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The

ROI
INFLUENCERS
POWER
LIST 2019
PRSRT STD CONTENTS:
US Postage Paid  Top 30: Page 5  Health care: Page 32
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 Associations: Page 22  Lawyers: Page 36
 Banking: Page 23  Philanthropy: Page 38
 Consultants: Page 24  Politicians: Page 39
 Economic development: Page 26  Real estate: Page 40
 Executives: Page 28  Technology: Page 44
 Government affairs: Page 30  Unions: Page 45
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Editor’s Desk

HOW WE PICK THE LIST


The future
H needs to be female
ow do you pick the list?
It will be the second-most-asked
question this week, right after, “What
defines influence?”

Here’s the answer: The list is put together Researching our latest ROI Influencers list shows women
by ROI-NJ editor Tom Bergeron and the
ROI staff, with input from numerous power
still are sorely under-represented in positions of power

B
players around the state.
usiness is about numbers. The bottom line. Our Top 30 list, the most powerful of the powerful? It
We make sure to talk to people in all And the simple fact of the matter is, no matter has only five women.
industries and sectors and get a variety of how many studies show that having women in power These numbers are not surprising to anyone who is
responders in all definable metrics: position, positions (board seats, C-suite roles) will make companies reading this. The state always has had a lack of female
more profitable, the state is still slow to react to putting them leaders.
gender, geography, ethnicity and age.
there. The challenge is figuring out how to change this.
All told, more than two dozen people were This year’s ROI-NJ Influencers list — Michele Siekerka, the CEO and president of the
formally or informally consulted for this list. what we like to call the ultimate power New Jersey Business & Industry Association, offered her
And, after the working list was established, list in the state — shows the disparity. solution.
a second round of people were used to give We talked with more than two dozen “This needs to be done with intention,” she said. “You
influencers in the state, many of whom need to always ensure that you have a pool of candidates that
one final look-over, trying to spot obvious
were women, and found few women represents a diverse pool that you can choose from at the
omissions. The people you see pictured are
came up in the discussions. ready.
the ones whose names came up the most. In fact, women make up just 20 percent of the total “You don’t wait until there’s a moment in time that
Oh, and the third-most asked question? members of the list. And it doesn’t really matter which there’s an opportunity and then you say, ‘Oh, where do I go?
“How come I wasn’t on it?” category, that percentage stays consistent. What do I do?’ That’s not the time to set up your network.
The highest percentage can be found in the Associations “Your network needs to be set up well in advance, and
category, where women grabbed five of the 17 spots (a you need to be networked with people who know where
whopping 29 percent). The lowest came in real estate, where these smart, talented women are. Because, trust me, there’s
only one female was among the 19 listed. CONTINUED ON PAGE 46

LEGALESE

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ROI INFLUENCERS POWER LIST 2019


TOP 30

1
PHIL MURPHY
Governor (D)
State of New Jersey

H
is energy and enthusiasm
has been on display from
the moment he leaped onto
the stage at his victory party in 2017,
and the governor hasn’t shown any
signs of slowing down since.
A businessman, diplomat,
politician and self-proclaimed “head
of sales” for New Jersey, Murphy has
been everywhere. And he has had
his hits.
Murphy was able to quickly
achieve many of his progressive
campaign promises, but one insider
said he needs more than that. “He
has picked off the low-hanging
fruit of a progressive agenda. He
needs bigger victories.” He’s trying.
His goal to create a fairer economy
is laudable, but the business
community and taxpayers may be
more interested in tax relief.
Being governor has brought many
challenges and criticisms. Insiders
note he already has felt the sting of
public office in the criticisms of his
relationship with the Legislature —
whether it’s the tension with Senate
President Steve Sweeney or the
perceived lack of nuanced Jersey
political (and legislative/procedural)
knowledge in his front office. And
he has seen the downside of public
office with his wealth and children in
headlines.
The good news: He holds the
most power of any governor in the nation. And, with so many issues, he has many opportunities to increase his popularity.
Fixing New Jersey Transit would do wonders. And some say the Gateway Tunnel project will have the biggest influence on his job this
year. If he can make it so that he owns the success of the funding of Gateway, or solves the state’s high-cost problem, his administration
will soar in popularity, one insider said.

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ROI INFLUENCERS POWER LIST 2019


TOP 30

2
GEORGE NORCROSS
Chairman/Executive chairman

A
Cooper University Health Care/Conner Strong & Buckelew
nyone who thought George Norcross was losing his influence, even slightly, has discovered they were mistaken.
Murphy seems to have picked up on that, as he recently even spent a day at Cooper University Hospital to make
several announcements. Norcross, the ultimate political power broker, still holds enormous influence in South
Jersey. He can gather support for a bill as well as anyone. And, if something doesn’t have his support, don’t count on it
happening. “Why anyone thought they could do an end-around when it comes to George is beyond me,” one insider said.
“He has tremendous influence on everything in South Jersey.” Which, another insider pointed out, has been a good thing.
“Look at Camden, look at Cooper — both have benefited greatly because of George.” One insider felt the EDA audit was a
way to do battle with Norcross by picking on companies he has backed. They also felt it was a bad move. “Why on Earth
would anyone pick a fight with him? It’s a no-win.”

3
STEVE SWEENEY
State Senate president, 3rd District (D)

H
State of New Jersey
e wanted to be governor. And he may still want to be governor. For now, the second-most-powerful politician in
the state has to settle for battling with the governor. Sweeney has done that well, often showing his experience by
setting the agenda. “It wasn’t a fair fight, especially early in the Murphy administration,” one insider said. “You could
see how Sweeney schooled him on playing politics.” Another insider was more impressed with Sweeney’s other battle:
to reform the pension system. “Forget about any fight he has picked with Murphy, that’s just politics. This is a guy who
is now openly fighting with unions. Who would have thought that, considering how often he proudly boasts of his union
membership? But he knows that the pension problem is out of control and that it will crush the state. He’s not going to be a
politician who blindly supports union members to the detriment of the state. He’s clearly felt emboldened after holding off
the attack from the teacher’s union.”

4
CRAIG COUGHLIN
Assembly speaker, 19th District (D)

C
State of New Jersey
oughlin’s quiet demeanor made many wonder how the previous back-bencher could make a mark, and whether
he would be a puppet to Sweeney. He has proven to be anything but. “He has grown tremendously in the job,” one
insider said. “Anyone who thought he was merely a placeholder is mistaken.” That starts with the state’s top two
players. It appears he has convinced both Sweeney and Murphy that he has established a public perception of being a
swing vote. This has made each legislative issue interesting to watch and will make for interesting budget negotiations
each year. Coughlin already has proven he can get votes — and get bills passed. From getting out-of-network finalized to
brokering a deal on the $15 minimum wage, Coughlin already has made a mark. Next up could be finalizing the legalization
of recreational cannabis. Of course, his biggest battle may be serving as the liaison between Sweeney and Murphy. How
much more he can do while balancing that tension remains to be seen.

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ROI INFLUENCERS POWER LIST 2019


TOP 30

5
TAMMY MURPHY
First lady

O
State of New Jersey
ne insider put it this way: “If anything, she is hurt by the fact she is the first lady. If that, for one second, makes
someone think she is not qualified — or smart enough — to handle and discuss any issue, it would be a gross
miscalculation.” Murphy has an office, a staff and issues she is helping the state on. It’s part of an interesting
and progressive dynamic that the state appears to be handling well. Her efforts to decrease maternal and infant mortality
in minority communities and the focus on environmental issues are certainly in the spotlight. In Germany and Israel, her
prominence and the dynamic duo of the Murphy pair was on full display. The two have long had a reputation for working in
tandem, and it is clear the governor operates in sync with her. Others have noticed this: “Always on time, always prepared,
always ready to get down to business,” one insider said. “You better be ready when you meet with her.”

6
JEFF BEZOS
Founder and CEO

I
Amazon
f you are the head of one of the largest employers in the state — one that employs nearly 20,000 people, all making at
least $15 an hour; one whose company seemingly creates two to three jobs for every job it has; one that is changing
the face of retail, e-commerce, logistics and warehousing simultaneously — you’d be a no-brainer for the list. And one
of the top spots. That’s why Bezos is here. Forget the HQ2 search — you know, the one that had every elected official and
economic development professional on edge for nearly a year (talk about influence). That’s not why Bezos is so influential
in this state. More than any other CEO, his actions have economic implications on so many sectors. And, should he decide
to put even a piece of his second headquarters in Newark (or Jersey City, or at The Hub @ New Brunswick), he’ll rise even
higher. “In a state where so many are moving jobs out, he’s creating jobs,” one insider said. “What more needs to be said?”

7
DON GHERMEZIAN
CEO

G
Triple Five
hermezian, or a member of the Ghermezian family, has been ranked high on lists such as this for years. Mainly
on a promise. This year, it is becoming reality. The American Dream project will soon open in the Meadowlands.
And, if it matches even part of the hype it has had for a decade (or more) and becomes even half of the engine of
economic growth that has been promised for so long, it will be a complete success. And it will do so while setting a new
precedent for experiential retail (approximately half will be entertainment) that others will copy in the state and the region.
“You can’t view this as a shopping mall,” one insider said. “This is going to be a tourist attraction, one that draws people
from all over — way beyond New York City, though there will be plenty from there. That’s why this will be an addition to the
economy, not just a shift of dollars.”

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ROI INFLUENCERS POWER LIST 2019


TOP 30

8
RAS BARAKA
Mayor (D)

H
City of Newark
e was co-No. 1 on our ROI Influencers: Real Estate list and No. 1 on our ROI Influencers: People of Color list —
so, it only figures that the mayor of Newark would be in the Top 10 here. But, here’s the catch: This time, we’re
recognizing him for his impact on others rather than just the rise of his city. Baraka has pushed diversity and
inclusion the right way — giving qualified people in underserved communities a chance (which is all they are asking for).
“I’ve done business in the city of Newark for 30 years and I can tell you it’s different now,” one insider said. “With (former
Mayor) Sharpe James, there was plenty of diversity — but they were there because of patronage. With Baraka, it’s quality up
and down the line. He has infused his administration with diversity, but he’s not pandering. These are top-notch people.” This
collection of talent is helping Baraka take Newark to new heights. One where all residents — in all areas — are benefiting.

9
TONY COSCIA
Partner/Chairman

H
Windels Marx Lane & Mittendorf/Amtrak
ow is Tony Coscia influential? Let us count the ways. As the chairman of Amtrak, he is the point person on the
Gateway Tunnel project. And he does it, one insider said, as Coscia does best: Orchestrating events behind the
scenes. “He doesn’t have to be the spokesman, but don’t be fooled, he’s the most important person on the project.”
All of this doesn’t take into account he is a top lawyer at a top firm in the state, Windels Marx (handling a lot of real estate
and governance issues), chairman of Suez North America and director of OceanFirst Financial Corp. Then there’s this: He’s
usually the smartest guy in the room. “I never heard Tony Coscia say something that anybody didn’t do,” one insider said.
“His brilliance is indisputable. So, even when people doubt something he says, they do it, because 99.9 percent of the time,
he’s right. So why take the chance?”

10
SHEILA OLIVER
Lieutenant governor (D)

I
State of New Jersey
t’s arguably the toughest job in state government. And it’s certainly one of the most difficult positions in which to stand
out on your own. Maybe it’s because she is only the second person to hold the job of lieutenant governor — and the
extent of the role’s influence is still being determined. “The job is to support the governor, period,” one insider said. “Any
success you have will — by definition of the job — go to your boss.” Oliver, a lifelong — and supremely accomplished —
politician, knows the way the game is played. And she also knows how to get things done … without fanfare. “She’s very
involved in Newark and Atlantic City,” one insider said. “You may not hear about it, but those of whom interact there know
it. And we’re better off because of it.” Oliver plays politics, but she’s also eager to speak her mind. “The governor has said he
likes this,” one insider said. “Just how much isn’t as clear.”

