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>> This week on NJ BusinessWeek -- >> It's not great news, the April return.

>> The state warns of a drop in revenue as advocates push to keep a business tax in place to support social services.

Plus -- >> I think they understand they are looking at a fairly long strike before there is even an impact.

>> Riders shut down productions in New Jersey as they fight for a fair contract.

>> The beach and the boardwalk and outdoor festivals, and that is the strength of New Jersey.

>> With summer around the corner, we put tours up in focus, highlighting what the state has to offer this season, and looking at one area that is a hotspot.

That is upcoming on NJ BusinessWeek.

♪ >> This is NJ BusinessWeek.

>> Hello, I am Raven Santana.

Thank you for joining us on NJ BusinessWeek.

This week we learned New Jersey is poised to take a major revenue hit.

New estimates from the office of legislative services show that revenue will be $1 billion less this fiscal year and more than $700 million less next year, totaling a nearly $2 billion decrease.

During a hearing this week, New Jersey's treasurer says despite the revenue drops, the state is prepared with a robust surplus, but she cautioned economic uncertainty at the federal level like a deadlock over the debt ceiling could impact New Jersey's finances.

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>>>> The repercussions financially for us and every state could be very severe and long term.

Just the reputation of the U.S. dollar and our credit will take a hit worldwide, which is going to affect New Jersey.

We have a lot of high income earners.

>> Advocates argue the drop in revenue needs now is not the time to sunset the tax surcharge.

Advocates say losing the extra revenue will be devastating to critical social services.

>> To end the surcharge is to give megacorporations a big tax cut.

Are they going to stand with Amazon, or will they stand with working families?

In this moment where people have lost breadwinners to COVID, the rent is at an all-time high, groceries are at an all-time high, the state is taking a massive risk to forfeit revenue.

>> A new law aimed at giving temp workers in the state protections is being called unconstitutional by a leading business group.

The New Jersey business and industry Association joined a lawsuit against the state to overturn the law, arguing it will hurt the workforce.

Temp workers receive the same salary and benefits as traditional employees.

The New Jersey staffing alliance and American staffing Association require that -- argue that requirements in the law will paralyze the industry.

A scathing report from the office of the Comptroller of the financial crisis at New Jersey city University.

The investigation, requested by Governor Murphy, finds that NJ CU was having financial problems long before the school's Board of Trustees declared a fiscal emergency.

The report says the struggles were due to years of declining enrollment and heavy spending.

The report finds administrators could have turned things around, but instead chose to give the boards a budget using roughly $14 million in COVID relief funds in a way they knew was unlawful, but they didn't share the fact with the trustees.

The report says trustees lacked the training and didn't have the oversight of Former President Sue Henderson who pushed a lot of the spending projects.

With the congestion pricing proposal nearing the finish line, lawmakers are working at the federal level to stop it.

Senator Bob amend is introduced to the stop NJ congestion act, which would impose Highway sanctions against New York.

If the plan goes into effect, we told you how congestion pricing won federal approval and could win approval by next spring.

It is estimated to cost drivers $23 per day if they enter Manhattan below 60th Street.

That is on top of existing tools.

Advocates say it will cut down on emissions and gridlock, but critics from this side of the Hudson say that the plan will have a disproportionate effect on New Jersey commuters without providing money for the Garden State's public transit system.

>> If you try to line your pockets at the expense of the Garden State, you best believe I will be standing there in the breach.

My bill slams the brakes on this awful congestion pricing plan.

I introduce it to make sure we create change for New Jersey's families and businesses.

This is no win for our state, and we will turn it around.

>> More trouble for Hollywood studios as the union representing actors SAG AFTRA asked its members to authorize a strike before negotiations begin.

This comes as the writers give strike enters its third week.

Writers were out in full force at Columbia high school in Maplewood, picketing outside of a film shoot.

They encouraged cars to honk to disrupt filming as they tried to shut it down.

Writers tell us there has been little progress so far.

>> The writers give a has ask them to talk about a dozen things, and they've addressed three of them.

It's clear for these people that money is the thing that talks, so the workers are here to say, the sooner we shut off the flow of money, the sooner you have to deal with us and take us seriously.

>> We are looking for a fair deal.

To put it simply, we are asking for roughly 2% of the earnings of these companies.

>> The casino industry can think online gambling for a better-than-expected April revenue.

The latest Trevor Reid data shows total gambling numbers were up in April compared to a year earlier.

The amount wagered by people physically showing up to casinos fell by more than 1.5% to just over $231 million.

Casino leaders see this as an overall boom for the summer since the money gets shared.

The casinos are one of many attractions for visitors during our important summer tourism season.

