NJ Chamber World Cup 2016 Briefing: How engaging with fans during nonmatch days can lead to business for years to come
FIFA World Cup 2026 N.Y./N.J. Host Committee CEO Alex Lasry started his presentation at the World Cup briefing sponsored by the New Jersey Chamber of Commerce last week by sharing three stats – none of which was this factoid: The last World Cup final was watched by more viewers than the previous 13 Super Bowls – combined. No, this talk at Montclair State University was about how local businesses and communities can take advantage of the event, to be played in New Jersey (the final is at MetLife Stadium in East Rutherford) and around North America from June 9 to July 19 in 2026. (BINJ)
See photos from the briefing here.
Federal Reserve likely to keep rates unchanged this week
The Fed will almost certainly leave its key rate unchanged at about 4.3% when it meets Tuesday and Wednesday. Fed Chair Jerome Powell and many of the other 18 officials on the Fed’s rate-setting committee have said they want to see how Trump’s tariffs affect the economy before making any moves. This is despite weeks of harsh criticism and demands from President Trump that the Fed reduce borrowing costs. (The Associated Press)
Gov. Murphy defends taking economic mission trips in final year in office
Gov. Murphy had little patience for those who questioned whether he should be making economic mission trips in the final months of his administration. The trips bring jobs and investment – now and moving forward, the governor said. Murphy, speaking from Dubai on the final day of the trip, said the economic mission to Saudi Arabia, Bahrain and the United Arab Emirates – his 13th such mission as governor – was as impactful and productive as his previous trips. Murphy spent time in the Gulf Arab States after spending a few days in Poland and Germany. As has been the case for all of Murphy’s economic missions, it was funded by Choose New Jersey. (BINJE)
United Arab Emirates-based Hotpack says it is expanding with $100 million plant in Edison
United Arab Emirates-based food packaging company Hotpack has selected Edison, New Jersey for its first manufacturing and distribution hub in North America. The move aims to enhance Hotpack's service delivery to its U.S. customers. Last week, the company, along with Gov. Murphy, announced a $100 million investment to establish the 70,000-sq-foot facility. The plant will produce customized plastic and paper cups, containers, and clamshells, with plans to create up to 200 new jobs within five years. (Yahoo! Finance)
NJ Chamber CEO Tom Bracken: Strong leadership is antidote to uncertain times in New Jersey.
We are living in a time of deep uncertainty – politically and economically. As we look to the future, one thing is abundantly clear: If we are to navigate the challenges ahead and unlock the opportunities waiting on the other side, leadership is the key. (BINJE)
NJ to Texas: We’ll take your women’s health care doctors if you don’t want them
New Jersey is appealing to frustrated reproductive health providers in Texas with four billboards encouraging obstetricians, gynecologists and other providers of women’s health care to relocate. The billboards, located in the Dallas/Fort Worth area and San Antonio near major university hospitals and medical schools, are part of the “Choose New Jersey Reproductive Rights Campaign” which launched on April 14. One billboard states “In New Jersey, your patient’s care is prioritized. Not compromised.” Another billboard reads “New Jersey: where health care providers determine patient care, not politicians.” (nj.com)
SALT talks stall as GOP mulls limiting tax break to middle class
Key House Republicans on Thursday discussed ways to direct an expanded state and local tax deduction to those making less than $400,000 as they seek to balance the cost of the tax break with the political needs of several lawmakers from New York and other high-tax states. The $10,000 cap on SALT, one of the most contentious issues in the GOP debate on its giant tax bill, remained unresolved as lawmakers left Washington Thursday. Republicans on the House tax panel discussed a series of options to direct the deduction to middle class households, New York Rep. Nicole Malliotakis said. She said discussions included possible adjustments to the overall cap level, how many years to extend it and if there should be income limits for who can claim the write-off. (Bloomberg)
Longtime NJ Advance Media reporter Matt Arco dies at age 39
Matt Arco, a sharp political journalist who doggedly covered governors, presidents, and presidential candidates for NJ Advance Media for more than a decade, died suddenly of natural causes Wednesday, his family said. He was 39. Deeply sourced, eager to sniff out hypocrisy, and beloved by colleagues, friends, and family, Arco was technically the first reporter hired by NJ Advance Media – the company that provides content to NJ.com and The Star-Ledger – in 2014. He quickly became a force at the Statehouse bureau, emerging as one of the most respected reporters covering the colorful and dramatic world of New Jersey politics. (nj.com)
NJ Chamber Edge
We Asked N.J. Chamber Members: What is the future of work?
"There have been plenty of studies where they compare physicians diagnosing a patient and an AI tool diagnosing the same patient. The AI tools outperform the physicians, and the reason is medical knowledge doubles every 73 days so you can't possibly keep up. No job is safe in today’s world which is both frightening and wildly exciting. AI isn't going to replace your job. What’s going to replace you is a person that knows how to leverage AI. As a leader, your job is to help each person on your team have the right mix of human and technical skills so they can remain relevant and successful." – Michael Edmondson, associate provost for continued learning, NJIT. Read more here. (N.J. Chamber of Commerce)
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