>>> FUNDING FOR "NJ BUSINESS BEAT" PROVIDE D BY -- MORE THAN 110 YEARS, NJBIA HAS BEEN FOCUSED ON THE SUCCESS OF OUR MEMBERS.

REPPING ALL INDUSTRIES WORKING TOGETHER TO HELP BUILD A MORE PROSPEROUS NEW JERSEY THROUGH ADVOCACY, SUPPORT, NETWORKING AND BENEFITS.

FPZ NJ SCHOOL OF BUSINESS, A GAME-CHANGING FORCE OFFERING PROGRAMS LIKE FINANCIAL TECHNOLOGY OR BUSINESS ANALYTICS AND DATA SCIENCE.

STEPS AWAY FROM THE EXCHANGE PLACE IN JERSEY CITY AND MINUTES FROM WALL STREET.

AND LOCAL 102, PROUDLY SERVING NEW JERSEY'S BUSINESS COMMUNITY SINCE 1900.

LOCAL 102, LIGHTING THE PATH, LOADING THE WAY, VISIT IBEW102.ORG.

>>> THIS WEEK ON "NJ BUSINESS BEAT," ALL EYES ON THE BUDGET.

BUSINESS ADVOCATES TESTIFY ABOUT THE CHANGES THEY WANT TO SEE TO THE GOVERNOR'S $49 BILLION SPENDING PLAN.

PLUS INTERNATIONAL IMPACT IN NEW JERSEY.

WE TALK TO A BANKING EXPERT ABOUT HOW GLOBAL EVENTS ARE DRIVING UP COSTS IN OUR STATE.

>>> AND WE PUT THE BUSINESS BEHIND THE ARTS IN FOCUS.

HIGHLIGHTING HOW NEW JERSEY'S CREATIVE MINDS TURN ART INTO THRIVING BUSINESSES INCLUDING IN THE DIGITAL MARKET IN BLOCK CHAIN.

THAT'S STRAIGHT AHEAD ON "NJ BUSINESS BEAT."

>>> THIS IS "NJ BUSINESS BEAT," WITH RHONDA SCHAFFLER.

>> HELLO, I'M RHONDA SCHAFFLER.

THANKS FOR JOINING US ON "NJ BUSINESS BEAT."

IF YOU'RE WATCHING ON YOUTUBE, MAKE SURE YOU SUBSCRIBE TO OUR NJ SPOTLIGHT NEWS YOUTUBE CHANNEL TO THE GET ALERTED WHEN WE POST NEW EPISODES AND CLIPS.

NEW JERSEYANS THIS WEEK GOT A CHANCE TO HAVE THEIR SAY ON THE NEARLY $49 BILLION BUDGET PROPOSED BY GOVERNOR PHIL MURPHY FOR THE NEXT FISCAL YEAR.

THE ASSEMBLY BUDGET COMMITTEE HELD ITS FIRST PUBLIC HEARINGS ON THE BUDGET HEARING FROM REPRESENTATIVES FROM THE BUSINESS COMMUNITY AND NONPROFITS WHO ARE SEEK ING THER SHARE OF FUNDING.

ONE HOT TOPIC WAS THE NEED TO SUPPORT THE CHILD CARE INDUSTRY IN THE STATE, WHICH WAS DESCRIBED AS BEING IN CRISIS DUE TO STAFFING AND OTHER CHALLENGES.

THE NEW JERSEY CHAMBER OF COMMERCE PUSHED STATE LAWMAKERS TO APPROVE A BILL TO USE FEDERAL FUNDS TO REPLENISH THE THE STATE'S UNEMPLOYMENT INSURANCE TRUST FUND RATHER THAN REQUIRING BUSINESSES TO SPEND MONEY TO DO SO.

>> WE RECOGNIZE AND APPRECIATE THIS IS BEEN LEGISLATION TO REPLENISH THE STATE'S UNEMPLOYMENT INSURANCE FUND.

WE RESPECTFULLY ASK THE STATE LEGISLATURE FOLLOW THE LEAD OF 30 OTHER STATES AND ENACT THAT LEGISLATION AS PART OF THE BUDGET PROCESS AND FULLY REPLENISH THE FUND TO NOT ALLEVIATE WOULD CREATE A TAX INCREASE ADDING TO THE PANDEMIC-RELATED BURDENS.

>> THE BUSINESS COMMUNITY HAS OTHER CONCERNS ABOUT THE PROPOSED BUDGET.