Cities and businesses are already gearing up for an influx of traffic and spending.

This week, we are putting tourism in focus, highlighting what the state has to offer.

Last year, the state welcomed more than 114 million visitors, just shy of pre-pandemic levels.

They were eager to spend their money to the tomb of 24 billion dollars, a 22% increase over last year.

Tax revenue from tourism sales totaled $500 billion.

The largest increase in spending came in recreation, followed by food and beverage spending, up 20%.

One of the state possible revamped offerings this year was the North to shore Fost of all -- festival.

It runs across three weeks in three different cities, Atlantic City, Newark and Asbury Park.

The festival kicks off June 4 in Atlantic City.

To give a better sense of what the state has to offer its visitors and residents this year, we headed to the shore to Asbury Park to meet with industry leaders.

We spoke with Jeff, executive director of the travel.

And tourism board he said he sure is ready for visitors, but there is plenty to do beyond the shore.

It is a Tuesday afternoon and bustling and Asbury Park.

So many people were nervous.

>> We just released the 2022 economic impact of tourism study that we do every May, and we found we are ahead of schedule returning to the 2019 peak tourism numbers.

We are at 98%.

Because of what New Jersey goes through, especially something like this in Asbury Park where people want to be outdoors, that's a lot of what the pandemic brought to people.

We want to be with family, friends.

We want to be relatively close because people were reluctant to get on an airplane, but they will get in a car and drive, and they want to be outside.

>> We talk about this exciting summer ahead of us.

Tell me what has been done to get all of this foot traffic here to continue to keep that excitement and keep businesses up and running and doing better-than-expected.

>> They are doing better, and in fact, the food and beverage industry has had pre-pandemic levels.

Recreation is not far behind.

Arts and culture, right behind it.

You don't need to wait for a Saturday night in August to come to Asbury Park.

>> >> Clearly.

We also want to tell the story that everybody knows the iconic Jersey shore, but we want to tell them that there are so many other things to do.

If the weather forecast is not great, don't cancel.

Come and enjoy some arts and culture.

There is so much you can do.

We want to make everything as iconic as the Jersey shore is.

>> We have focused a lot on the shore, especially here in Asbury Park, but if you are not into the beach or sand, coming down the boardwalk, there are other things to do in Jersey.

>> Absolutely.

Asbury Park and Monmouth County are perfect models of, how do you diversify your tourism base?

10-15 years ago, the only thing you think about is the beach, but it has become a great arts destination, a great foodie destination.

It is a full service destination.

That is what they have made it.

We are more than the beaches.

Having said that, more than 50% of our visitors come for the beach.

We want to make sure they are aware of all the things there are to do.

>> What are some of the challenges or barriers that you've been able to overcome post-pandemic?

>> We are still hearing that there may be issues this summer, but on the other hand, we are hearing at this time last year, they are a lot better off.

More people are comfortable working.

We are working with the Department of Labor hoping to introduce tourism as not only a summer job, but career.

>> A recurring thing with everything I spoke with today is that there is something for everyone, not just here at Asbury Park.

>>>> You can take advantage of water parks.

The festivals in July.

You have the blueberry Festival down in Hammonton.

Up and down the shore, you have concerts along the beaches.

There are seafood festivals.

The 250th anniversary of the American revolution.

George Washington spent more time in New Jersey than any other state during that time period, and we have over 140 Revolutionary war sites.

>> Thank you so much for joining me.

Asbury Park has undergone a great transformation and revival, becoming one of the top shore destinations in the Northeast.

From revamping the boardwalk, Asbury Park leaders will tell you the city has something for everyone.

She told me what draws so many to visit her city.

>> What separates Asbury Park from all of the other shore towns?

>> We value arts, culture and diversity.

I don't know of another shore town where you will walk on the boardwalk and be inundated with public art, mere roles.

We are putting up new murals currently.

I am not sure other towns do it as well as Asbury Park has managed to.

We have another series on the boardwalk that starts at the end of June on Wednesdays.

That will be also in June.

In addition to the music, last weekend we declared as drag queen visibility day, and then we are celebrating the 32nd pride celebration in Asbury the first Sunday in June.

We have an amazing Juneteenth event planned for Asbury Park that brings thousands of people, so I think we try to take a little bit of everything and include a little bit of everyone.

>> For people who are watching, what can they look forward to this summer at Asbury?

>> One of the main ways we get people excited, the Stone pony will have amazing shows this summer.

Indigo Girls, Orville Pat, fans that will range from older to younger.

This is not a town full of LLCs, TGI Friday's, not that there is anything wrong with TGI Friday's, but these are businesses that are owned by my neighbors.

