>>> PROVIDED BY IEW, 102, PROBABLY SERVING NEW JERSEY'S BUSINESS COMMUNITY SINCE 1900.

LOCAL 102, LIGHTING THE PASS, LEADING THE WAY.

AND FOR MORE THAN 110 YEARS, NJBIA HAS BEEN FOCUSED ON THE ADVANCEMENT AND SUCCESS OF OUR MEMBERS.

WE REPRESENT ALL INDUSTRIES, WORKING TOGETHER TO HELP BUILD A MORE PROSPEROUS NEW JERSEY, FOR ADVOCACY, SUPPORT, NETWORKING, AND BENEFITS.

>> THIS WEEK ON "NJ BUSINESS BEAT", ACCELERATING THE PATH TO CLEAN ENERGY, HOW THE BUSINESS COMMUNITY IS REACTING TO THE GOVERNORS UPDATE TO HIS ENERGY HIGH-RISE.

PLUS -- >> THERE IS REASON TO BE CAUTIOUS.

>>> THE TWO AREAS OF CONCERN FOR BUSINESSES AND CONSUMERS FROM THE LATEST INFLATION REPORT.

>>> AND WE DIG INTO THE FINANCES BEHIND YOUR CHILD'S EDUCATION, INCLUDING GREATER FINANCIAL TRANSPARENCY FOR OUR STRUGGLING COLLEGES AND UNIVERSITIES, AND WHAT A CHARTER SCHOOL EXPANSION MEANS FOR YOUR KIDS.

THAT IS AHEAD ON "NJ BUSINESS BEAT".

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

>> THANKS FOR JOINING US ON "NJ BUSINESS BEAT".

I AM RHONDA SCHAFFLER.

NEW JERSEY IS GOING GREENER, SOONER, AND IT IS GOING TO MEAN BIG CHANGES FOR YOU.

GOVERNOR PHIL MURPHY THIS WEEK ANNOUNCING HE IS MOVING UP THE TARGET FOR EMPOWERING NEW JERSEY ON 100% CLEAN ENERGY.

THE NEW DEADLINE IS 2235, 15 YEARS EARLIER THAN THE ORIGINAL TARGET.

UNDER THE MERCY PLAN BY 2035, ALL VEHICLES SOLD IN THE STATE MUST BE ELECTRIC.

ALL ELECTRICITY IN THE STATE MUST COME FROM A RENEWABLE SOURCE, RATHER THAN FOSSIL FUELS.

AND TO GET THERE, HE WANTS THOUSANDS OF HOMES AND COMMERCIAL SPACES TO USE ELECTRICITY OR OTHER RENEWABLE ENERGY SOURCES INSTEAD OF FUEL FOR HEATING BY 2030.

IN RESPONSE, THE NEW JERSEY BUSINESS AND INDUSTRY ASSOCIATION SAID THAT WE SHOULD KNOW FROM THE START WHAT THE OVERALL ACTUAL COST WILL BE FROM NEW JERSEY RESIDENTS.

ADDING, THE ALL ELECTRIC EFFICIENT POLICIES THE ADMINISTRATION SEEKS IGNORES OR DISCOUNTS OTHER OPTIONS FOR CARBON REDUCTION THAT WILL DEVELOP OVER TIME, SUCH AS HYDROGEN, RENEWABLE NATURAL GAS, AND OTHER EMERGING TECHNOLOGIES.

WHILE WE SUPPORT OUR WIND AND SOLAR INDUSTRIES, WE CANNOT D CARBONIZED OUR ELECTRICITY SECTOR BY RENEWABLES ALONE.

FOR BOTH BUSINESSES AND HOUSEHOLDS, WE JUST CANNOT CATCH A BREAK WHEN IT COMES TO RISING PRICES.

INFLATION IS STILL RISING AND HAVING AN IMPACT ON OUR ECONOMY.

IN JANUARY, THE CONSUMER PRICE INDEX ROSE 0.5%, SHOWING AN ANNUAL INCREASE FOR INFLATION OF 6.4%.

NOW, THAT ANNUAL RATE IS DOWN A BIT FROM DECEMBER, AND DOWN FROM THE 40 YEAR HIGHS WE SAW OVER THE SUMMER.

BUT, THAT DOESN'T TAKE AWAY THE STING OF HAVING TO PAY MORE FOR A LOT OF ESSENTIALS.

FOOD PRICES ROSE BY 0.5% IN JANUARY, THE COST OF ENERGY UP 2%.

AND KEEPING A ROOF OVER YOUR HEAD WAS PRICIER, TOO.

SHELTER COSTS CLIMBED 0.7%.

ONE NEW JERSEY EXECUTIVE, OCEAN FIRST BANK CEO CHRISTOPHER MAUER, REMAINS CONCERNED ABOUT RISING COSTS FOR BOTH LASER AND HOUSING.