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TOP 30

11
Cory Booker
U.S. Senate (D)
State of New Jersey

B eing a presidential candidate doesn’t put him this high on the list. Nor does being a U.S. senator. ROI-NJ is a business-first
publication, so Booker is being cited for the Opportunity Zone program he co-sponsored. The potential for economic development
is enormous — especially in Newark, which has been recognized as one of the best places for this investment vehicle. Of course, the
presidential run doesn’t hurt. Neither does the personality. “Booker has shown throughout his career he has an overwhelming amount of
influence, which stems from his personality alone,” one insider said.

12
Ralph Izzo
Chairman and CEO
Public Service Enterprise Group

H e’s the head of the largest utility in the state. And he’s always the smartest guy in the room. But that’s not why he’s so high on this
list. Izzo gets credit for navigating a tough situation last summer — when PSEG was roundly criticized for seeking subsidies to
keep its nuclear plants open. Winning the fight shows his influence in the state (it also helped that he had common sense and fiduciary
responsibility on his side). “Ralph is one of those no-brainer selections for lists like this,” one insider said. “He’s a top executive and a
gentleman. And I think we saw that play out.”

13
Bob Garrett
CEO
Hackensack Meridian Health

T here’s not enough space to discuss all of the innovative ideas Garrett is implementing or all of the partnerships he is pursuing as
head of Hackensack Meridian Health. And we haven’t even mentioned the new medical school at ON3 in Nutley and Clifton. “This
is one of the real modern-day examples of an executive who is not afraid to try something new, not afraid to embrace new technologies
and business models — and not afraid to fail,” one insider said. Garrett was No. 1 on the ROI Influencers: Health Care list last year.

14
Chris Paladino
President
New Brunswick Development Corp.

A s head of DEVCO in New Brunswick, Paladino gets credit for so much of what has taken place in the town, especially around the
university. His next big project there, The Hub @ New Brunswick, promises to be a center for innovation in the state. And then
there’s New Brunswick Performing Arts Center, which will set a standard for how the arts can drive economic development. Paladino’s
influence, however, extends far outside New Brunswick, both in work (he helped spearhead the Gateway project in Atlantic City) and
influence (he consults on a lot of issues with a lot of top people).

15
Gurbir Grewal
Attorney general
State of New Jersey

H e is wielding significant influence over the state’s business community with a deeper look into clawing back incentives if companies
are found to have been gaming the system. It’s just one of the many ways the AG is displaying his ability to react quickly to
problems in the state. He also has his hands full with the opioid crisis and handling of sexual assault allegations. Grewal clearly
sees eye-to-eye with Murphy, but don’t think he is swayed by politics. “He cares more about what he’s doing than his position or an
opportunity for career advancement,” one insider said. “Everything that Gurbir does comes totally from the heart.”

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TOP 30

16
Tim Sullivan
CEO
New Jersey Economic Development Authority

T he running joke is that half of the job of being the head of the Economic Development Authority is going around the state explaining
what that job entails. Sullivan, on the banquet/networking circuit since he arrived, handles it well. The good news: He’s got plenty
of new programs to talk about. The bad news: The agency has faced heavy criticism from his boss for how it has been run in the past.
Sullivan’s job is to do what’s best for the state while doing what’s best for the governor. It’s a lot to juggle, but so far, most feel Sullivan is
up to the task.

17
Barry Ostrowsky
CEO and president
RWJBarnabas Health

A s the head of one of the two biggest health systems in the state, RWJBarnabas Health CEO Barry Ostrowsky has one simple goal:
Change the delivery of health care as we know it. Ostrowsky is just the person to take on such a Herculean effort, one insider said.
“Is there a smarter guy in health care? Or a sharper executive in the state?” Part of his smarts involve surrounding himself with an “A+”
team of colleagues. “He has assembled a dream team there,” another insider said. Always true to the state, Ostrowsky is a Jersey guy
through and through.

18
Aisha Glover
CEO
Newark Alliance

H er stock soared after spearheading Newark’s bid to land Amazon’s second headquarters project — an effort that’s still ongoing
and one she still is leading. The notoriety and excitement over the HQ2 bid let others know what those in Newark have known
since she arrived: Glover is a key player. “Baraka trusts her and counts on her implicitly,” one insider said. “And he can. She’s that good
and that hard-working.” That trust is one of the reasons Glover moved from the Newark Community Economic Development Corp. to
the Alliance, where she can work more closely with the private sector to help continue the city’s steady growth.

19
Ommeed Sathe
Vice president, impact investments
Prudential Financial

M any people won’t know him — and will wonder why he’s in such a prominent spot. Those who do will wonder why he isn’t higher on
the list. As vice president, impact investments at Prudential Financial, Sathe helps oversee the company’s enormous presence in
Newark. And, following the lead of the company, he does good deeds to do good deeds — not to get publicity. “Prudential absolutely is
involved in every major project in Newark,” one insider said. “And it has been for as long as anyone can remember. Ommeed is the go-to
person.”

20
Kevin Conlin
Chairman, CEO and president
Horizon Blue Cross Blue Shield of New Jersey

Y ou haven’t heard much from the state’s largest insurer. And that’s by design. And a credit to Conlin. “He’s righting the ship after a
tumultuous period,” one insider said. “Remember, this is a group that was under public attack from (Gov. Chris) Christie. Can you
blame them for staying under the radar?” That doesn’t mean Conlin hasn’t been active, now a little over a year into his run as CEO. All of
the OMNIA lawsuits are now settled. That alone is worthy of a big tip of the hat.

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TOP 30

21
Matt Platkin
Chief counsel
Murphy administration

T he fact that he is still on the list — that he still serves as Murphy’s chief counsel — shows the influence he has. Most prognosticators
felt Platkin would be sacrificed during the Katie Brennan sexual assault hearings. One insider said that was never a possibility.
“Murphy loves him. I know getting rid of Matt was a popular viewpoint, it just wasn’t a realistic one.” Another insider summed up his
influence this way: “Tell me one major move the governor has made without his input.”

22
Diane Gutierrez-Scaccetti
Commissioner of transportation
State of New Jersey

N o one on the list has greater potential influence. Because no one in the administration is so out front on public issues. At least,
that was the take of one of the insiders. “If she can solve the commuter problem — whether it be NJ Transit or the Gateway Tunnel
or just getting the potholes filled — she becomes the star of the administration. All of those things will be golden moments for the
governor.” The Jersey native and longtime transportation executive has a few fans who think she will succeed. “She has the brains, the
ability and the power.”

23
George Helmy
Chief of staff
Murphy administration

T he potential scope of the job is so big — and so important — that Helmy earns a top spot among the state’s influencers just a month
into his job as Murphy’s chief of staff. “Good luck with that,” one insider said. “That may be the toughest job in the state. And it’s
especially hard when you’re the second person in it. He gets no honeymoon period.” Many feel Helmy is up for the task. As the former
state director for Booker, he is used to working for high-powered people in high-powered roles. That’s why many felt he was a strong
choice for the spot.

24
Kevin O’Toole
Chairman
Port Authority of New York and New Jersey

A s chairman of the Port Authority, he has the power to battle governors on both sides of the river. As a managing partner at the
O’Toole Scrivo law firm he founded and as a former well-regarded politician (he’s been a mayor, assemblyman and state senator),
he knows how. And, as a Christie appointee in 2017, he has the job security of a six-year term. “Kevin is the perfect person for this job,”
one insider said. “He’s smart and tough.”

25
Frank Spencer
Second general vice president
United Brotherhood of Carpenters

H e’s a national labor leader, serving as the second general vice president at the United Brotherhood of Carpenters. Most people feel
the carpenters are the state’s most powerful union; Spencer is a big reason why. “Nothing gets built without going through the
carpenters, and that means going through Frank,” one insider said. A former Camden County freeholder, Spencer remains active in New
Jersey. He is on the board of the Casino Reinvestment Development Authority.

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TOP 30

26
Jose Lozano
CEO
Choose New Jersey

L ozano appears primed to take Choose New Jersey to the next level. In the coming
months, it will move to the Gateway Center in Newark, sharing space with the EDA and
the Governor’s Office to create an economic resource center in the state’s most important
city. Look for Lozano to make the organization more responsive and proactive as he
attempts to sell the state’s attributes to outside companies.

27
Loretta Weinberg
State Senate, 37th District (D)
State of New Jersey

I f there’s one truth that came out of the Brennan hearings, it is this: Loretta Weinberg is
never going to stop asking tough questions. Democratic leaders discovered the hard way
what Republicans leaders learned during the Christie administration: Weinberg relentlessly
seeks the truth. “You have to understand,” one insider said. “Loretta is not on one team or
the other. She’s on her own team. And I mean that in the best possible way. She fights for
what is right.”

28
Dennis Drazin
CEO
Monmouth Park

S ports wagering has been a big economic boon for the state since it was (surprisingly)
legalized last summer. It has the potential to be a huge money-maker (far greater than
cannabis, most think). Putting a face on it this year is tough. Former state Sen. Ray Lesniak
deserves a nod, as does Christie. This year, we’ll give the nod to Drazin, who — as the head
of Monmouth Park — was well ahead of the curve. A spot he continues to hold.

29
Bill Caruso
Managing director
Archer Public Affairs

T he enormous possibility and potential of pot is giving way to profitability. Medical marijuana
use is growing — and recreational use appears to be weeks/months away from getting
passed. A whole host of people helped get the movement to the finish line, so it’s tough to pick
the most influential. We’re going with Caruso, the managing director of Archer Public Affairs,
who was backing cannabis when cannabis wasn’t cool (read: the Christie administration). He
was one of the founding leaders of New Jersey United for Marijuana Reform. “A lot of people
have jumped on the pot bandwagon,” one insider said. “Caruso’s always been in the front seat.”

30
Meteorologists

I t could be someone on TV or radio, but we’re going to go with Jason Franklin of the
National Weather Service in Mount Holly. Franklin could be this state’s version of Snow
Miser. He can’t cancel Christmas, but he can create a state of emergency. You want
influence? How about the ability to shut down the state — bringing businesses everywhere
to a halt — by even hinting that a snowstorm may be on the way?

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ACCOUNTANTS

Carl Bagell Glenn Friedman


Managing partner – Southern New Jersey CEO
Friedman Prager Metis

Here’s how one insider described Prager Metis is another big firm that is quickly increasing its presence in the
Friedman: “They are a solid firm state. And, with offices in Hackensack, Basking Ridge and Cranbury, it already
and a diverse firm. They are an is in position to cover a lot of it. The firm has a deep history of practice in
example of how you can acquire a entertainment — and will continue that. It also has picked up more SEC-type work. But, really, the sky is
number of firms but come together the limit.
as one. They have a great culture.”
Bagell is the partner in charge at
the Marlton office.

Ed Guttenplan Sarah Krom


Managing shareholder Managing partner
Michael Coletti WilkinGuttenplan SKC
New Jersey office managing partner
It’s all about culture at She is the managing
Mazars
WilkinGuttenplan. Ed partner at SKC, a
Mazars’ New Jersey CPAs are part Guttenplan preaches sought-after speaker
of a global network of more than it and the firm delivers and the current
20,000 professionals, but they it. “It shows in how president of the New
still deliver individual service — so they do their work,” one Jersey Society of
said one insider. Another said the insider said. “This isn’t CPAs. She’s also a
group’s strength is that it is young just about winning awards, it’s about creating dynamo, said one insider. “She’s an incredible
and agile and poised to pivot a winning culture. Ed leads that.” Said another worker. Her clients love her because she
toward the future of the profession. “In a sector that has insider: “This firm does great with millennials. is such a hard worker. She represents the
a lot of old, they have a lot of young,” one insider said. That’s something everyone in the industry is next generation of CPAs.” Said another: “Her
envious of.” willingness to step into so many statewide
roles at a young age shows her dedication to
the profession.”

