Franzini to leave the EDA

Caren Franzini is planning to step down as chief executive officer of the New Jersey Economic Development Authority (EDA), a source tells PolitickerNJ.com.

Franzini joined the Authority in March 1991 as Deputy Director. 

A source says appointments counsel Michelle Brown is a potential replacement. 

Assemblyman Albert Coutinho (D-29), Newark, chair of the Assembly Commerce and Ecnomic Development Committee, confirmed Franzini’s departure in a statement. 

“Caren Franzini’s resignation from the NJEDA is a tremendous loss for the state of New Jersey,” Coutinho said. “Caren is widely regarded as one of the premier economic development minds in the country and has been instrumental in creating jobs during her illustrious tenure. Caren was a leader who knew how to get things done and was able to work with everyone.

“Whether it was with Democratic or Republican governors and legislators, major developers, union leaders, environmental groups or small business owners, Caren was always focused on working together to get things accomplished and putting more New Jerseyans to work. It has been a tremendous pleasure, and let me say a true honor, to work with such an incomparable classy professional. New Jersey today has some of the most aggressive investment incentive programs in the country such as the Urban Transit Hub Tax Credit program, Grow NJ and the Economic Redevelopment & Growth Grant program that I am proud to have sponsored and are making a real difference in our state.

“Make no mistake about it – New Jersey today has lost a world class public servant and is a poorer place because of it. Thank you.

“These and basically every other program at EDA have been crafted and molded by this incredible professional named Caren Franzini. Caren You have made an incredible difference and you will be missed.”

Franzini to leave the EDA