,000 to Special Olympics New Jersey. This donation is one of three that Atlantic City Electric has donated to non-profit organizations for a total of $115,000 from the utility’s Sixth Annual Fall Charity Golf Classic. Other recipients were the Arc of Atlantic County and Gateway Community Action Partnership.

CHILDREN’S SPECIALIZED HOSPITAL, based in Mountainside, was the first hospital in the state to have its three-year-old electronic record system approved by state Medicaid officials, said hospital CEO Amy Mansue. The hospital is slated this round to recoup $1 million towards the $6 million it spent on its electronic record system, Mansue said.

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SHERRY RITTER

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ALEX DECROCE 1936-2012

He was a successful business-man, supported many charitable boards and foundations, was a leader in transportation issues and a staunch advocate for the rights of crime victims.

“In a business that is sometimes rough and tumble and replete with broken commitments, he was one of the kindest, most gen-tle and most trustworthy people I

have ever known,” said Gov. Chris Christie.

Minority Leader DeCroce was a former New Jersey Chamber of Commerce Legislator of the Year.

In the last speech he penned but never had the chance to give, he wrote: “We will solve more prob-lems by working together than apart … reach across the aisle … we owe our constituents nothing less.”

On behalf of the business com-munity of New Jersey, the state Chamber of Commerce extends condolences to the DeCroce fam-ily. Alex DeCroce will be missed by everyone who knew him or benefit-ted from his service. ❖

Remembering Assembly Republican Leader Alex DeCroceThe New Jersey Chamber of Commerce respectfully remembers Republican Minority Leader Alex DeCroce, whose distinguished 22 years of public service in the State of New Jersey benefitted all of its citizens.


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For a complete list of discounts for N.J. Chamber member companies and their employees, go to www.njchamber.com/affinity.asp.

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The directory, called the Centennial Reg-ister and Commemorative Book, contains a listing of all N.J. Chamber member compa-nies and has traditionally been the number-one source members turn to when looking to utilize the services of fellow members.

Here’s a bonus: In addition to being our new directory, it served as the program book for our Centennial Gala Dinner. The book is a keepsake, featuring a detailed history of the N.J. Chamber’s first 100 years, as we head into our second century.

Your Listing Appears on More Search Engine Results

In addition to the book, we have produced a new and improved electronic directory. It can be found at www.newjerseycc.com/di-rectory. Our new electronic directory features better search functionality, streamlined cat-egories and is optimized so your listing ap-pears more often on search engine results.

As with the directory book, only New Jersey Chamber of Commerce members are listed in the electronic version, but every-body with Internet access can find member companies and their information, ranging from business contact information, to links, to company websites.

We will be promoting the electronic direc-tory through the year – encouraging mem-bers to do business with other members, and asking the general public to do business with Chamber members.

It’s another way the N.J. Chamber pro-motes and supports its members. ❖

New and ImprovedTHE N.J. CHAMBER OF COMMERCE MEMBER DIRECTORY

The New Jersey Chamber of Commerce has already accomplished our new year’s resolution: we produced a sharp new business directory featuring you, our members. In January, it was sent to member companies, as well as state and local government offices and elected officials.

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Save these DatesMarch 28, 2012New Jersey Chamber of Commerce Breakfast Roundtable with state Treasurer Andrew Sidamon-Eristoff8:30 a.m. to 10 a.m.Forsgate Country Club, Monroe

May 22, 2012New Jersey Chamber of Commerce Breakfast Roundtable with Assembly Majority Leader Lou Greenwald and Assembly Minority Leader Jon Bramnick8:30 a.m. to 10 a.m.Forsgate Country Club, Monroe

June 14, 2012 15th Annual New Jersey Chamber of Commerce Open House and Reception 5 p.m. to 8 p.m. New Jersey Chamber of Commerce Headquarters, Trenton

For info on attending events, go to www.njchamber.com.

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