Bill Hagaman
CEO and managing partner
Withum

He may be the best-known (or, at least, most-recognized)


person in the accounting world in New Jersey. You know
him as the face of Withum’s ad campaigns. The industry
knows him as the head of one of the top firms in the
state. Hagaman is on the executive committee of the New
Jersey Chamber of Commerce, too. Said one insider: “Are
they the biggest, the most diverse, the most skilled? I’m
not sure, but I know they are in the conversation.” These are just some of the
reasons they score well in the Best Places to Work surveys.

Michael Hochman
Partner-in-charge of New Jersey office
Grassi

The firm, one of the 100 largest in the country, with a


huge presence in New York City, Westchester and Long
Island, has been increasing its play in New Jersey from
its Park Ridge office. It is known for a lot of its work in
construction, but views itself more as a consulting firm
that helps customers prepare for the future. Said one
insider: “They are a firm I suspect we’ll be seeing more and
more of.”

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ACCOUNTANTS

Maria Rollins Alex Serrano Jay Weinstein


Managing partner Office managing partner Partner in charge, Metropark office
KRS Citrin Cooperman EisnerAmper

KRS is smaller than some of the The firm Weinstein heads the office of the
other firms listed here, but that is turning biggest firm in the state — one
only adds to its success. “What’s 40 this that is coming off a stellar year,
impressive is how much they can year — and especially when it comes to M&A
do, how good they are, for their celebrating and tax reform. Eisner also is
size,” one insider said. “What’s more by looking poised to be a leader in the new
impressive is that they consistently ahead to Opportunity Zone programs. A
win Best Places to Work awards. So, they’re doing it the next 40 years. “They are solid sought-out speaker, Weinstein is also on the board of
right.” KRS continues to show that bigger isn’t always in all areas,” one insider said. the state chamber. Said one insider: “Everyone knows
better. The full-service firm specializes and respects Jay. In many ways, his firm is the gold
in real estate and construction, standard.” Another said its location makes a difference.
restaurant and hospitality services, “Every time you drive down the Parkway, you see their
automotive dealerships, and logo on the building. How cool is that?” the insider said
cannabis. with a laugh.
Steven Schinella
Managing partner, Roseland office
CohnReznick

Schinella’s in charge of one the


Alan Sobel
biggest firms in the state, one that
Managing member
is strong in a number of areas,
SobelCo
from real estate to SEC, and construction to food and
beverage. “They are one of those firms that is strong in a Sobel, the incoming president of the New Jersey CPA board in 2020, has been at
lot of areas,” one insider said. the front of bigger issues impacting the state. He initiated the letter to Trenton
regarding the negative impact of the 2017 Tax Cuts and Jobs Act on the solo
business owner, leading to the passing of legislation focused on the State Corporate Tax Deduction.

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ASSOCIATIONS

Dhiren Amin; Linda Doherty; Marilou Halvorsen


Satish Poondi President; Executive director
President; New Jersey Food Council; New Jersey Restaurant & Hospitality Association
Legal adviser
Indian Business They don’t officially work together, but their two organizations are key players in the state’s
Association ever-growing food industry. “These two associations control billions of dollars in economic
The Indian Business impact to the state,” one insider said. “That’s influence.”
Association continues Doherty is president of the New Jersey Food Council, which is responsible for most of
to be a growing force what happens on the retail side of the food industry. She is celebrating her 25th year.
as the South Asian “She has stood the test of time in many ways, and the one critical thing she does for the
community expands council is providing vision and not straying from the original mission during her tenure, from
its power and when it was founded 50 years ago,” the insider said. “Linda gets fully involved and has been able
influence in the state to help both the large food retailers and manufacturers work together on initiatives and advocate
both politically and for the industry. Whether it’s billion-dollar mass retailers, large consumer package groups or small
economically. Amin family retailers, she and the council have garnered the same respect from all because of her effective work in Trento.”
and Poondi ably serve their members while Halvorsen, the executive director of the New Jersey Restaurant & Hospitality Association, also has overseen a
connecting with the state’s top leaders. vital and effective association — representing restaurant owners, both chain and independent, food distributors and
supply, equipment and service partners through her leadership.
“Whether it is education for the industry, support with resources or advocating and policymaking — especially wage
issues — you’ll find Marilou’s involvement front and center,” the insider said. “She, too, has earned the respect of many in
Tom Bracken Trenton and the many members, from large national chains to small, independent eateries to large liquor distributors.”
CEO and president
New Jersey Chamber
of Commerce
Regina Egea John Harmon
Few association
President CEO and president
heads are as eager
Garden State Initiative African American
and interested in mixing it up as Bracken.
Chamber of Commerce of New Jersey
The former bank executive makes Egea has emerged as a respected leader
sure the state’s top elected officials of an advocacy group that offers fact- Harmon perhaps
understand the needs of the business based research and responses to the summed up his role
community while advocating for its state’s most pressing economic issues, most recently grading best: He advocates
wants. The board of the state chamber is every school district in the state and how transportation costs for the African-
a who’s who of business leaders across are managed. “In a time when so much is promised, she’s the American business
the state. first one to ask: ‘How will that be paid for?’ ” one insider said. community, making
sure it gets more than
talking points. “Many
corporations or agencies in New Jersey like
Dave Brogan Chip Hallock; to talk about diversity — but, sometimes, it’s
Executive director Barbara E. Kauffman not represented in their spend in terms of
New Jersey Apartment Association CEO and president; Chief operating officer
actual contracts with African-Americans,”
and executive vice president
In case you didn’t hear, multifamily Newark Regional Business Partnership he said.
housing in New Jersey is still hot.
Brogan, as head of the Apartment NRBP certainly is on
Association, is a leading advocate in the space. His influence the short list when
— and personality — plays much better, though. Some feel it comes to rating
Debbie Hart
he has the talent for an expanded role on the national scene, the more efficient —
CEO and founding president
others hope he will be a bigger leader in New Jersey. and most effective
BioNJ
— geographical
chambers of For all of the changes
commerce. Hallock in the bio and life
Luis De La Hoz; Carlos Medina and Kauffman and science sector over
Chairman; CEO and president
the NRBP have the years, Hart has
Statewide Hispanic
played an integral been a constant. And
Chamber of Commerce
role in Newark’s her members are
The dynamic duo of Medina and De La rise as a top-flight better for it. “This is a
Hoz covers every angle in the Hispanic place to grow and sector that has changed dramatically; she is
business community, advocating and expand a business. making sure it is changing for the better — or,
educating their members. Anyone who “They represent their members as well as more, making sure New Jersey is positioned
wants to tap into the ever-growing anyone, that’s why they are growing,” one properly,” one insider said.
Hispanic audience and small business insider said. Another praised their events:
entrepreneurial startups would be wise “They get top-notch panels that address
to start here. top issues.”

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ASSOCIATIONS

John Kennedy Jim Kirkos Michele Siekerka


CEO CEO and president CEO and president
New Jersey Manufacturing Meadowlands Regional Chamber of Commerce New Jersey Business
Extension Program & Industry Association
Longtime leader of one of the top
regional chambers in the state, Kirkos
gets an audience with top officials
for one big reason, one insider said:
“Everyone knows he’s knowledgeable Ralph Thomas
and practical. He gives you the truth.” CEO and executive director
He also promotes the area. “He was talking American Dream New Jersey
Society of CPAs
Kennedy is a leading when everyone else had given up on it.”
advocate for all things She represents more Accountants have
manufacturing — working than 10,000 members long been known
with the Legislature — members who have as the most trusted
Brandon McKoy
on the Manufacturing been getting hit with adviser of business and
President
Caucus he helped create, more and more rules and government leaders.
New Jersey Policy Perspective
working with the state regulations. Siekerka isn’t Thomas’ job is to make
to create internship McKoy, who previously served as shy about fighting back. sure they are heard. “It’s a
and training programs, director of government and public affairs, “She’s the one sticking tough job for one reason:
and working with high is replacing longtime leader Gordon up for the businesses The numbers don’t lie,”
schools and colleges to MacInnes, who is retiring. Many insiders who don’t have the time, one insider said. “The last
train a much-needed next felt McKoy was the logical successor. “He’s smart and, like ability or resources to do budget battle would have
generation of workers. Gordon, is measured in his thoughts,” one insider said. “Whether it themselves,” one insider went better for the state
you accept their analysis or not, you have to recognize that there said. if his group’s input was
are numbers behind them.” valued more.”

ROI INFLUENCERS POWER LIST 2019


BANKING

Margaret Anadu John Cole Tom Comiskey


Partner, Executive vice president, Regional president
head of urban investment Northeast business banking M&T Bank
Goldman Sachs regional manager
Wells Fargo M&T has long been a power on the East Coast, but is a relative
She is The recent newcomer to the state, expanding here with the purchase of
based in troubles Hudson City Savings Bank. Comiskey has helped the bank not
New York, at Wells only fight its way into the market, but become a powerful presence in many areas
but she Fargo have around New Jersey. “M&T has quickly become a big player in the state,” one insider
makes never been said. “Tom has a good team with him.”
Newark connected to
a second the business
home as she keys Goldman’s banking area, and certainly not in New
Kevin Cummings
nearly $1 billion investment in Jersey. But that doesn’t mean Cole
CEO and president
the city. “She is the financial hasn’t had to address the issue on a
Investors Bancorp
force behind so much that has continual basis. “No one is signing
happened here,” one insider up for that role,” one insider said. “It’s Some say Cummings is taking a lesser role at the bank, eagerly
said. “She’s strategic and been a tough couple of years, but allowing others to be out front. Others say it’s just the natural
smart. Goldman was in Newark because of people like John, Wells is growth progression of a bank that has shown others how to
long before many others were.” fighting its way through.” dominate a local market.

Linda Bowden Bob Doherty


New Jersey regional president State president
PNC Bank Bank of America

She’s the face of the bank that has more branches The amiable Doherty makes the list for two reasons: He is the New
than anyone in the state. “Everyone knows her, Jersey head of Bank of America, which has more deposits in the state
everyone likes her, everyone respects her,” one insider than anyone else, and he is completing his term as chairman of the
said. Said another: “Everyone talks about how banks are based on personal state chamber. “He obviously oversees a lot of investment in the state — and his willingness
relationships — but, usually, they are not. With Linda and PNC, they are.” and eagerness to serve on the state chamber shows how committed he is to New Jersey.”

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CONSULTANTS

Brendan Gill Maggie Moran Michael Soliman


CEO and president Managing partner Partner
BGill Group Kivvit Mercury

The fact that he’s not officially in Gov. Kivvit is deeply involved
Phil Murphy’s administration shows in the state, working on
just how influential he is. Murphy — energy, corporate, labor
and many other Democratic power and issue advocacy —
Mo Butler players — value his insight. “He has everything from Tesla
Partner more influence that most people think to LiUNA to health
Mercury — and most people think he has a lot,” care to cannabis. And,
Butler was on the list even one insider said. There’s no reason to think his stature won’t while Moran runs the Start with this factoid:
before he was named Cory continue to grow.” show here, she also He helped the most
Booker’s senior strategist has a presence in the challenged candidate
for the 2020 presidential region. She managed the state has seen in a
race — but that selection New York Gov. Andrew decade — Bob Menendez
Michael Kempner
shows the connections Cuomo’s 2018 primary — and not only helped
CEO
he has. Butler reps many re-election campaign in a him get re-elected as a
MWWPR
of the top developers, complicated climate. U.S. senator in 2018, he
elected officials and power Kempner built the largest New Jersey- helped him get re-elected
players in Newark, just got based public relations firm — and did by a bigger margin than
a seat on the New Jersey it while maintaining a national political anyone could have
Performing Arts Center presence. A prominent fundraiser for anticipated. “Trust me,
board and — in case you both President Barack Obama and that effort was noticed
thought he was just a Hillary Clinton, expect him to be behind inside the state and out
North Jersey guy — he Cory Booker in 2020. “You’ve got to of it,” one insider said.
was selected to sit on support the home team,” one insider said. His leadership has
the Casino Reinvestment allowed MWWPR to expand its offerings to clients that run
Development Authority the gamut from Subaru to Tidal, to NJ Transit.
board last fall. “He knows
everyone — and everyone
likes him; that’s a nice
combination,” one insider
Karen Kessler Bill Palatucci Bob Sommer
said.
CEO Special counsel, corporate CEO
Evergreen Partners Gibbons P.C. Awsom Associates

