Energy Costs Making NJ Businesses Gloomy

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The New Jersey Business and Industry Association is out with its 67th annual Business Outlook Survey. According to the results, New Jersey businesses are not happy about the cost of energy in the state, with 77% of respondents saying it has impacted their business and 81% saying they aren’t confident these costs will moderate in 2026. Further, 59% say they have no plans to expand their New Jersey operations and 29% indicate that they will expand in another state. The employment outlook is mixed, with 24% of businesses planning to increase payrolls while 12% expect to reduce headcount. This increase/decrease spread of 12% is the smallest since 2013 and lower than the 18% quoted in last year's survey. The respondents’ outlook for the New Jersey economy has deteriorated since the 2024 survey, with 16% projecting an improvement over the next six months compared to 23% in 2024, and 41% anticipating that the state’s economy will get worse compared to 26% a year ago.


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