CAMDEN – A revamped business initiative in Connecticut is causing New Jersey’s neighbor to the Northeast to try to lure incubator businesses from the Garden State, according to testimony at the Assembly Budget Committee hearing in Camden today.
Suzanne Zammit, the incubator manager at the Rutgers Camden Business Incubator and New Jersey Business Incubation Network, testified before the committee, asking for funding to help boost small businesses in New Jersey.
Zammit said that a lack of state funding has affected the network’s ability to provide business-training programs for incubator businesses in New Jersey. She added that Connecticut is working to lure incubator companies from the Garden State.
“Connecticut implemented a $7.4 million initiative to track new, emerging innovative businesses (and bring them) to their state,” Zammit testified before the committee. “They’re calling companies in New Jersey, trying to recruit over state lines.”
Economic development is one of the six major topics of discussion at the Assembly budget hearing being held at Camden County College.