Her firm continues to He didn’t help pull off the ultimate


Mike DuHaime be a leader in crisis — getting a Republican elected U.S.
Partner
management — and senator from New Jersey — but he still
Mercury
continues to grow. Its is the go-to guy in Republican circles in the state. “He always
client list is now national has an uphill battle, but he knows how to win in this state,”
and international. “Karen’s one insider said. “That’s why so many go back to him so
influence continues to often.”
grow at a rapid rate,” one Everyone in the state
insider said. How much knows him — and his
so? Much of her day client list runs the gamut
can be spent on calls from large companies
The Republican Party with people who are not to small businesses to
may be a bit on its heels her clients. Or, at least, individuals. He’s just not
Julie Roginsky
right now, but that doesn’t not yet. “Every day, she as open about it as some
President
make DuHaime any less hears from people who others are — and his
Optimus Communications
of a power player. He’ll just want to get insights clients appreciate that.
always have his party into what’s going on,” the Roginsky is part of the power team at “Hardest-working guy
roots, but DuHaime has insider said. “They know Optimus Communications — and works out there,” one insider
been branching out for she knows people in closely with Assembly Speaker Craig said. An occasional
years — Mercury may every sector.” Coughlin — but she’s powerful in her own right, too, and has Democratic operative,
have more Ds than Rs been for decades. “She’s a trusted adviser to a lot of powerful he is well-known and
— so the depth of power people,” one insider said. Frequent commentator on TV (now, respected on the political
base is strong now and mostly MSNBC); incredibly strong Twitter game. side, too.
will be in the future. “He’s
as smart as they come,”
said more than one
insider.

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ECONOMIC DEVELOPMENT

Leslie Anderson Kevin Corbett Ted Zangari


CEO and president Executive director Chair, Real Estate
New Jersey New Jersey Transit Department
Redevelopment Authority Sills Cummis & Gross
Gov. Phil Murphy made troubled NJ
Transit a big issue in the campaign
due to its tie to growing the economy.
That makes Corbett hugely influential, one insider said.
“Arguably, right now, the most important person in the Murphy Mike McGuinness
administration outside of the governor and (first lady) Tammy CEO
Murphy is Kevin Corbett,” the insider said. “NJ Transit will NAIOP New Jersey
define his administration, and Corbett’s the guy in charge of When Murphy chastised
She’s served three fixing it.” the EDA following the Zangari could have been
governors. More release of a state audit, placed on a lot of pages
importantly, she’s McGuinness was one in this book: Top 30,
served underserved of the first people to real estate, lawyers all
Larry Downes
communities. The fight back — doing it come to mind. The well-
CEO
independent financing in his usual tempered respected lawyer, always
New Jersey Resources
authority has leveraged way. As head of the a leader on incentive
approximately $4 billion His day job is reason enough for New Jersey chapter of rules and regulations,
in new investments, inclusion on the list, but it’s his role real estate association was one of the first in
helping to redevelop and as chair of the New Jersey Economic NAIOP, he’s used to the state to recognize
transform some of the Development Authority that puts him balancing interests while the power and potential
state’s most economically on this page. The EDA has come under advocating for smart of the Opportunity Zone
challenged areas. “Not scrutiny. Many feel that’s not fair — and ways to grow the state. legislation that was passed
enough people know how they point to Downes as a reason. “He is earlier this year. “This
much good she has done a dedicated executive of the utmost character and integrity,” program has the potential
for this state,” one insider one insider said. “That’s reason enough to show the bashing to be the greatest wealth
said. of the EDA is unwarranted.” transfer in the history of
this country,” he said.

Joe Kelley Kevin Walsh Jerry Zaro


Deputy chief of staff Executive director Chair, Banking
for economic growth Fair Share Housing Center and Real Estate
Governor’s Office Services Department
Its influence in the state is diminishing Sills Cummis & Gross
Kelley could just as easily — but that’s only because it has been
be placed on the Top 30 so big. Walsh and his group have been
list, his influence on the at the center of the affordable housing issue, working with
Michael Darcy governor’s economic towns and developers to make sure they are in compliance
Executive director development team is that with all the rules and regulations. As one insider put it: “You
League of Municipalities great. He is lauded for can’t proceed with anything until you’re sure you have his
Working with 565 being forward-thinking sign-off.”
municipalities of all in a job that requires him
shapes and sizes — and to meld the progressive Zaro makes the list for
names — is reason beliefs of his boss with a his role as a trustee
enough to be on any development community on the Gateway
list. Darcy has the that often offers a Development Corp. “The
Melanie Willoughby
unenviable task of trying different viewpoint. “He Gateway Tunnel project
Executive director
advocate for all of them, has to work with a lot of is a parochial moment,
New Jersey Business Action Center
individually and as a different ideologies and and Jerry is the perfect
group, on public policy egos — and, in the end, “The entire organization is set up to be person for that because
questions. The size of do what’s best for the an information source for businesses he knows all the players,
the organization does state,” one insider said. of all sizes,” one insider said. “It’s hard he can get them to the
have plusses: It can be to have more influence than that.” Willoughby, a longtime table, he never says
a powerful voice when government affairs expert, is settling into the role she took anything that people are
everyone comes together. over last May. going to get worked up
about and he plays back
rooms well,” one insider
said. “I don’t see how you
find a better guy for the
role than that.”

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EXECUTIVES

Jim Fakult Ken Frazier Charles Lowrey


President Chairman and CEO CEO
Jersey Central Merck Prudential Financial
Power & Light
“It’s still here, right?” one insider said.
And they are correct. Merck may have
consolidated its facilities in the state
— and finally sold its Whitehouse Station location — but
it has remained true to New Jersey, serving as one of the Alex Gorsky
state’s bio and life sciences anchors, with Frazier leading the CEO
way. Its cancer drug, Keytruda, has made it a darling of Wall Johnson & Johnson
Street, too. The iconic New Jersey The new CEO of
Last March, JCP&L company is a global Prudential is not new
had a judge block a force that has never to leadership roles
much-needed 10-mile forgotten its New or the state. Lowrey
transmission line and Brunswick roots. And, previously served
Josh Harris, David Blitzer
came under fire from the while some say the as chief operating
Co-founders
governor for its supposed company is more officer of Prudential’s
Harris Blitzer Sports & Entertainment
failure to be prepared concerned with its international businesses
for a storm (guessing A tip of the hat national and global and CEO of Prudential’s
Murphy won’t play that to Scott O’Neil profile, one insider said U.S. businesses. In
card again). Fakult and Hugh Weber, its influence in the state addition, Lowrey also
remained cool and found who orchestrate is underappreciated. “I served as CEO of PGIM,
solutions, continuing his so much of what can’t tell you how many Prudential’s global
steady leadership of a the group does meetings I’ve went to investment management
company he has helped in Newark (think with the governor where business, and CEO of
transform and upgrade Prudential Center) and Camden, but they would be the first to tell Gorsky has been there.” PGIM Real Estate.
in all areas since he took you that Harris and Blitzer supply the vision for one of the premier
over in 2013. entertainment franchises in the country.

Kim Ann Mink Carlos Rodriguez Bob Unanue


Chairman, CEO and president CEO
CEO and president ADP Goya
Innophos
He is the head of one of the biggest and
Under Mink’s leadership, most important companies in the state,
Cranbury-based seemingly guiding it through a transition
Innophos is poised to period by using technology to help ADP become a business
Jill Kaplan become a billion-dollar consultant dynamo. More than that, Rodriguez has been a
President N.Y./N.J. brand as a company that leader in pushing diversity and inclusion in the company,
United Airlines partners with clients which does well in all Best Places to Work-type rankings.
She made the unusual to create essential The impact of the
move from publishing ingredients and science- billion-dollar food
to the airline industry backed solutions for the business cannot be
18 months ago, but food, health, nutrition and ignored. “They are an
she has hit the ground industrial markets. While enormous employer,”
running — overseeing doing so, Mink is intent one insider said. “It’s
Susan Story
all of the updates on using her chemistry unbelievable what they
CEO and president
and improvements and engineering have done with that
American Water
at Newark Liberty background to mentor franchise.” And they
International Airport. the next generation of Story has led American Water to new committed to staying.
In addition, Kaplan has girls in STEM. heights since taking over as CEO of “People complain
been ubiquitous at the country’s largest publicly traded about some of the EDA
business networking water and wastewater utility company awards, but this was
events and at speaking nearly five years ago. It was recently a company that could
engagements named one of the 100 most sustainable have easily moved
throughout the state, companies in the country (and, at anywhere, and it opted
giving the airline a No. 23, was tops in the state), earned four “military friendly” to stay here.”
presence in the state it designations and has crushed the S&P index for a decade.
has lacked in the past.

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GOVERNMENT AFFAIRS

Michellene Davis Michael Egenton Andrew Musick


Executive vice president, Executive vice president, government relations Vice president,
chief corporate New Jersey Chamber of Commerce government affairs
affairs officer New Jersey Business &
RWJBarnabas Health Advocating on behalf of the business Industry Association
community for 25 years, Egenton A quiet, but well-
recently celebrated this milestone in his connected player in
career with the who’s who of Trenton, Trenton, Musick has
present and past. A familiar face to all Phil Norcross earned a spot on this
legislators, Egenton is not shy about Chairman list for his depth of
knocking on doors or picking up the Optimus Partners knowledge. Whenever
phone — he knows how the game is played and that quietly The weight the last there is a new issue that
working behind the scenes is sometimes better than the name carries in New affects the business
She appears on many public pressure of union protests. Jersey politics remains community, NJBIA
power lists and rightly undisturbed by a change turns to Musick to parse
so. Davis remains a in administrations, but through the details and
powerhouse in New Phil Norcross is also inform its members.
Jersey, whether it is making a name for
Raul “Rudy” Garcia
on politics, health care himself in the emerging
President
or women and POC cannabis industry. As
MBI-GluckShaw
empowerment. She more players look to
has never been shy of Many know him in Trenton, but few Trenton insiders to help
controversial issues — know his power has extended beyond launch the new economy
and has made some the confines of New Jersey. Garcia has around marijuana,
waves herself — so she wielded significant influence at the federal level in the past Norcross easily makes
is not everyone’s favorite. and is an undeniable powerhouse in the Garden State. the list.
But no one can question
her natural talent. She
can make calls and lobby
at the local, state and
federal level with ease, all
thanks to her networking
prowess.
Dale Florio Bill Pascrell Trish Zita
Managing partner Partner Principal
Princeton Princeton Public Affairs Group Kaufman Zita Group
Public Affairs Group
Cannabis is going to be big this year.
Leading one of the most And anyone who has done prep work
well-known lobbying firms in 2018 is going to coast easily through
on West State Street, the process. Pascrell is one such individual, who has been
Florio is no stranger to very visible in both the behind-the-scenes process and in
the halls of the State the awareness efforts around the state. He has spoken on
House. And he’s also numerous panels and figures to be a leading voice in the
Uli Diaz a voice the business industry. Some call her a pioneer,
Vice president, community seeks on their others call her an
government affairs
behalf and has a deep inspiration — everyone
Horizon Blue Cross Blue
Shield of New Jersey understanding — with calls her a really good
more than three decades lobbyist. The Kaufman
The secret weapon in of experience under his Zita Group is one of the
Christine Stearns
Horizon’s arsenal, Diaz belt — of how changing most respected and most
Director, government affairs
has made a splash in the political tides are going sought-after in Trenton.
Gibbons P.C.
past few years with the to affect the business of It just doesn’t necessarily
tussles the insurer has New Jersey. Few people in Trenton can walk through brag about it. “Trust me,
found itself embroiled a room silently but powerfully. When they have no shortage of
in. Whether dealing with Stearns is in a legislative committee people wanting to have
the OMNIA fallout, a hearing or in the State House, it doesn’t go unnoticed. It’s why them on their side,” one
raid on the company’s she heads the Trenton office for one of the most powerful insider said. “And Trish is
reserves or handling the lobbying firms. An authority on health care and an expert a big reason why.”
third-party administrator networker, Stearns’ energy and mile-a-minute thinking keep
discussion, Diaz is a people on their toes when she is debating an issue.
familiar face in Trenton’s
halls and knows how to
work a room.