A RECENT SURVEY OF ITS MEMBERS BY THE NEW JERSEY SOCIETY OF CPAS FOUND NEARLY 55% BELIEVE THE GOVERNOR'S BUDGET WILL LEAVE THE STATE'S ECONOMY EITHER MARGINALLY WORSE OR SIGNIFICANTLY WORSE OVER THE LONGER TERM.

24% SAID IT WOULD STAY THE SAME.

22% THOUGHT THE ECONOMY WOULD IMPROVE.

THIS WEEK THE BIDEN ADMINISTRATION ANNOUNCED NEW SANCTIONS ON RUSSIA HOPING TO PUT MORE ECONOMIC PRESSURE ON THE COUNTRY AS IT CONTINUES ITS ASSAULT ON UKRAINE.

THE WAR HAS CREATED SOME UNCERTAINTY AND ADDED COSTS FOR NEW JERSEY'S BUSINESSES.

I SPOKE ABOUT THAT WITH CHRISTOPHER MAR, CHAIRMAN AND CEO OF OCEAN FIRST BANK.

NICE TO SEE YOU BACK ON "NJ BUSINESS BEAT."

>> GOOD TO SEE YOU.

>> BUSINESSES ARE ALWAYS DEALING WITH UNCERTAINTIES, BUT IT SEEMS THAT THIS IS A MORE TRYING TIME THAN WE'D SEEN PREVIOUS LY.

COSTS ARE RISING AND NOW WE HAVE THIS WAR IN UKRAINE, WHICH IS ALSO VERY UNSETTLING.

WHAT ARE YOU HEARING AMONG YOUR CLIENTS?

>> OUR CLIENTS ARE CONCERNED FOR THE PEOPLE IN UKRAINE.

THEY ARE CONCERNED ABOUT THE SITUATION.

BUT IT'S ALSO MAKING THINGS A LITTLE MORE DIFFICULT IN TERMS OF SUPPLY CHAINS AS WELL AS INFLATION.

AND THE PRICE OF GOODS GOING UP.

IT'S BOTH THE CERTAINTY ABOUT BEING ABLE TO GET WHAT YOU NEED TO DO YOUR BUSINESS, AND THEN THE COST TO DO THAT.

THIS IS ALL ON TOP OF THE TREMENDOUS PRESSURE THEY HAVE BEEN FEEL ING OVER LABOR IN THE LAST YEAR OR SO.

>> SO HOW ARE THESE UNCERTAINTIES IMPACTING THEIR DAILY BUSINESS DECISIONS AND THEIR THOUGHTS ON EXPANSION AND CONTINUED INVESTMENT IN THEIR BUSINESSES.

>> FORTUNATELY, THE ECONOMY REMAINS QUITE STRONG.

ESPECIALLY IN NEW JERSEY.

SO IN THE SHORT-TERM, WE'RE NOT SEEING ANY CHANGE IN THE DECISION MAKING OF OUR CLIENTS ARE TAKING ON.

IN TERMS OF INVESTMENTS TO NEW BUSINESSES, INTO FACILITIES AND ANY DESIRE TO EXPAND EMPLOYMENT.

WE'RE SEEING THAT ACROSS THE ECONOMY.

>> WHAT ABOUT THE ISSUE OF SUPPLY CHAIN DISRUPTIONS?

IF IT'S NOT WHAT'S HAPPENING BETWEEN RUSSIA AND UKRAINE, THERE'S ALSO A SITUATION IN CHINA WHERE KEY CITIES HAVE BEEN LOCKED DOWN ON RENEWED COVID CONCERNS.

IS THERE ANY THOUGHT PROCESS BEHIND SOURCING SUPPLY CHAINS DIFFERENTLY NOW?

>> MANY OF OUR CLIENTS HAVE GONE THROUGH THEIR PROCUREMENT OPERATIONS TO MAKE SURE THAT THEY ARE NOT REGIONALLY TIE D T ANY ONE PLAYER.

THEY HAVE MULTIPLE SOURCES OF SUPPLY FOR ANY PARTICULAR CRITICAL ITEMS.

THIS IS A MUCH MORE COMPLEX PROBLEM THAN WE HAD A YEAR OR SO AGO.

LUMBER CAN BE ADDRESSED QUICKLY.

YOU GET MORE CAPACITY ON BOARD, YOU CAN BRING THE PRICES DOWN.

