Chris Christie, the geniuses at the Tax Foundation (a right-wing think tank), and other conservatives constantly spout about how New Jersey is unfriendly to businesses, because of “high” state taxes. They forgot to tell that to the biotech industry, which has expanded substantially in the state over the last two years. In a survey by BioNJ, the biotechnology trade group in the state, 78% of the 300 biotech companies in the state said that they expect to hire more employees in the next year.
The fact is, high tech employers see New Jersey as a great place to do business because of the state’s educated population. Cuts to education funding may well damage the state’s ability to attract high tech jobs far more than a millionaire’s tax would.