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HEALTH CARE

Cathleen Bennett Brian Gragnolati Andrew Pecora


CEO and president CEO Chief innovation officer
New Jersey Atlantic Health System Hackensack
Hospital Association Meridian Health
The CEO of Atlantic Health System
remains a relatively quiet but powerful
figure in the state. Outside of it, he has
taken on a new role as board chairman
of the American Hospital Association. Marlene Caride
Last year, Gragnolati played a lead Commissioner
of banking and insurance
role in the formation of a consortium
State of New Jersey
of hospitals, which are focused on greater transparency
After leaving public and lowering costs of care — starting from within their own Leading the state’s From an invitation to the
service to represent facilities. goal to maintain a Vatican and annual visits
the industry she once semblance of the to Davos, Switzerland,
regulated, Bennett has Affordable Care Act, Pecora is a highly
continued her efforts Caride’s efforts helped regarded innovator
Tomas Gregorio
to push New Jersey’s lower premiums from and cancer doctor. He
Senior executive director, Healthcare Systems Innovation
hospital systems into a double-digit increase also has expanded his
New Jersey Innovation Institute
a more connected era. to a minimal decrease influence in the state
Since taking the helm, NJII is at the forefront of health care for 2019. Though she by working with NJII on
Bennett has led NJHA innovation through technology, enabling hasn’t had a very public innovation and startups,
through a change in it to become an increasingly powerful presence, that figures as well as through his
its strategy to play a force in the health care space through to change as Gov. Phil role with a new research
more proactive role as its various partnerships with health Murphy revamps his facility affiliated with the
a thought leader, rather systems and educational institutions. efforts to establish a new medical school in
than as a defensive entity Its most recent achievements include public bank. The former Clifton and Nutley.
in the legislative process. the Master Person Index, which feeds into the Department of legislator will play a role
Health’s New Jersey Health Information Network. in regulating the bank, if it
is developed.

Dr. Shereef Elnahal Kevin O’Dowd; Anthony Mazzarelli


Commissioner of health Co-presidents
State of New Jersey Cooper Health System

In a move that could set a new tone


for co-leadership in the state, the duo
is set to become co-CEOs of South
Jersey’s busy Trauma I hospital, which
Jeff Le Benger has flexed its political muscles in recent Mark Rosenberg
CEO years. O’Dowd, a former chief of staff Chair
Summit Medical Group, of emergency medicine
to Gov. Chris Christie, and Mazzarelli, a
Summit Health Group St. Joseph’s
The young commissioner longtime Cooper doctor, strike a balance Healthcare System
has made an impact on The CEO of the state’s of business and health care that could
the health care industry largest physician group mimic some of the largest nonprofits in Setting the nation’s
in just one year — and is increasingly showing the country. agenda on curbing opioid
in a number of ways. off his business savvy addiction is no easy
Whether pushing a with a number of internal feat, but Rosenberg is
progressive agenda and external moves in the doing just that. From his
through expanded past year. Summit Health team’s work developing
medical marijuana Group has expanded into the Alternatives to
Don Parker
use and focusing on Oregon and Arizona, and Opioids, or ALTO,
President
interoperability of is increasing its capacity program and subsequent
Carrier Clinic
electronic health records with administrative support from New
or fighting the backlash support technology — Choosing to merge with the state’s Jersey’s congressional
that came from a virus which it offers to its entire largest health system, Hackensack representatives,
outbreak at two hospitals, physician network. One Meridian Health, was a bold move, Rosenberg found himself
Elnahal has handled insider said Le Benger is but the exclusivity of research and therapies in mental and in Washington, D.C.,
everything with poise. the rare combination of a behavioral health — an increasingly important sector for pushing for federal
medical professional and health care business — makes Carrier Clinic a powerhouse. funding to expand the
an entrepreneur. Parker, its president, will now focus on behavioral health and success of ALTO into all
health technology in this new space. 50 states. 

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HIGHER EDUCATION

Robert Barchi Nariman Farvardin


President President
Rutgers University Stevens Institute of Technology

The departure of Rutgers-New Brunswick Chancellor Deba Dutta, after just one year, told one insider
two things: “Barchi still is in complete control of the university,” and, “He isn’t going anywhere anytime
soon — despite speculation to the contrary.” It also allowed Rutgers to elevate Chris Molloy to
chancellor of the flagship campus, a perfect role for the Rutgers grad and longtime administrator.

Earlier this winter, Stevens was


ranked No. 12 on the list of the 50
most underrated colleges in the
Joel Bloom Susan Cole country. We could only ask: How
President President
could anyone rate them anything
New Jersey Institute of Technology Montclair State University
but high? Under Farvardin, the
Bloom shows no signs of Cole continues to transform MSU. school has consistently been
slowing down — both in his role Last fall, the school announced ranked as a best buy, as well as
as president and in his push to SOAR, a transformative fundraising for best starting salary among
elevate NJIT on a national scale. campaign aimed at raising $75 graduates, best mid-career
The university’s jump to No. 106 on million to better educate the next salaries and smallest male-female
the prestigious U.S. News & World generation of leaders, sustain a wage gap among graduates.
Report rankings (a leap of 34 spots) vibrant research and academic
shows word is getting around about the Newark STEM community, and enhance the school’s student-centered
school that continues to upgrade its students, faculty campus — all while increasing college accessibility.
and facilities.

Nancy Cantor Christopher Eisgruber Sue Henderson


Chancellor President President
Rutgers University-Newark Princeton University New Jersey City University

Newark always has prided itself The top school in the country NJCU continues to be one of the
on being a college town, but, since continues to increase access best examples of higher education
Cantor came aboard, Rutgers- to members of underserved in a multicultural environment (in
Newark has shown an increased communities, continues to be on other words, it copies the state) and
appetite the forefront of entrepreneurship a landing spot for first-generation
to be (it opened the Princeton Innovation college students. The business
integrated Center BioLabs last summer), school — in a beautiful building on
into the continues to embrace next-generation technology the waterfront — is one of many ways the school takes
business (Google opened an artificial intelligence lab there in advantage of its Jersey City location and proximity to
community. January) and continues its outreach to the New Jersey New York City.
“Everyone in business community.
the business community knows
her and loves the work she is
doing,” one insider said. “They have
been a real partner in the growth
of the city.”

Ali Houshmand
President
Rowan University

Houshmand recently was honored as Educator of the Year by the R&D Council of New Jersey. It’s just
the latest award for a man whose vision has helped turn Rowan into one of the top up-and-coming
universities in the country, especially when it comes to STEM. The South Jersey school is becoming a
go-to choice for North Jersey residents looking to “get away” without leaving the state.

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LAWYERS

Ed Deutsch Angelo Genova


Founder and managing partner Co-founder, chairman
McElroy, Deutsch, Mulvaney & Carpenter and managing partner
Genova Burns
Over his 36 years at the helm, Ed Deutsch has sought to work effectively with both political parties. It’s
why his firm has lost no momentum with Murphy as governor. McElroy Deutsch’s hiring a number of
Graham Curtin attorneys was one of last year’s largest law firm deals; and the firm’s big win for the New
Jersey Thoroughbred Horsemen’s Association is a landmark sports betting case that’s expected to
create a $10 billion industry for the state.

Sometimes it’s easiest just to let


others speak about the person.
“Few people have the gravitas of
Patrick Dunican Nancy Erika Smith a guy like Angelo Genova,” one
Chairman and managing director Co-founder and partner
insider said. “He’s a superstar.”
Gibbons P.C. Smith Mullin
Another put it this way: “He’s a very
Almost all of our insiders feel Longtime workplace lawyer Smith quiet, unassuming guy, but don’t
Gibbons is the most influential firm has become a national leader on be fooled,” they said. “He runs one
in the state — because of Dunican’s harassment and assault issues (her of the top firms in the state. He
smarts, style and leadership. “He latest client is the woman making owns it himself. It’s his firm.” Said
is a powerhouse,” one insider said. allegations against the lieutenant another, simply, “Everybody loves
“It takes a big personality to hold governor of Virginia). Her (ongoing) and respects them.”
together such a top firm for so long; role in the Katie Brennan sexual
he makes it looks easy.” His team helps, too. “They have a assault case showed her impact as well. Simply put,
lot of top lawyers,” said another insider. “And the Gibbons she tells it how it is — and how it should be — and some
public affairs team is as good as it gets.” people still aren’t comfortable with that.

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LAWYERS

Joe Hayden Frank Giantomasi Philip McGovern


Member Member, Real Estate, Development and Land Use Group Managing partner
Pashman Stein Chiesa Shahinian & Giantomasi Connell Foley

He’s known for his big presence (and Plenty of praise for
Michael
big personality) in Newark, but the McGovern. He’s a
Critchley
name partner who helped Wolff & lawyer’s lawyer, a
Partner
Samson transition into CSG Law — one worthy adversary,
Critchley,
Kinum & Denoia of the most influential firms in the principled. But one
state — is so much more than that. He insider said it’s his
Gerry Krovatin serves as the redevelopment counsel persona that has
Partner on the MOTBY site in Bayonne as well as the former NJDC helped make Connell Foley one of the top
Krovatin Klingeman site in Totowa. “Frank’s a legend and a real power player,” one firms in the state. “His keen sense of humor
insider said. combined with his legal ability makes him
How’s this for a a magnet for talent, which has attracted
comment? “Those quality clients and lawyers. It’s why Connell
three are like the Holy Foley is the regional powerhouse law firm it
Trinity of politically is today.”
connected defense
lawyers,” one insider
said. “These are the
guys the big people call when they need
Chris Porrino
the best.” That was evident this winter,
Partner
during the Brennan investigation. State
Lowenstein Sandler
Senate Democrats hired Critchley, while the
Assembly Democrats hired Hayden. He’s a former attorney general and former chief counsel to Gov. Chris Christie — but don’t view
him through a partisan lens, one insider said. “(Gov. Phil) Murphy thought enough of him to
hire him to defend his team (at the recent Katie Brennan hearings),” the insider said. “Why?
Because he’s just a great lawyer and a star at Lowenstein.”