>> THE COST OF HOUSING CONTINUES TO BE A CHALLENGE, AND IT IS NOT JUST ABOUT INTEREST RATES, THAT IS CERTAINLY PART OF IT.

BUT YOU ARE SEEING RENTAL COSTS STILL RISING.

SO, ALTHOUGH THE MARKET HAS COOLED DOWN, THAT HAS NOT TURNED INTO MORE AFFORDABLE HOUSING FOR FOLKS, ESPECIALLY IN THE NORTHEAST AND IN NEW JERSEY.

>>> NEW NUMBERS THIS WEEK ON GAMBLING REVENUE, INCLUDING THE LATEST ON SUPER BOWL BETS.

THE DIVISION OF GAMING ENFORCEMENT SAYS PRELIMINARY NUMBERS SHOW BETTING ON THE SUPER BOWL TOTAL JUST OVER $109 BILLION, THAT RESULTED IN A WIN OF $12.8 MILLION FOR NEW JERSEY'S SPORTS WAGERING BOOKS.

THE DOLLAR AMOUNT OF BETS PLACED ON THE GAME WAS LESS THAN LAST YEAR.

EACH TIME THE DIVISION SAYS GROSS REVENUE FOR SPORTS BETTING WAS UP IN THE MONTH OF JANUARY FOR MORE THAN 20%, AND GAINING REVENUES FOR ATLANTIC CITY'S CASINOS ALSO ROSE IN THE JANUARY COMPARED TO A YEAR AGO.

>>> A JOB TRAINING PROGRAM DESIGNED TO GIVE SOME PEOPLE A SECOND CHANCE IS EXPANDING IN THE STATE.

THE PROGRAM -- CALLED JUDICIAL OPPORTUNITIES FOR BUILDING SUCCESS -- PROVIDES WORKFORCE DEVELOPMENT TRAINING AND EMPLOYMENT OPPORTUNITIES TO THOSE WHO ARE ON PROBATION.

IT WAS ESTABLISHED BY THE NEW JERSEY PRESIDENTS COUNCIL, AND FUNDED BY A $3 MILLION STATE GRANT.

AMONG THOSE WHO PILOTED THE PROGRAM, STOCKTON UNIVERSITY, WAS RETIRED SUPERIOR COURT JUDGE MARK SAMSON.

>> IT IS NO LONGER ENOUGH TO MAKE SURE SOMEONE DOES NOT GET CAUGHT COMMITTING A CRIME WITHIN THE TWO, THREE, FOUR, FIVE YEARS OF PROBATION.

NOW, THE EMPHASIS IS GETTING THEM A JOB, A GOOD JOB AT A LIVING WAGE, WITH BENEFITS, IN ORDER TO SUCCESSFULLY COMPLETE PROBATION.

>>> NEW JERSEY'S LEGAL CANNABIS MARKET IS JUST REALLY GETTING OFF THE GROUND AND IS EXPECTED TO CONTINUE TO GROW, PRODUCING ADDITIONAL REVENUE FOR THE STATE.

THE CANNABIS REGULATORY COMMISSION HAS BEEN HOLDING PUBLIC HEARINGS TO CONSIDER HOW NEW JERSEY SHOULD SPEND THE REVENUE MADE FROM RECREATIONAL MARIJUANA SALES.

NOW, A NEW RECORD EAGLETON CENTER POLL ASKED NEW JERSEY RESIDENTS TO WEIGH IN.

THE SURVEY OF 1000 RESIDENTS FOUND 23% BELIEVE REVENUE SHOULD BE SPENT ON EDUCATION.

21% FAVOR USING THE FUNDS TO INVEST IN COMMUNITY HEALTH INITIATIVES.

15% BELIEVE AFFORDABLE HOUSING SHOULD BE A TOP PRIORITY.

13% WANT THE MONEY INVESTED IN TRANSPORTATION AND INFRASTRUCTURE, AND 11% WANT THE REVENUE INVESTED IN POLICE, PRISONS, AND COURTS.

ASHLEY CUMMINGS, DIRECTOR OF THE EAGLETON CENTER FOR PUBLIC INTEREST POLLING, REACTED TO THE TOP CHOICES OF EDUCATION AND HEALTH.

>> WELL, OBVIOUSLY, THESE ARE TWO ISSUES THAT ARE VERY NEAR AND DEAR TO NEW JERSEY, AND EDUCATION HAS BEEN A PERENNIAL ISSUE -- WHILE WE ARE KNOWN FOR SOME OF THE BEST EDUCATION IN THE COUNTRY, THIS IS ALWAYS A TOP ISSUE FOR NEW JERSEYANS POINT AND OF COURSE, THE ISSUE OF PUBLIC HEALTH COINCIDING WITH THINGS LIKE SUBSTANCE ABUSE AND SUBSTANCE USAGE, AS WELL.