WHEN YOU'RE DEALING WITH LINGERING ISSUES OVER THINGS LIKE MICROCHIPS, THERE'S SOME AUTOMOTIVE PLANTS IN UKRAINE THAT PRODUCE WIRING HARNESSES FOR AUTO MANUFACTURERS.

IF YOU CAN'T WIRE THE CAR, YOU CAN CAN'T PUT IT TOGETHER.

SO THIS IS A COMPOUNDING ISSUE.

>> COULD SOME OF THESE ISSUES ACTUALLY BENEFIT THE WAREHOUSE ECONOMY IN NEW JERSEY?

>> NO QUESTION WE HAVE SEEN THE DEMAND FOR WAREHOUSE INCREASES.

SO THE IDEA OF JUST IN TIME MANUFACTURING, WHICH WAS IN VOGUE, PEOPLE ARE RETHINKING THAT BECAUSE YOU CAN'T COUNT ON THE GODS BEING DELIVERED IN SUCH A TIMELY WAY.

WE ARE SEEING IT IN WAREHOUSING.

WE'RE SEEING A BOOM IN MEDICAL SPACE AS WELL.

COLD STORAGE, THINGS LIKE THAT.

>> SO GOOD TO TALK TO YOU AGAIN.

THANK YOU.

>> THANKS, GOOD TO SEE YOU.

>>> THERE'S A WAVE OF BUSINESS OWNERS NEARING RETIREMENT AND RUTGERS UNIVERSITY SAYS THE COMING SILVER TSUNAMI PUTS TENS OF THOUSANDS BUSINESSES AND JOBS AT RISK.

SO THE NJNY CENTER OF EMPLOYEE OWNERSHIP HAS ROLLED OUT A FREE ONLINE PROGRAM TO GUIDE OWNERS THROUGH THE PROCESS OF SELLING THEIR BUSINESSES TO EMPLOYEE THROUGH AN EMPLOYEE OWNERSHIP PLAN OR WORKER COOPERATIVE.

THE PROGRAM TARGETS BUSINESS OWNERS OF COLOR.

RESEARCH SHOWS MOST OF THOSE OWNERS DO NOT HAVE A SUCCESS SESSION PLAN.

I SPOKE WITH THE CENTER'S EXECUTIVE DIRECTOR TO LEARN MORE.

>> PROFESSOR, THE CENTER FOR EMPLOYEE OWN ERSHIP ATTEMPTS TO SOLVE A VERY BIG PROBLEM AMONG PEOPLE OF COLOR WHO OWN BUSINESSES.

FIRST, LET'S TACKLE THE PROBLEM.

WHAT IS GOING ON WHERE WE'RE NOT SEEING THE KIND OF SUCCESSION PLAN YOU SEE IN OTHER BUSINESSES?

>> PEOPLE OF COLOR WHO OWN BUSINESSES ARE ALSO NEARING RETIREMENT.

BUT YET TO YOUR POINT, ONLY A THIRD HAVE VIABLE BUSINESS SUCCESSION PLANS IN PLACE.

AND LOOKING FOR OPTIONS TO PRESERVE THE WEALTH THAT THEY HAVE BUILT UP OVER THE YEARS AND IT'S A PROBLEM THAT IS HAVING A GREATER IMPACT ON PEOPLE OF COLOR THAN NONPEOPLE OF COLOR BUSINESSES.

>> THE PANDEMIC HAS EXACERBATED PROBLEMS AMONG BUSINESS OWNERS IN MINORITY COMMUNITIES.

I GUESS YOU PILE ON THAT ON OF THINGS AND YOU HAVE AN EVEN BIGGER PROBLEM.

>> EXACTLY.

I THINK PEOPLE OF COLOR, BUSINESS OWNERS HAVE HARDER TIME ACCESS CAPITAL TO KEEP THEIR BUSINESSES AFLOAT.

BUT YET, BUSINESSES THAT WERE EMPLOYEE OWNED WEATHER THAT STORM BETTER THAN NONEMPLOYEE-OWNED FIRMS, WHICH IS WHY THIS IS A STRATEGY THAT WE'RE HIGHLY RECOMMENDING BUSINESS OWNERS OF COLOR TO THINK ABOUT.

>> WHAT SORT OF SUCCESSES HAVE WE SEEN AMONG BUSINESSES THAT DO SELL TO THEIR EMPLOYEES?