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PHILANTHROPY

ABOUT THIS PAGE


Monica C. Smith
There are many ways to have influence in New Jersey, but perhaps none is greater than giving back. We know there are a lot of
Founder
folks who give generously in their communities — many of whom do not want the accolades. “Do good to
Bring Dinner Home/One More Smith
do good” is a common phrase. This year, we offer four leaders who have gone (way) above and beyond
to have an impact in the state. We hope you’ll be inspired by the stories on this page to find a way for you, As the
or the company you work for, to make a difference. And we’ll offer philanthropist Ray Chambers as the founder of
ultimate example. The Jersey icon has donated his time, effort, smarts and money all over the state and Marketsmith
the world. Most recently, he was a key (behind-the-scenes) consultant in Newark’s bid for Amazon’s HQ2. Inc., one
“The Amazon bid would not have had the same impact without Ray,” one insider said. “He invests and of the top
donates in Newark at the same scale he does globally — with generosity, humility and love.” women-
owned
digital marketing firms on the East
Coast, Smith is a regular on our
Chuck Anania technology list. This year, we honor
Owner and ‘chief roof giver’
her for her philanthropic work.
Roof4Roof
One More Smith, which was
Anania uses his residential roofing and remodeling company in Carlstadt to make a difference. What he founded in 2004, provides a forever
calls his “for-profit, for-progress” company has helped more than 800 needy families around the world home for animals, mostly cats that
with free roofing and other emergency home repairs. have been neglected or abandoned.
Anania says it’s his way of combining social entrepreneurship with his commercial and residential roofing business. “I Bring Dinner Home is the
made a conscious decision as a Christian and as a father to, quite frankly, make less of a profit,” he said. featured event of a program that
And not just in New Jersey. Roof4Roof has offered assistance following natural disasters in places of poverty such as helps support Camden Street
Colombia, the Philippines and Guatemala — and Anania was one of the first volunteers in Puerto Rico following Hurricane Maria. School in Newark year-round since
Last year, Anania established Contractors4Change, a 501(c)(3) charity working in conjunction with Roof4Roof. “We wanted to do 2011. Last Thanksgiving, the event
more, so we incorporated Contractors4Change to encourage more people to contribute by getting tax write-offs for their donations provided dinner for more than
and to get other contractors involved to do larger projects,” he said. “Maybe we could do something like an ‘Extreme Makeover’ here 1,000 people along with distributing
locally, two to four projects a year, with electricians, plumbers, carpenters and other people outside of our specific expertise.” more than 1,000 coats. Throughout
the year, the group provides
learning materials to help support
programs as well as items to help
Alfa Demmellash students have a more stable home
CEO
life, including funding a Camden
Rising Tide Capital
Cares room at the school. It
The Jersey City-based organization recently honored 248 graduates of its Community Business features washing machines for all
Academy, Rising Tide Capital’s 12-week training program for entrepreneurs on how to start, grow and families to use as needed.
sustain a business. The program, which began in 2006, now has more than 2,500 alumni. Smith said she would like
Demmellash, the co-founder and CEO, said the program’s history of success is evident statistically. Within two years of nothing more than to see other
graduating, its entrepreneurs achieve a 112 percent increase in their business sales, a 58 percent increase in household companies follow her example
income and a 48 percent reduction in the use of public assistance. of corporate giving. “We have not
“The Community Business Academy is the bedrock of Rising Tide Capital’s mission to help entrepreneurs chart a path yet met what we’re seeking to do,”
toward economic independence and sustainability by providing them with the necessary tools, training and knowledge capital,” she said. “What we haven’t been
she said. “Rising Tide Capital entrepreneurs are talented and innovative, but often lack access to resources and networks.” able to achieve yet is the ability
Demmellash is changing that. for somebody else to be inspired
“After graduation, our entrepreneurs begin their journey toward their business goals with the guidance of our vast network enough to be able to do the same
of business experts, who continue to provide support and mentoring,” she said. “As a result, these visionaries — most of for Passaic, or Paterson, or Camden,
whom are from underserved communities — are helping to create more inclusive, attainable and opportunity-generating local or Trenton. There are plenty of
economies.” schools that need an angel.”

Joe Jingoli
Founder
F.A.R.M. Team

Jingoli — often in partnership with Jack Morris — provides mentoring and job training opportunities for members of the communities where they
build projects. As partners in the Hard Rock Hotel & Casino Atlantic City, the two work with Friends in Action, a local Atlantic City nonprofit, to offer a
unique 12-week job training program for local residents, teaching them the skills necessary to begin a career in the construction industry. Jingoli and
Morris are involved in many such programs across the state, but Jingoli lands on this page for the F.A.R.M. Team project he started on a farm in Lawrenceville.
The F.A.R.M. Team (which stands for Facilitating Active Recovery Mission) exists to serve as a vehicle to help men and women in recovery. “The purpose is to create a safe,
friendly environment, where people can come in early recovery and learn transferable job skills,” Jingoli said. “The F.A.R.M. team’s mission is to facilitate the progress of young
adults in recovery by providing a unique combination of focused mentoring and life skills with the goal of helping them enter a career within an established organization.”
Participants can learn job skills as well as participate in equine-assisted learning. The F.A.R.M. team also provides grants and scholarships to assist individuals when
acclimating into the working world (including getting a driver’s license, providing transportation to work, providing safe housing in sober facilities and paying outstanding
fines that may be preventing employment).

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POLITICIANS

Steven Fulop Josh Gottheimer Mikie Sherrill


Mayor, Jersey City U.S. House, 5th District U.S. House, 11th District
Democrat Democrat Democrat

Gottheimer has been making a name


for himself in Washington, D.C., with
the Problem Solvers Caucus, which he
co-founded. The caucus allows him to do two things every
politician says they’ll do: He works across the aisle and he Frank Pallone
gets things done. Gottheimer has been able to maintain a U.S. House, 6th District
strong presence in the state, where he is frequently meeting Democrat
with (and solving the problems of) his constituents. He’s the ranking member Too soon to say a first-
There may be no better of the Energy and term congresswomen
example in the state (or Commerce Committee, is influential? Consider
the country) of how to one of the most this: She was viewed
mix progressive social powerful committees as being so formidable
Bob Menendez
ideals with an economic in Washington, D.C. “All that the chair of
U.S. Senate, New Jersey
development mission things pharmaceutical the Appropriations
Democrat
embraced by the biggest go through him, all Committee decided to
of capitalists. Fulop is With a recent approval rating of 40 things energy, all things retire rather than run
not without enemies percent and the ethics investigation environmental — all against her in a long-
or controversies, but behind him, the state’s senior senator things that are really held Republican district.
his record speaks for continues to be a voice for the business important to New Jersey,” The victory, one insider
itself. He runs the city and immigrant communities in one insider said. “He’s said, should be a lesson
that businesses — and Washington, D.C. He won big in what the most powerful for Democrats. “She
millennials — want was expected to be a tough battle for re-election in 2018. congressman from showed that you need
to be in. That’s a nice Since then, he has mostly been flying under the radar, but Jersey right now.” to be independent and
combination. continues to fight for New Jersey — and against President moderate to win.”
Donald Trump.

Steve Oroho Eliana Pintor Marin Troy Singleton


State Senate, 24th District State Assembly, 29th District State Senate, 7th District
Republican Democrat Democrat

The Assembly budget chair for the


second year, Pintor Marin has made
a name for herself in her handling of
last year’s budget battle, as well as serving as a co-chair of
Vin Gopal the investigation into how those on the governor’s campaign
State Senate, 11th District team handled Katie Brennan’s sexual assault allegations. She
Democrat may be spotlight-shy, but she is a force to be reckoned with,
A moderate voice in insiders say. The South Jersey
the state Senate, Gopal He’s an accountant Democratic senator,
has proved his chops and a businessman. and member of the
as a junior senator But that’s not what George Norcross nexus,
representing the 11th makes him unique. He is a powerful legislator
District. Gopal has works across the aisle by many accounts.
Paul Sarlo
been unafraid to vote in an effort to serve his Facing Singleton during
State Senate, 36th District
against the party lines constituents, especially hearings often means
Democrat
on some of the most on business issues. being asked pointed and
consequential legislation Here’s how one insider The Senate budget chair and a longtime hard questions about
— most notably in the described him: “His best Democratic powerhouse, Sarlo the economic or social
fight for a $15 minimum friend in the Senate continues to hold the key to the state’s justice benefits of a bill.
wage. In a letter following is (Senate President) budget priorities. He is also pursuing a Someone clearly on the
the vote, Gopal explained Steve Sweeney. He’s radical change to the state’s handling of rise in Trenton; he could
why he voted against it a Republican, Steve’s health benefits contracts with insurers, be a candidate for higher
and the negative impact a Democrat, but they aiming to cut costs incurred from third- office.
it could have on small put their philosophical party administrators. “He’s just one of those people worth
businesses. differences aside for the watching for the future,” one insider said.
good of the state.”

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REAL ESTATE

David Barry Mike DeMarco


President CEO
Ironstate Development Co. Mack-Cali Realty

What is Barry doing in Jersey City — a landscape he has dominated with projects for the last 15-plus He continues to transform the
years? Better question: What isn’t he doing? “He’s involved in everything,” one insider said. “He’s either largest real estate investment trust
building it or helping to finance it.” There’s always a spot on the list for a key economic developer in a in the state from its new offices
key city — and Ironstate is now expanding westward, spearheading the $135 million redevelopment in Jersey City, the location for its
around Montclair’s Wellmont Theater. most ambitious project to date:
Harborside Tower, a 1.2 million-
square-
foot office
complex that
could further
Wasseem Boraie Gene Diaz change
Vice president Principal
the city. All
Boraie Development Prism Capital Partners
it needs
The first market-rate housing The ON3 project on the former is an anchor tenant to begin
project in Atlantic City in five Roche campus in Nutley and construction. In the meantime,
decades, 600 North Beach, opened Clifton continues to draw interest DeMarco has spearheaded the
to much fanfare last year. One and create news. Phase II of the company’s effort to shed low-end
Rector Street, one of the first new Hackensack Meridian School office buildings and ramp up high-
market-rate housing projects in of Medicine is expected to be end multifamily construction.
Newark in decades, is right behind. completed this spring, while Prism
Boraie, however, is just getting started. There are bigger has just announced the start of the first new ground-
plans in Newark and elsewhere on the horizon. up projects at the 116-acre campus, including a new
spec lab building. Meantime, a major tech company is
expected to announce it is headed there soon.

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REAL ESTATE

Jon Hanson; Jonathan Kushner Ron Ladell


Jimmy Hanson President Senior vice president
Founder and chairman; Kushner Real Estate Group AvalonBay
CEO and president
The Hampshire Cos. Another big player in Jersey City, Ladell has been at the top of
Kushner is plugging along on the the multifamily game for years,
The first iconic Journal Squared project, developing communities up and
family of having broken ground and secured down the state. His next project will
real estate in $258 million in construction be his biggest. Ladell is the master
New Jersey financing for its second tower. The developer of the $300 million
shows no project is transforming the historic mixed-use development project
signs of hub of Jersey City, but KRE also has a huge presence (800 units of housing, 37,000 square feet of retail, 50,000
slowing around the state. square feet of open space) that will bring a downtown to
down. And, West Windsor at the Princeton Junction train station.
as always,
stays ahead
of the curve.
“Who was
the first
big player to have an Opportunity
Jeff Milanaik
Zone fund?” one insider asked,
Principal, Northeast
and then answered: “Hampshire,
Bridge Development Partners
of course.” While Jimmy Hanson
handles most of the day-to-day In a state where industrial is king, Milanaik is at the top of the mountain. The veteran, well-respected
operations, his father remains a developer has a pipeline with several million square feet in New Jersey and a proven track record for
powerbroker whose knowledge getting projects done at challenging sites. That means he is poised to ride the e-commerce and last-
knows no end. mile wave as well as anyone in the region.

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REAL ESTATE

Sam Morreale Steve Pozycki


Founder/managing partner Founder, chairman and CEO
Vision Real Estate Partners SJP Properties

Vision has filled its pipeline with one creative, ambitious office project after another in places like Redeveloping the old
Parsippany, Morris Plains and Morris Township. Now, the true test is whether it can land the type of Westinghouse site in Newark
blue-chip tenants that will make those bets pay off. Don’t be surprised if that happens. Morreale and his would be another game-changer
partner, Ross Chomik, have pulled it off before and can pull it off again. for the city. Getting the job from
start to finish won’t be easy. In
other words, it’s something SJP
has the skills
to pull off.
There’s a
reason other
Jack Morris; Joe Jingoli Wendy Neu property
Founder, CEO and president; CEO Chairman and CEO
owners and
Edgewood Properties; Joseph Jingoli & Son Construction Hugo Neu
developers
The pair are Kearny Point continues to develop seek out Pozycki’s team to make
now most — and is showing its potential to be projects come to life. Look no
known for a game-changer for the state. Put further than Mack-Cali’s DeMarco,
their work another way, one insider said, the who has brought in SJP to help
in helping to risk is paying off: “She identified the develop the Harborside Tower
open the Hard moment when it made sense to do project.
Rock Hotel & something different and new. And
Casino in Atlantic City, but they have worked together on the insights that she showed there would not have come
projects up and down the state. More so, they are known from traditional real estate developers.”
for doing right by the communities where they build,
using — and training — local residents for careers in the
construction industry.

