Lt. Governor Kim Guadagno Discusses NJ's Business Climate
Taped at the NJBIA Impact Symposium, Lieutenant Governor Kim Guadagno talks about the ways New Jersey can improve the business climate, and gives insight on the economic impact $15/hour minimum wage hike could have on the state.
"I am honored to be joined by the lieutenant governor of the great state of New Jersey. I'm here at the Business and Industry Association forum with the movers and shakers who matter. You don't miss this event, do you? You're here. I try not to miss any event with BIA. Why is that? Because the... this is my easiest reach to the business community, you know? And you get to see big companies and little companies. The big companies, I can get to. The smaller companies are harder to reach. And so when they come to an event like this, I... I get 'em. Yeah. I get to talk to them. You know, the one thing about you that... that has always been interesting when we've always... our paths have crossed, and you give out your... We talk about this all the time. You give out your cellphone number. Mm-hmm. People are always calling you and talking to you about red tape 'cause you've headed up the Red Tape Commission. Mm-hmm. What's the number one message you're getting to people about regulation, red tape? You know, I used to reach out to big companies and talk to the big companies about how hard it was to do business in New Jersey. But I find, first of all, I get more satisfaction out of dealing with the smaller companies or the one or two small businesses because you know the real growth in New Jersey isn't keeping a company or stealing a company from New York and bringing 'em over. It's fun. And it's good to do. But the real growth is small business. And if small businesses can just pick up the phone or text me and get an answer or get something done, there's a concept... Mm. Then, they'll stay in New Jersey and grow in New Jersey and have some confidence in our ability to provide for them what they need in order to be successful in New Jersey. But, you know, one of the things... I was moderating in our panel this morning with our legislative leaders. We heard from some of the business leaders as well. But the businesses who do leave, Lieutenant Governor... Yeah. Some of the biggest reasons, is it around regulation, as well as taxes, both? What... what are we talking about here? Well, you know, when a business leaves, I always call them to find out why they leave because you learn a lot by your losses. Um, but so what I find... two things. They stay. If the numbers work, if it's objectively reasonable for that company to stay, they'll stay, and if they feel welcome. Mm. In other words..."