>> THE RESEARCH IS PRETTY CLEAR.

OWN EMPLOYEE-OWNED FIRMS DO BETTER.

THEY HAVE HIGHERER SURVIVABILITY RATES.

THEY HAVE MUCH FEWER LAYOFFS AND FEWER REDUCTIONS IN PAY OR HOURS OF WORK.

YOU SEE HIGHER LEVELS OF EMPLOYEE ENGAGEMENT.

WHEN YOU SHARE OWNERSHIP WITH EMPLOYEES, THEY ACT LIKE OWNERS.

THEY THINK LIKE OWNERS.

THEY HELP THE BUSINESS SUCCEED.

AND CLEARLY WE SEE ALL OF OF THOSE BENEFITS ACROSS THE BOARD WHEN WE LOOK AT EMPLOYEE-OWNED FIRMS COMPARED TO NON-EMPLOYEE OWNED FIRMS.

>> PROFESSOR, TELL ME WHEN PEOPLE CAN ACTUALLY ACCESS THE PROGRAMS.

ARE THEY UP NOW LIVE IN TERMS OF THE EDUCATION MODULES?

>> YES, ALL OF THE FREE ONLINE EDUCATIONAL RESOURCES ARE ON OUR WEBSITE AT THE SCHOOL OF MANAGEMENT AND LABOR RELATIONSHIPS.

IF YOU ACCESS THAT WEBSITE, YOU'LL HAVE THE A IBLT TO REGISTER FOR THE PROGRAM.

THERE'S A TRACK PROVIDING INFORMATION ON A LOCAL COOPERATIVE AND THERE'S A TRACK PROVIDE ING INFORMATION ON CREATING ESOP, TWO STRATEGIES FOR SUCCESSFULLY SELLING BUSINESSES TO EMPLOYERS.

>> IT'S BEEN WONDERFUL TO HEAR ABOUT THIS.

AND THANK YOU FOR YOUR TIME TODAY.

>> THANK YOU.

MY PLEASURE.

>>> AS COVID CONCERNS RECEDE, NEW JERSEYANS ARE OUT AND ABOUT VENTURING AROUND THE STATE.

ARTS AND CULTURE ORGANIZATIONS ARE PUTTING IN-PERSON PERFORMANCES AND EVENTS BACK ON THEIR CALENDARS.

IT ALSO LEAD TO NEW IDEAS AND ARTISTIC EXPRESSION.

WE'RE PUTTING THE BUSINESS OF THE ARTS IN FOCUS THIS WEEK.

ECONOMIC ACTIVITY FROM THE ARTS AND CULTURE ACCOUNTS FOR 4% OF U.S. GDP OR $877 BILLION, ACCORDING TO THE MOST RECENT FIGURES FROM THE FEDERAL GOVERNMENT.

DURS THE FIRST YEAR OF THE PANDEMIC IN 2020, THAT ACTIVITY DECLINED SHARPLY.

THE TOTAL VALUE OF THE BUSINESS OF THE ARTS IN NEW JERSEY THAT YEAR WAS CLOSE TO $21 BILLION OR $3.4% OF THE GDP MORE THAN 119,000 NEW JERSEYANS WORK IN THE ARTS EARNING $11.7 BILLION.

IF THAT SOUNDS LIKE A LOT, IT'S BECAUSE THE GOVERNMENT'S STATS INCLOUD A WIDE RANGE OF JOBS IN ITS ARTS AND CULTURE CAT IR GO, SUCH AS PERFORMING ARTS, PEOPLE WORKING AS WRITERS, ARTISTS, AGENTS AND PROMOTORS AND AT ARTS COMPANIES.

DESIGN SERVICES, PEOPLE WORKING IN ADVERTISING, GRAPHIC DESIGN AND EVEN ARCHITECTURE ALONG WITH EDUCATION.

WHAT STATS AND NUMBER CANS NOT MEASURE IS THE INTRINSIC VALUE OF ART AND PERFORM HANS.

THAT VALUE IS WELL UNDERSTOOD BY FELICIA, WHO WAS RECENTLY NAMED EXECUTIVE DIRECTOR OF NEWARK ARTS.

HER BACKGROUND IS BROAD.

SHE'S WORKED AS AN ARTIST, A CURATOR AND A TEACHER.

I SPOKE WITH HER ABOUT HER HOPES FOR THE ARTS AND AN ORGANIZATION WITH THIS MOTTO.