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REAL ESTATE

Ed Russo John Saraceno Jr.; Joe Taylor


CEO and president Jonathan Schultz CEO and president
Russo Development Co-founders and managing principals Matrix Development Group
Onyx Equities
He may be Matrix continues to plug along with
the most They are the development leaders a pipeline of well-located industrial
prolific of an investment team that has projects and has been leading the
multifamily purchased three of the four charge in less-established markets,
developer in Gateway towers in Newark. And including Salem County and Staten
the state — they are promising to do what no Island. And the company remains a
and does it other developer has been able to: player in Newark, where Taylor was
in a way one insider feels has huge Turn Gateway into an outward a key figure in the city’s bid to land Amazon HQ2.
impact. “He is delivering these facing mixed-used facility that
units in places that are going anchors the center of the city. “If
to change the way people use they get Gateway right,” one insider
downtowns, and it’s not downtown said. “It will forever change Newark.”
Hoboken or Jersey City, it’s
downtown Waldwick, Union and
Garfield, places that are desperate
for activity in order to substantiate
Ralph Zucker
(themselves).”
President
Somerset Development

Bell Works continues to be a transformative project that inspires. The space has successfully
transformed the past into the future. One insider put it this way: “It used to be an example of what
could be of the state’s numerous white elephant office parks. It is now the standard of what any project
should be now — and in the future.”

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TECHNOLOGY

Jim Barrood Donald Katz Marcus Weldon


CEO and president CEO President
New Jersey Tech Council Audible Bell Labs

He not only built one of the most The biggest no-brainer


successful tech companies in the state on the list. Bell Lab
— one that has the backing of Amazon continues to be active,
behind it — he’s helping to create new continues to innovate,
ones. He helped found Newark Venture Suuchi Ramesh continues its legacy role
Partners, an early stage venture capital Founder, CEO of leading the way in
fund investing in innovative business Suuchi New Jersey. “We should
The head of the most technology companies in an effort to build a technology be hearing more about
important tech group ecosystem in Newark. One of the fastest- (what) they are doing,
in the state, Barrood is growing companies in because they are doing a
charged with keeping the state, Suuchi Inc. lot,” one insider said.
the diverse ecosystem represents what happens
together. “He’s a key when technology
Eric Levine
part of the sector,” one meets manufacturing.
Shareholder and executive vice president
insider said. “There are Something one insider
Lindabury, McCormick,
a lot of different parts to said is key: “Marrying
Estabrook & Cooper
technology — different technology to other
groups and associations Levine, the co-chair of Lindabury’s sectors is a key to
— and there’s the fact Cybersecurity and Data Privacy Practice growth.” Said another:
it touches all sectors. Group, is an expert in the ever-growing and ever-changing “She’s just a great story of
Jim tries to ensure New field. “If you do not address the issue, and you bury your head a New Jersey company
Jersey has a unified front in the sand, chances are, if and when you are confronted using technology to
it can show to others.” with a data breach, you will be woefully unprepared,” he grow.”
said. “Statistics will tell you that small and medium-sized
businesses that are unprepared for cyberbreaches tend not to
survive them.”

Jim Gunton;
Aaron Price Donald Sebastian; Judith Sheft Steve Socolof
Founder CEO and president; Associate VP Founder and managing
NJ Tech Meetup New Jersey Innovation Institute partner; managing partner
Tech Council Ventures
In 2010, he founded The longtime leaders of NJII were easy
NJ Tech Meetup, one picks, because they are examples of
of the first of its kind in how technology and higher ed can work
the state. And, in 2016, together. Said one insider of Sebastian:
he created Propelify, a “He knows the ecosystem better than
tech festival in Hoboken anyone, because he’s been in it for as
Chris Sullens that has brought in long as anyone.” Of Sheft: “She’s an
CEO as many as 10,000 enthusiastic supporter and a great
CentralReach people. “He is one of the person to collaborate with.”
The former head of people who understood
WorkWave is now the value — and the
building CentralReach necessity — of creating
at Bell Works. More a tech community where
Stephen Welby
than that, he’s setting everyone helps each
Executive director and chief operating officer
an example for other other,” one insider said.
Institute of Electrical and Electronic Engineers
leaders. “He’s one of the The two veteran tech
most well-known CEOs,” The head of one of the most important industry investors/
one insider said. “And, tech associations in the world is in executives oversee the
while the company is Piscataway. An industry icon, one venture fund for the New
still small, he’s a good insider said, the state is lucky to have Jersey Tech Council. It
example of a CEO who is him here. “He is one of the smartest partners with early-stage
committed to nurturing people in the state. He understands the entrepreneurs to build
tech at the state.” future and is impacting it.” leading-edge businesses
that drive superior
returns for investors and
economic growth in the
community.

44
ROI-NJ.COM February 25, 2019 ROI-NJ RETURN ON INFORMATION-NEW JERSEY

ROI INFLUENCERS POWER LIST 2019


UNIONS

Greg Lalevee Kevin McCabe Bill Mullen


Business manager President President
International Union Carpenter Contractor Trust New Jersey State Building and Construction Trades Council
of Operating Engineers Local 825
Long viewed as an up-and-coming As head of the New Jersey State
He serves as a forceful advocate star, some say his time is now. “He Building and Construction Trades
for the Gateway project while could be on the list in any number Council, Mullen oversee 15 unions
also letting government allies of areas,” one insider said. “He is and more than 150,000 members.
know when they are not looking the Middlesex County Democratic One of those members is state
out for the chair, so he works closely with Senate President Steve Sweeney.
commuting the (Assembly) Speaker, he is a This, along with the backing of
public … commissioner at the Port (of New York and New Jersey), union supporter Gov. Phil Murphy, ensures Mullen’s
and his so he is in touch with top leaders on both sides of the sphere of influence in the state remains strong and wide.
members.  river, and he is a key player in one of the most important
What’s unions, the carpenters.”
more, he
is an innovator investing heavily
in Local 825’s training program
that will soon have college
accreditation.  That’s free tuition
for his membership, which is now
Ray Pocino
at an all-time high.
Vice president and Eastern regional manager
Laborers International Union of North America

He serves as vice president and Eastern regional manager of the Laborers International Union of
North America — and sits on the boards of three big New Jersey organizations: the Port Authority, the
Turnpike Authority and Choose New Jersey. Then there’s this from an insider: “He’s the head of the
laborers — what would you do without the laborers?”

45
ROI-NJ RETURN ON INFORMATION-NEW JERSEY February 25, 2019 ROI-NJ.COM

CONTINUED FROM PAGE 3 the Russell 3000 index had three or more recommendations, but that doesn’t mean we the next generation of female scientists and
women on their boards. And women hold are forgetting what we’ve said in the past. leaders in the process.
many of them across the state of New Jersey. only 17 percent of the board seats among “Companies need to look beyond the Judith Spires is the well-respected head
We just need to continue to create the those companies. Amazingly, another 22 of usual places to find talent, because it is out of Kings, a position she was recruited away
visibility to it.” the 95 did not have a single woman on their there.” from another grocery chain to take.
The Executive Women of New Jersey is board. Consider: The list goes on and on: Susan Cole has
one of the leaders in doing that. EWNJ President Barbara E. Kauffman Susan Story, the CEO of American built Montclair State into the powerhouse
Its biennial report, “A Seat at the Table,” said the report, which will come out for the Water, is one of the top executives in her college it has become … Suuchi Ramesh
charts the number of women on boards in fourth time this fall, is making a difference. sector nationwide. is head of the fastest-growing technology/
the state. “We feel we’ve established a track Kim Ann Mink, the CEO of Innophos, manufacturing company in the state …
The last report, released in 2017, showed record with documentation,” she said. is using her STEM background to create a Aisha Glover ran Newark’s bid for Amazon
that only 22 of the state’s 95 companies on “Everyone knows there will be additive billion-dollar company while bringing up … Maria Rollins heads one of the most
respected accounting firms in the state
(and one of the best to work for) … Mikie
Sherrill was elected to the House, just
the seventh women in history from New
Jersey.
And then there’s United Airlines, which
hired Jill Kaplan — a former publisher — to
run its New York/New Jersey operations.
The company just wanted a strong leader
and a strong businessperson. Industry
experience was not required.
That’s the out-of-the-box thinking the
state needs more of.
Have there been failures? Absolutely.
And that’s OK.
And it doesn’t mean women are not
qualified.
Siekerka pointed to Denise Morrison,
who could not get Campbell’s turned
around as CEO.
“She was just named to two boards,”
she said. “So, clearly, people recognize her
leadership and her ability to lead and be part
of a critical team.”
Women, Kauffman said, are longing for
the chance to have a chance. And for the
highest positions, too.
“When women are elevated, they often
are elevated to non-P&L positions,” she
said. “So, when it comes to being promoted
again, they are not in consideration for the
highest rungs in the company.”
Kauffman recognizes men play a role
in the issue, too — and points to New
Jersey Resources CEO Larry Downes and
RWJBarnabas Health head Barry Ostrowsky
as two who have championed the cause.
And then there’s Gov. Phil Murphy,
who made it a point to have the first
administration with more female
commissioners than males.
“We are making history,” Murphy said
at the time. “For the first time in New Jersey
in 242 years, the majority of the governor’s
cabinet appointees will be female. It has
taken us a short 56 governors to get to this
point.”
Let’s hope a year from now our list will
be at a different point, too.
Then we will be able to shed light on
another issue: The low number of minority
power players and executives.
— Tom Bergeron

46
Northeast Carpenters & Contractors
ONE UNION, MANY FACES

DOWNLOAD
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Raritan Plaza II
91 Fieldcrest Ave, 1st Floor, Edison, NJ 08837
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Phone: 732-225-1300
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ROI-NJ.COM February 25, 2019 ROI-NJ RETURN ON INFORMATION-NEW JERSEY

Economic Development

Who’s
This report originally appeared in ROI-NJ’s February 4, 2019, issue

Smart Growth coalition, NJPP think tank dive into


controversial state audit of EDA’s tax incentive program

on the hook?
BY TOM BERGERON
tbergeron@roi-nj.com

T
he headlines and talking points were easy: The state spent $11 billion on tax breaks for
huge companies — with little to show for it.
But is that what the recently conducted audit of the New Jersey Economic Development
Authority’s tax incentive program by the Office of the State Comptroller really said?
To separate fact from fiction, ROI-NJ turned to a powerful voice of the economic development
community, the Smart Growth Economic Development Coalition, and a critic of public financial
incentives, New Jersey Policy Perspective, to get to the truth about everything you want
to know — or need to know — about the recent audit.
Here are their answers, some of which were edited for space:

}
NJPP:
No. As of February last year, the EDA (had) approved $10.9 billion in tax subsidies
for 1,000 projects. Between 2005-17, just 401 of those projects completed the necessary
requirements for creating jobs and/or making capital improvements, which allows those
businesses to ‘cash in’ their tax credits totaling $3.4 billion. As of the end of 2017, only
$700 million — less than a quarter — has been paid out, but that is expected to balloon
Gov. Phil Murphy, in his State of the
State message, said the state has very soon. The state budget is facing over a $1 billion loss per year from 2020-23, should
doled out $11 billion in incentive all qualifying businesses decide to cash in their full subsidy amount. And the true long-
dollars under the Grow New Jersey term fiscal impact is yet to come for at least the next 15 years as the backlog of tax credits
program. Is that accurate? is paid out.

SGEDC:
If ‘doled out’ means actually paid out to companies, then no, the state has actually paid
out only $697 million. On the other hand, if ‘doled out’ means the amount of tax credits
awarded to companies that can be earned in the future, that amount is $8 billion. There’s
another $3 billion that pertains to old programs, which gets to the $11 billion figure cited
by Gov. Murphy.

