In our Spotlight on Business Report tonight, Governor Murphy addressed the business community today to double down on a promise he made not to renew a corporate surcharge tax that New Jersey businesses have said was stifling them.

That was just one of the matters discussed at the New Jersey Business and Industry Association's 2023 Public Policy Forum.

Where business and government leaders took on the tough topics that surround the state's economic growth.

Senior correspondent Brenda Flanagan was there and has more on the state's business outlook.

I'm still supporting the sunsetting of the corporate business tax on December 30, first in a glass half full speech.

Governor Murphy promised this crowd of business folks that he will not succumb to political pressure and renew the business tax surcharge.

Many viewers onerous.

But he also emphasized the states looking at a budget cliff.

The deal's a deal.

So we said this was a bridge to we get to a better place and we met it.

On the other hand, it does exacerbate what is a structural deficit that we're running at the moment.

We have to be clear eyed about that as well.

The sunset of the surcharge of the corporate business tax at 2.5% makes a difference for New Jersey corporations.

That's hundreds of thousands of jobs that are employed here in the state of New Jersey.

Michele Siekerka heads New Jersey's Business and Industry Association, which sponsored this policy forum.

The group's latest annual survey showed 69% of employers rated the state economy as fair or poor.

But that's a slight improvement over last year, when 78% gave it a thumbs down.

Also, 68% of employers felt the state had not done enough to address business affordability in 2023, compared to 75% last year.

Again a small 9% improvement.

But this is a slow climb out of you know what some feel was a tough after COVID hole to be climbing out of.

As for the structural deficit, a panel of lawmakers talked about the billion dollar fiscal cliff confronting NJ transit in 2026.

We need to find some type of dedicated revenue source in the budget and not being I'm trying not to be here vague here at all what that looks like.

I am not certain quite frankly and we should avoid any type of surcharge or tax on the business community.

Do they ever really try and explain to communities what the value of taking out New Jersey Transit is?

And I don't think they ever really do that and explain it very well.

The governor who said he'd fix NJ Transit if it kills him, remains upbeat about the future.

But she's a delayed recovery.

We're going to see that reality flip, and it will be a positive reality, but it won't be tomorrow.

My gut tells me we're in a six to 18 month site, softness or sideways period of time, the governor said.

New Jersey talent and location sell well anywhere.

The key is keeping both engines fed.

He promised an announcement soon on artificial intelligence and financial technology.

We're just trying to make the state more competitive as best we can.

John Harmon heads New Jersey's African-American Chamber of Commerce.

When gauging the state's economic future, he said he sees the same candidates with the same old playbook.

He wants change.

And we see the same old stuff year in, year out.

And I tell you from our organization, we're going to put a stake in the ground coming in 2024 because we're tired of it.

And it's inequitable.

The demonization of business in New Jersey.

The business community says it wants a say in what happens after eight years of the Murphy administration.

In Iselin I'm Brenda Flanagan, NJ Spotlight News.

Support for the business report is provided by Newark Alliance, which curates the Newark Holiday Festival, a collaborative calendar of holiday events in Newark's Arts and Education District.

More details are available at Newark HolidayFestival.com