POWERING THE ARTS TO TRANSFORM THE LIVES.

THANK YOU FOR JOINING ME ON "NJ BUSINESS BEAT."

IT'S NICE TO MEET YOU.

>> THANK YOU.

NICE TO MEET YOU AS WELL.

>> YOU ARE FAIRLY NEW TO NEWARK ARTS.

WHAT ATRAKTED YOU TO THE ORGANIZATION?

>> WELL, I FIRST CAME TO NEWARK IN 2011 THROUGH THE AVENUE OF DANCE FOUNDATION AS A DIRECTOR OF THE FIRST IN CAMP.

AND COMPLETELY FELL IN LOVE WITH THE CITY AND THE CHILDREN.

WE HOUSED 100 MIDDLE SCHOOLERS AT ARTS HIGH FOR ABOUT SIX WEEKS, AND IT HONESTLY WAS ONE OF THE GREATEST EXPERIENCES OF MY LIFE.

THE CHILDREN COMPLETELY SURPRISED US AFTER SIX WEEKS OF INTENSE STUDY IN DANCE, VISUAL ARTS, DRUMMING, AND THEY PERFORMED AT THE NEW JERSEY PERFORMING ARTS CENTER AT THE END OF THAT SESSION AND THEIR PARTI PARENTS WERE BLOWN AWAY.

THESE CHILDREN WERE NOT PROFESSIONAL DANCERS AND THEY PERFORMED AS IF THEIR LIVES DEPENDED ON IT.

THEY COMPLETELY LEFT BLOOD ON THE DANCE FLOOR.

THAT'S WHAT GOT ME EXCITED ABOUT NEWARK IS SEEING THE ARTS IN NEWARK THROUGH THE EYES OF THE CHILDREN.

>> THAT IS SUCH AN AMAZING AND INSPIRING STORY.

HOW DO YOU TAKE THAT EXPERIENCE AND REPLICATE THE VIBRANCY OF WHAT YOU SAW ON THE STAGE FOR OTHER ORGANIZATIONS IN NEWARK?

>> SO THAT WAS MY INTRODUCTION TO NEWARK AND SHOWING ME HOW DOPE LY DEEPLY THE TALENT RUNS N THIS CITY.

AND IT HAS BEEN TRA TDITIONALLY UNRESOURCED.

THERE'S SO MANY RESOURCES NOW.

THROUGH OUR PARTNERS AND THESE ARE THE FIRSTOUNDATIONS THAT AR ROOTED IN NEWARK THAT HELP ORGANIZATIONS LIKE MINE, A SMALL NONPROFIT TO SERVE ARTISTS OF EVERY AGE AND AT NEWARK ARTS, WE'RE INTERESTED IN THE CHILDREN WHO ARE BUDDING ARTISTS AND THE ESTABLISHED ARTISTS.

AND SO IT'S REALLY EXCITING TO BE HERE AT THIS TIME IN A CITY WHERE THE MAYOR HIMSELF IS AN ARTIST AND COMPLETELY SUPPORTS THE ARTS AND SO MANY DIFFERENT INITIATIVES.

I HAVE BEEN ABLE TO ENGAGE WITH THE MAYOR AND SO MANY STAKEHOLDERS.

THE PASSION BEHIND THE FUNDRAISING AND THE DONEES HERE IS LIKE NOTHING I HAVE EVER SEEN.

THEY ARE FULLY INVESTED IN THE COMMUNITY.

>> HOW DO YOU THINK OTHER ORGANIZATIONS CAN LEARN ABOUT WHAT'S HAPPENING IN NEWARK AND TRY TO TAKE THAT HOME WITH THEM.

WE ALWAYS HEAR THAT ARTS IN GENERAL NEEDS MORING.

SO HOW DOES THE MESSAGE GET OUT THERE THAT ARTS ORGANIZATIONS ARE WORTH FUNDING AND THERE'S A RETURN ON THE INVESTMENT?

>> THAT'S PART OF THE REASON ARTS EXIST.

TO MAKE SURE THAT FUNDERS, PREPARATIONS, PRIVATE DONORS AND ANYONE WHO IS JUST A REALLY CITIZEN KNOWS HOW IMPORTANT THE ARTS ARE TO DRIVE THE ECONOMY.

AMERICANS FOR THE ARTS CONDUCTED THE PROSPERITY FIVE REPORT THAT RELAYED TO US THAT THE ARTS HAVE DRIVEN THE ECONOMY BY MILLIONS OF DOLLARS.