}
SGEDC:
Older programs. But don’t take our word for it. As Tim Sullivan, the CEO of NJEDA,
stated in his reply to the report, 70 percent of the OSC’s criticisms are aimed at programs
that are no longer active — namely, BEIP, BRRAG and UTHTC. Moreover, 88 percent
of the jobs that OSC found lacking in corroborating documentation pertain to these
Was the OSC’s recent report based inactive programs, not Grow NJ. In fact, the statute and regulations underlying Grow NJ
on current programs or older, now- corrected the inadequacies of the old programs in terms of oversight, documentation and
defunct programs? caps on award amounts.
NJPP:
Both. The audit reviewed a sampling of all programs currently being administered by EDA, whether they
are accepting new applications or not. That includes the phased-out BEIP, BRRAG and HUB tax subsidies, which represent about $1.7
billion in remaining obligations, as well as the Grow and ERG programs, which were greatly expanded in 2013 and are set to expire June
30 of this year. CONTINUED ON PAGE 50

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ROI-NJ RETURN ON INFORMATION-NEW JERSEY February 25, 2019 ROI-NJ.COM

Economic Development
CONTINUED FROM PAGE 49 NJPP:

}
True. Among the sampling of 37 approved projects, the comptroller’s audit found a pattern of faulty data collection so prevalent
that 1 out of 5 jobs could not be verified as being created or retained. That kind of sloppy oversight cost taxpayers almost $4 million in
overpayment, according to the audit.
But it should also be noted that recent changes made by the EDA to the ‘net benefits test’ do not apply to the $1.5 billion worth of 26
Grow NJ projects already approved in Camden. New Jersey estimates that these projects could create a net benefit of $777 million over a
35-year period. But the state only requires that Camden-based corporations uphold their end of the bargain for 15 years. That means that
It has been alleged that companies
have received incentive dollars without taxpayers could be on the hook for over $200 million should one of these businesses decide to move, slash its workforce or threaten to
upholding their end of the bargain on move after just a 15-year commitment.
job creation and retention. Is that true
or false? SGEDC:
False. It is inconceivable, if not impossible, for that to happen under the mechanics of Grow NJ. First, companies do not receive a single
dollar of tax credits under Grow NJ until they have completed their project and opened for business at the facility. Next, companies have to
provide proof that at least 75 percent of the promised jobs are in place; that at least 75 percent of the projected capital expenditure has been
incurred on the project; that prevailing wages have been paid and affirmative action has been met on all construction work on the project;
and that required green building design features have been incorporated into the project.
If either 75 percent hurdle is not met, NJEDA may rerun the project’s ‘net benefit test’ and reduce the amount of the Grow NJ award.

NJPP:

}
Yes. The EDA now has a claw-back provision in place so it can recoup some of the subsidy it already awarded if a corporation breaks the
promise to stay beyond the official commitment period. But this does not apply to Camden projects approved under the 2013 Economic
Opportunity Act.

SGEDC:
What happens after that initial set If the actual number of jobs at the project in the first year following project completion are less than 100 percent of the promised
of proofs submitted to the EDA if a number of jobs in the company’s application for a Grow NJ incentive, the award amount for that first year and all nine remaining pay-out
company fails to meet its employment
years is capped at such lower headcount number; there is no going back up.
commitments? Are there safeguards
in place? Thereafter, if the average monthly number of jobs in any of the nine remaining years decreases even more, the tax credit amount for the year
in question is further reduced. In fact, if the number of jobs at the project in any of the nine remaining years decreases by 20 percent or more, that
year’s tax credit amount is forfeited by the company and, if that failure continues into additional years, NJEDA can terminate the award entirely.
Moreover, as a condition of receiving a Grow NJ incentive, companies must commit to remaining in New Jersey and maintaining the
jobs for an extra five years after the 10-year pay-out period, for a total of 15 years. And, if the number of jobs decreases in any of years 11-
15 — in other words, after the tax credits have been paid out — NJEDA can ‘claw back’ an amount from the company pursuant to a strict
formula.

}
SGEDC:
To be eligible for a Grow NJ incentive, a company must demonstrate — by words and numbers — that it is at risk of leaving New Jersey.
This process is known as the ‘material factor’ or ‘but for’ test. For starters, the company’s CEO must certify under oath, under penalty of
perjury, that the Grow NJ award is a material factor in the company’s site selection process. In addition, any lease or contract for the project
must be expressly conditioned on the Grow NJ award; if the company takes any action prior to NJEDA’s grant of a Grow NJ award that would
Can a company already doing business indicate its decision to remain in New Jersey regardless of the outcome, the company is deemed ineligible for the incentive. Further, the Grow
in New Jersey simply threaten to leave NJ application includes a ‘comparative benefit analysis’ — essentially, a side-by-side comparison of the 15-year projected cost of operating
the state, and thereby qualify for a the proposed New Jersey facility versus a comparable facility at an out-of-state location that is also under consideration. These costs must be
Grow NJ award? supported ‘to the penny’ by hard evidence of each cost item, such as base rent, property taxes and utilities.

NJPP:
Not quite. A company can threaten to leave the state and thereby be encouraged to apply for a Grow NJ award. If it qualifies for an
award, then yes. But some positive changes made in 2013’s tax subsidy overhaul make it a little harder for a company like this to be eligible
for an award. (See below.)

}
NJPP:
The bigger issue is that New Jersey became deeply invested this decade in retaining ‘at-risk’ jobs by doling out enormous tax breaks
to corporations that essentially move down the block. Consider the $210.8 million tax break for Prudential to vacate its office space in
Is it possible for an existing New
Newark’s Gateway Center and build a new tower a few blocks away; the $102.4 million subsidy to Panasonic to move its headquarters one
Jersey company to add jobs in
one place and then eliminate jobs train stop; the $81.9 million award to Goya Foods to move one mile, from Secaucus to Jersey City; or the $40 million grant for Burlington
somewhere else in the state, without Coat Factory to build a new facility (on land it already owned) less than half a mile away from its current location.
recourse, as has been alleged by
some? If that is the case, can you point SGEDC:
to any particular company that has
Not under Grow NJ. If a Grow NJ recipient operates more than one facility in New Jersey, it is subject to scrutiny of its statewide
done so?
headcount in addition to the scrutiny of its headcount at the Grow NJ facility. If a company’s aggregate number of jobs statewide decreases
by 20 percent or more in a given year, its Grow NJ tax credit amount will be forfeited for that year, and if the headcount remains low for
multiple years, the rest of the award may be terminated by NJEDA.

50
ROI-NJ.COM February 25, 2019 ROI-NJ RETURN ON INFORMATION-NEW JERSEY

Economic Development

}
SGEDC:
Yes. The enabling statute requires NJEDA, before granting a Grow NJ award, to determine that the project will return a ‘positive net benefit’
to the state. NJEDA has adopted a stringent standard — known as the ‘net benefit test’ — to make that determination. In essence, the applicant
must project to the satisfaction of NJEDA that, over a 20-year period, the project will yield a 110 percent return on the Grow NJ award amount
The OSC report talks of a ‘net benefit in terms of new state tax revenue. Not a bad exchange rate — 100 cents out over 10 years and at least 110 cents back to the state treasury over
test’ conducted by NJEDA to determine 20 years. And that’s not counting the local taxes generated or the ‘multiplier effect’ of the taxes generated from spending during the work day
whether the state is receiving a return
by the company’s employees, or from the purchase of homes and the rental of apartments by new employees moving to New Jersey.
on its Grow NJ investment. Is that an
effective process?
NJPP:
Absolutely. The NJEDA took important steps to reform the rules of the net benefits test back in 2017. Now it’s up to the Legislature and
governor to restore some fiscal responsibility and realism of these tax breaks by codifying these rule changes, starting with ensuring that
the net benefits test covers only the number of years the corporation is committed by statute to stay in the state.

}
NJPP:
Most of the subsidies have gone to small and midsize companies, but the awards that have gone to large companies have attracted more
attention. Regardless, the impact of these subsidies has been overestimated, considering the amount they’ve cost the state and the number
of companies that have benefited. Only a tiny sliver of New Jersey’s businesses have been granted tax subsidies through Grow NJ program
— just over 300 of New Jersey’s approximately 194,000 businesses since the 2013 reforms. That’s less than two-tenths of 1 percent of New
Does Grow NJ benefit larger
Jersey’s businesses having received tax subsidies, leaving the other 99 percent to make up for the revenue the state must forego in the future.
companies over small companies?

SGEDC:
When the Grow NJ program was revised in 2013, the minimum job eligibility threshold was reduced from 200 jobs to as few as 10 jobs
for tech startup and manufacturing companies, 25 jobs for ‘targeted industry’ companies and 35 jobs for all other businesses. Very few of
the Grow NJ recipients, contrary to the myths out there, have been Fortune 500 companies.

}
SGEDC:
The sheer reality is that Camden, in the darkest days of the Great Recession of 2008, needed extra help to get the attention of corporate
site selectors. A decade and several Grow NJ projects later, a real estate submarket is emerging in Camden where none previously existed,
and Corporate America has noticed.
Some say the city of Camden has NJPP:
received unnecessary, extraordinarily
According to our analysis, Camden County received about 30 percent of all tax subsidy awards since 2013, to the tune of $1.7 billion. All told,
costly special treatment under the
50 projects helped to create or retain just over 7,500 jobs in the Camden area. In other words, New Jersey taxpayers are on the hook to the tune of
Grow NJ program. What do you think?
about $224,000 per job. For a few projects, the cost was even greater — $658,000 per job for Holtec, $328,000 per job for the Philadelphia 76ers and
$196,000 per job for Subaru. For comparison, just 10 years ago, the average cost for each job a subsidy recipient created or retained was $41,600. In
the 2000s, the cost was $16,427 per job. Regardless of what one thinks about the efficacy of tax subsidies for economic development, all can agree
that per-job subsidies that enter six-figure territory are unnecessarily extravagant and unlikely to ever recapture the value of the state’s investment.

NJPP:
Much of the conversation on the state’s tax subsidy programs has sought to change the debate from the egregious scope of the awards to
the need for the existence of the programs. While there is much to debate regarding just how effective subsidy programs actually are — and
we would argue that they are not nearly as effective as proponents make them out to be — the core contention that is being made by critics
is that the scope of New Jersey’s program is grossly out of balance considering the size of our budget and our GDP.

}
A 2017 report by McKinsey & Co. shows that the state overspends on tax subsidies, paying more than five times as much as peer states
for every dollar it attracts and every job created or retained. The report demonstrates that New Jersey’s average subsidy per newly created
job is 2.3 times higher than across the country, and 20.3 times higher than it is in Virginia. The average subsidy per retained job is 3.8 times
higher than across the country, and 13.1 times higher than it is in Virginia.
Bottom line: These ineffective tax breaks are making it harder for New Jersey to maintain and improve the kind of assets that are proven
drivers of a state economy. The dramatic expansion of these tax break offerings since 2013 has created a damaging cycle of disinvestment
and puts New Jersey’s future at risk. Every dollar spent on tax subsidies is a dollar lost in the coming years, making it harder to restore
Any closing thoughts? key investments in the kinds of things corporations consider when deciding where to locate or expand: an educated workforce, efficient
transportation networks, safe communities and affordable housing, to name a few.

SGEDC:
Every New Jersey taxpayer should hope that our state will be fortunate enough to have to pay out the full Grow NJ award amount of $8
billion over the coming years. If you believe in the ‘but for’ or ‘material factor’ test — namely, that the in-state company applying for a Grow NJ
incentive is at risk of leaving New Jersey and that the out-of-state company considering New Jersey would not otherwise relocate to our state —
then the amount of incentive dollars paid out to these applicants is essentially ‘found money.’ And when one considers that the state of New Jersey
is realizing a return on investment of at least 110 percent on every dollar in tax credits paid out, the deal becomes even better for taxpayers. Throw
in the program’s limits on amounts awarded for existing jobs and for low-paying jobs, and the Grow NJ program is even more compelling.
The OSC’s criticisms of the Grow NJ program are tame in contrast to its knocks on the older, inactive incentive programs, but that doesn’t
mean that the OSC’s suggestions should be disregarded. To the contrary, every recommendation ought to be given serious consideration
in the full light of day as a revised Grow NJ or a replacement program is debated in Trenton.

51

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