Most businesses are owned by local residents, mom-and-pop businesses.

We want you to spend some money and come out and see some free music.

We have a free splash park.

We keep our beach rates pretty cheap, one of the cheaper ones on the shore.

>> You have seen a lot.

You've been in Asbury a long time.

You've seen the good, the bad, and surviving this pandemic.

Tell me about what the biggest challenge is moving forward.

In some ways, that is complicated.

We recently passed a rent leveling ordinance.

We've stopped a short term rentals or greatly reduced them.

We were seeing developers coming in, buying up two or three houses on a block, and using it as a hotel, then keeping it bearing all winter, and that was driving up the prices and changing the character of the neighborhood.

We've put a stop to that.

Any new development outside of the waterfront, that is its own conversation.

That should hopefully provide some relief for residents who are feeling the pinch of rising taxes and inflation.

>> For people who are watching, residents included, what do you want them to know?

>> I want you to make memories here.

I want you to know we value art and music and value our residents and visitors.

I want you to come here and have a great experience you talk about later.

>> Good music, good food, good views.

Come to Asbury.

Deputy Mayor Amy Quinn, thank you for joining.

>> Sure.

>> One of the more famous members of the Asbury Park community is Tim McLuhan.

Tim, welcom -- Tim welcomed us into his ale house and told us why he thinks Asbury Park is one of the best to visit in the state not just during the summer but year-round.

You are the modern-day Renaissance man.

>> Oh please.

>> You play in a band.

You are a coach, and you are a business owner to many businesses, not just in New Jersey, but down the shore, including the one we are sitting in now.

Tell me about that.

>> We got an opportunity, and it worked right away.

We built a brand-new building on the beach.

Now we have this success, and my eyes have turned towards Asbury.

We were the first lease signers down here in Asbury because I believed in it.

I was feeling like I have restaurant muscles.

>> You are though.

>> They all know I am a piano player.

>> We are three years out of the pandemic, so what has that taught you?

What was your experience like in Asbury?

>> There was a big change.

One of the worst days of my life was March 17 when we laid off 1700 people.

Many of them never came back, particularly bartenders.

When we came back, bars were not allowed to open.

There's just not enough money there.

Most of them left or became servers.

That was the biggest disruption.

We lost a generation of workers.

>> Do you think people are not spending as much echo -- as much?

>> I think for the most part a lot of people have acknowledged it is out of our hands.

We are fortunate to our size, our buying power is better than someone with one location, and our vendors that are selling us the stuff we will serve to you, they want to keep our business, so they are helping to tamp it down as best as they can.

Whole eggs furor was crazy.

>> I was going to ask you about food because we know food prices are up.

How do you deal with those challenges?

>> It's tough because the customer doesn't care what my costs are.

The reality is they are just coming in, and if we are charging in their opinion too much or they are not getting their value, they are not coming back.

We are on the higher end of the price point.

We are kind of at the high end of the middle.

In our case, a lot of people are coming for a very special occasion.

This is a big night when they come to us.

We always try to do our menus or anybody who feels like they can afford to go out can find something on our menu.

We get a lot of first date people.

There's no demographic here at all.

Our workers would say, you will have to cover that up or wear a longsleeved shirt.

Now somebody comes down to look for a job in Asbury and they don't have a tattoo, I'd say, I don't know if you will find one.

>> How important is tourism to the bottom line?

>> Here comes our summer season.

We assume that the tourists are coming.

The battle for us is when they are not around.

How much can we do in the off-season?

How much in the red do we go until we get our turn?

God help us if it is bad weather.

You really want that tourist dollar, but we have no real way of calibrating it except that our servers will say, they are not from around here.

The bad omen is -- the battle is to win the hearts and wallets of the people who live here and are here year-round.

Our bartenders and servers and everybody else knows that most of their money comes in the summer, but by the same token, they cannot get shut out in the winter.

We do everything we can to make ourselves a year-round destination.

Nobody comes here to look at the ocean.

If you can make yourself feel like part of the community, and that is a big thing, they feel like we are part of it.

>> Thank you for doing this with me and sitting down with me.

That does it for us this week.

Remember to subscribe to our NJ Spotlight News YouTube channel to learn when we post new episodes.

We are off for the Memorial Day holiday, so we will see you in two weeks.

I am Raven Santana.

Thanks for watching.

>> Funding for NJ Business Beat provided by IBEW Local 102, proudly serving New Jersey's business community.

Lighting the path, leading the way.

NJBIA has been focused on the investment and success our numbers -- members.

We are working together to help build a more prosperous New Jersey with advocacy, support, networking and benefits.

♪