AND THAT'S SOMETHING THAT ARTISTS DON'T REALLY THINK ABOUT AND PROBABLY CORPORATIONSEN DON'T THINK ABOUT.

IF YOU INVEST IN THE ARTIST, THEY WILL DRIVE BUSINESS INTO THE CITY.

THEY WILL BE AMBASSADORS OUTSIDE OF THE CITY TO DRAW MORE PEOPLE IN.

WE REALLY ARE AN OPPORTUNITY FOR THE CITY TO AND TO DRIVE ECONOMIC DEVELOPMENT HERE.

>> IT'S BEEN A PLEASURE SPEAKING WITH YOU.

THANK YOU SO MUCH.

>> THANK YOU.

>>> WHILE MANY DREAM OF PURSUING THEIR ARTISTIC PASSIONS ON A FULL-TIME BASIS, IT'S A BIG STEP TO TAKE AND ONE NOT WITHOUT FINANCIAL RISK.

WE TALKED TO ONE ARTIST WHO DECIDED TO MAKE THE JUMP.

BORN AND RAISED, THIS CONTEMPORARY ARTIST IS PUTTING PAINT BRUSH TO CANVAS WHILE ALSO TURNING HIS ARTWORK INTO DIGITAL ASSETS SELLING HIS ART AS TOKENS.

JACK, NICE TO TALK TO YOU ON "NJ BUSINESS BEAT."

I'M EM IMPRESSED WITH YOUR ARTW.

WHAT'S IT LIKE BEING AB ARTIST THESE DAYS AND TRYING TO ADVANCE YOUR CAREER?

>> SO IT'S A LOT OF FUN.

I LOVE IT.

I COULDN'T IMAGINE DOING ANYTHING ELSE.

BUT IT'S DEFINITELY TOUGH.

YOU HAVE TO ORIGINALLY BEFORE I FULLY LAUNCHED INTO BEING A FULL-TIME ARTIST, I DIDN'T REALIZE THAT IT'S BASICALLY RUNNING A BUSINESS, A COMPANY BUILT ON MYWORK.

SO THERE'S LOTS OF MEDIA INVOLVED.

BE YOU ALSO CAN'T LET THAT DISTRACT YOU.

TOUGH CREATE ARTWORK.

AND JUST TRY TO KEEP YOUR MIND RIGHT.

TRY TO STAY INSPIRED ON A DAILY BASIS IS A CHALLENGE, BUT IT'S THE CHALLENGE THAT I LOVE.

>> ONE AVENUE FOR YOU LATELY IS VENTURING INTO NFTs AND HAVING YOUR ARTWORK PURCHASED AND SHOWN IN A DIFFERENT WAY.

WHY DID YOU DECIDE TO CONSIDER ADD ING NFTs AS PART OF YOUR BUSINESS?

>> I THINK IT'S IMPORTANT TO EXPERIMENT AND TO ALSO EVOLVE WITH THE TIMES.

SO AT FIRST I JUST WANTED TO EXPERIMENT WITH THIS NEW MEDIUM AND SEE WHAT WAS HAPPENING AND THEN ALL OF A SUDDEN, YOU REALLY STARTED TO BLOW UP.

I FELT I HAD A LOT TO CONTRIBUTE.

SO I STARTED CREATING MULTIPLE FORMS OF NTs.

SOME ARE JUST IMAGES.

SOME ARE CREATED PURELY DIGITAL.

AND THEN SOME THAT ARE MORE OF A COLLECTIBLE THAN THEY ARE ARTWORK.

>> AND HAVE YOU BEEN ABLE TO MAKE MONEY USING THE NFTs?

>> PIECES DON'T SELL FOR THE SAME AMOUNT THAT AN ORIGINAL PAINTING OF MINE MIGHT SELL, BUT THEY ARE SELLING SLOWLY.

THEY ARE MOVING ALONG IN A GOOD DIRECTION FOR THE VISION THAT I HAVE.

BECAUSE AT THIS STAGE, I'M MOSTLY SEE IT AS ESTABLISHING DIGITAL INFRASTRUCTURE FOR MY BUSINESS WHERE I CAN GET PEOPLE A CHEAPER, MORE AFFORDABLE ENTRY POINT INTO MY ARTWORK THAT MIGHT ALLOW HEM TO INTERACT WITH ME IN THE DIGITAL WORLD TEN YEARS FROM NOW IN A WAY THAT MIGHT OTHERWISE LOST THEM.

>> IT'S INTERESTING BECAUSE IT'S EARLY DAYS WITH NFTs, BUT THE POINT ABOUT GIVING PEOPLE AN ENTRY INTO THE ART WORLD FOR A LOWER PRICE.

COULD THIS BE A HUGE BOOST FOR THE ARTISTRY DO YOU THINK AS SOMEBODY THAT'S TRYING TO NAVIGATE YOUR WAY THROUGH IT?

THERE'S SO MUCH THAT CAN HAPPEN WITH NFTs.

THERE'S SO MUCH THAT YOU CAN DO BY ONE, GIVING BACK TO YOUR COLLECTORS IN A UNIQUE WAY.

WHEN PEOPLE PURCHASE YOUR NFTs, YOU KNOW EXACTLY THE HOLDERS OF THOSE PARTICULAR PIECES.

SO YOU CAN INSTANTLY SEND THEM NEW ARTWORK.

YOU CAN OFFER REWARDS TO COLLECTORS THAT HOLD YOUR ARTWORK, SO YOU CAN INCLUDE THEM INTO YOUR CREATIVE PROCESS IN THAT WAY.

BUT IT ALSO ALLOWS FOR ARTISTS AND COMPANIES AND BRANDS TO CREATE SOMETHING MORE THAN JUST THE ART THAT THEY ARE CREATING.

>> IT'S BEEN GREAT GETTING TO TOE YOU A LITTLE BIT AND YOUR ARTWORK.

THANK YOU FOR SPENDING SOME TIME WITH ME.

>> ABSOLUTELY.

THANK YOU FOR HAVING ME.

>>> NEW JERSEY'S ARTS COMMUNITY THRIVES IN PART DUE TO ART PRIDE, WHICH IS THE STATE'S LARGEST ARTS SERVICE AND ADVOCACY ORGANIZATION.

THE GROUP WORKS TO SECURE FUNDING IN ADVANCED POLICIES THAT INVEST IN ARTS ACROSS ALL SECTORS.

THAT'S NEEDED NOW MORE THAN EVER.

WHILE SHOWS AND PERFORMANCES ARE BACK, ATTENDANCE IS STILL LAGGING.

WHILE COVID CASES HAVE DECLINED SIGNIFICANTLY, WE DON'T KNOW IF AND WHEN CASES MAY START RISING AGAIN.

WE SPOKE WITH ART PRIDES DIRECTOR OF ADVOCACY AND PUBLIC POLICY ANN MARIE MILLER ABOUT THOSE ISSUES.

>> ANN MARIE, I ALWAYS LOVE SPRING BECAUSE IT FEELS LIKE THE ARTS SCENE REALLY COMES TO LIFE.

ARE WE SEEING A NORMAL SPRING FOR THE ARTS IN NEW JERSEY OR IS THERE STILL A BIT OF A PANDEMIC HANGOVER, IF YOU WILL?

>> YES, THERE IS A BIT OF A PANDEMIC HANGOVER.

WHAT I'M HEARING THE STATE ART COUNCIL DID A SURVEY OF ORGANIZATIONS AROUND THE STATE ABOUT TEN DAYS AGO, MAYBE TWO WEEKS AND THEY WERE REPORTING THAT ATTENDANCE ON AVERAGE IS ABOUT 44%.

OF CAPACITY.

>> SO THAT'S OBVIOUSLY A TOUGH FIGURE TO WORK WITH FOR ARTS ORGANIZATIONS.

>> YEAH, ABSOLUTELY.

IT'S DIFFICULT, UNPREDICTABLE, DEPENDING UPON THE NEWS SOMETIMES.

AND JUST PEOPLE BEING COMFORTABLE GOING BACK INTO A SETTING WHERE THERE ARE HUNDREDS OR THOUSANDS OF PEOPLE.

>> ARE YOU WORRIED THAT ARTS ORGANIZATIONS IN NEW JERSEY ARE GOING TO FAIL THIS YEAR BECAUSE OF A WELCOME OF RESOURCES, A WELCOME OF ATTENDANCE?

>> ARE THEY GOING TO FAIL, I THINK GROUPS WILL TRY TO STAY OPEN AS MUCH AS THEY POSSIBLY CAN.

I THINK IF THE PANDEMIC NOW STAYS AT A SUBSIDED LEVEL, AND ATTENDANCE INCREASES, THAT WILL HELP.

WHAT I THINK REALLY IS THE BIGGEST DRIVING FACTOR RIGHT NOW IS JUST THE UNPREDICTABILITY OF THE FUTURE.

WILL THEY HAVE TO GO THROUGH THIS AGAIN.

WHEN THE COLD WINTER MONTHS COME, WILL THERE BE A LACK OF REVENUE.

THERE'S NO SUSTAINABILITY, DEPENDABILITY THAT FLUCTUATION IS WHAT EVERYBODY IS TRYING TO PREPARE FOR NOW, WHICH IS WHY RECOVERY FUNDS ARE SO IMPORTANT.

>> WHAT HAS BEEN ONE OF THE BIGGEST SUCCESSES OR SUCCESS FOR ARTS ORGANIZATIONS THIS PAST YEAR?

PUTTING THE MONEY ASIDE, WERE THEY ABLE TO PERHAPS PIVOT IN THEIR OFFERINGS, MOVE VIRTUALLY, OR HOW WOULD YOU DESCRIBE THE BIGGEST SUCCESS?

>> YO NAILED IT.

EVERYBODY PIVOT ED, BUT THE CREATIVE SECTOR, I THINK, WAS REALLY, TO BE REDUNDANT, CREATIVE.

THERE WERE SO MANY VIRTUAL OFFERINGS PROVIDED BY SO MANY DIFFERENT ARTS ORGANIZATIONS, AND AT THE SAME TIME, THERE WERE ALSO TAKE-HOME ACTIVITIES THAT MUSEUMS PROVIDED, WHEN PARENTS WENT TO PICKUP SCHOOL LUNCHES, THEY WOULD PICK UP SOMETHING FOR THEIR CHILDREN TO DO AT THE SAME TIME.

I THINK ARTS AND ENTERTAINMENT VALUE WAS ESSENTIAL TO MENTAL HEALTH OF ALL OF US AS WE'RE GOING THROUGH ISOLATION DURING THE PANDEMIC.

SO THE VIRTUAL OFFERINGS PLAYED A HUGE ROLE.

MANY ARTS GROUPS WERE ABLE TO REACH LARGER AUDIENCES OUTSIDE OF THEIR LOCAL AUDIENCES THROUGH VIRTUAL PERFORMANCES AND VIRTUAL OFFERINGS.

THEY ARE GOING TO CONTINUE TO TRY TO DO THAT, BUT THAT'S ALSO DEMANDING IN TERMS OF RESOURCES.

TECHNICAL RESOURCES, EQUIPMENT, ADAPTING TO THAT SETTING.

>> IT'S BEEN NICE HEARING WHERE THINGS STAND AND I HOPE THE FUTURE CONTINUES TO BRIGHTEN FOR ARTS ORGANIZATIONS AROUND THE STATE.

THANK YOU FOR YOUR WORK.

>> THANK YOU SO MUCH FOR INVITING ME TO LEND A FEW WORDS.

>> THAT WRAPS UP OUR SHOW FOR THIS WEEK.

THANK YOU FOR WATCHING "NJ BUSINESS BEAT."

I'M RHONDA SCHAFFLER.

YOU ENJOY YOUR WEEKEND >> FUNDING FOR "NJ BUSINESS .

HAS BEEN FOCUSED ON ADVANCEMENT AND SUCCESS OF OUR MEMBERS.

on the EMPLOYEES REPRESENTING ALL INDUSTRIES, WORKING TOGETHER TO HELP BUILD A MORE PROSPEROUS NEW JERSEY THROUGH ADVOCACY, SUPPORT, NETWORKING AND BENEFITS.

NJ SCHOOL OF BUSINESS, A GAME-CHANGING FORCE OFFERING PROGRAMS LIKE FINANCIAL TECHNOLOGY OR BUSINESS ANALYTICS AND DATA SCIENCE.

STEPS AWAY FROM THE EXCHANGE PLACE IN JERSEY CITY AND MINUTES FROM WALL STREET.

LEARN MORE AT NJCU.

AND LOCAL 102, PROUDLY SERVING NEW JERSEY'S BUSINESS COMMUNITY SINCE 1900.

LOCAL 102, LIGHTING THE PATH, LEADING THE WAY, VISIT IBEW102.ORG.