>>> ON "NJ BUSINESS BEAT", WE ARE CONTINUING TO FEATURE BLACK OWNED BUSINESSES AND ENTREPRENEURS AS WE MARK BLACK HISTORY MONTH.

WE BRING YOU THE STORY OF JERSEY GIRL, LOLA BANJO, WHO IS THE FOUNDER OF AND CREATIVE DIRECTOR AT SILVER AND RILEY, A LUXURY TRAVEL AND ACCESSORIES COMPANY.

LOLA LAUNCHED SILVER AND RILEY IN 2019.

IT IS NOW A MULTIMILLION DOLLAR BUSINESS WITH PRODUCTS AVAILABLE AT HIGH-END RETAILERS, NORDSTROM AND SAKS.

LOLA IS THE STORY OF PERSEVERANCE AFTER REJECTION, AND TRYING TO MAKE HER WAIT IN AN INDUSTRY DOMINATED BY WHITE MEN.

LOLA JOINED ME FOR A CONVERSATION EARLIER THIS WEEK.

>> LOLA, IT IS GREAT TO HAVE YOU ON "NJ BUSINESS BEAT" THIS WEEK.

>> THANK YOU SO MUCH FOR HAVING ME, RHONDA.

IT IS MY PLEASURE TO BE HERE.

>> THERE IS SO MUCH TO TALK ABOUT WITH YOUR STORY, BUT I THINK THE FAVORITE PIECE OF IT IS, AS AN ENTREPRENEUR, HERE ARE THE LESSONS FOR EVERYONE.

YOU WERE REJECTED MORE THAN 100 TIMES FROM MANUFACTURERS.

TALK TO ME ABOUT HOW YOU PERSEVERED THROUGH ALL OF THOSE REJECTIONS TO MOVE FORWARD WITH THE COMPANY?

>> OF COURSE IT HURTS WHEN YOU INITIALLY GET REJECTED, BUT I THINK AFTER THE FIRST 40 OH SO, I SAID, LOLA, WHAT CAN YOU LEARN FROM THIS?

YOU HAVE TO MAKE SURE THAT YOU ARE LEARNING AND TAKING THIS, AND IMPROVING YOURSELF, IMPROVING YOUR CHANCES.

AS I WENT ALONG, IT KEPT GETTING BETTER AND BETTER, AND I WAS ABLE TO GET TO A PLACE WHERE I EVENTUALLY FOUND THREE AMAZING MANUFACTURERS TO WORK FOR ME, AND IT JUST TOOK THAT PERSEVERANCE, NOT TAKING NO FOR AN ANSWER, AND ALSO DOING THE WORK, AS WELL.

IT IS IMPORTANT TO DO THE WORK.

YOU HAVE TO LISTEN TO WHAT THEY ARE TELLING YOU.

BUT, WHAT IS IT TELLING YOU?

USUALLY IT IS, NOT YET.

USUALLY IT IS, HEY, YOU NEED TO WORK ON THIS AND COME BACK.

SO, I WAS ABLE TO TAKE THAT WITH A LOT OF HUMILITY AND WORK ON MYSELF.

>> AND OF COURSE, YOU WENT ON TO HAVE GREAT SUCCESS, BUT THERE ARE STILL CHALLENGES.

AND ONE THING I KNOW THAT YOU THINK ABOUT IS FASHION BRANDS OWNED BY BLACK WOMEN DO NOT GET THE KIND OF SUPPORT YOU THINK THEY DESERVE.

WHAT IS GOING ON THERE?

>> IF YOU THINK ABOUT THE SUCCESSFUL BLACK WOMEN DESIGNERS THESE DAYS, YOU KNOW, A FEW BIG NAMES COME TO MIND.

RIHANNA, FOR INSTANCE, SHE HAD CRITICAL ACCLAIM BEFORE SHE BECAME A DESIGNER, SO SHE WAS ABLE TO USE THAT ACCLAIM TO REALLY BE THE OIL IN THE ENGINE, TO GET HER TO SUCCESS.

SO, BEING SOMEONE THAT IS, YOU KNOW, USED TO THIS INDUSTRY, COMING INTO THIS INDUSTRY WITHOUT THE FASHION TRAINING OR BACKGROUND, I DO NOT HAVE THE NETWORK IN THE FASHION INDUSTRY.

TRYING TO MAKE AN IN WAY HAS BEEN CHALLENGING.

IT HAS BEEN A CHALLENGE THAT I HAVE TAKEN TO THE HEAD AND JUST TRIED TO NAVIGATE.

BUT, IT IS TOUGH.

ABSOLUTELY, WE NEED MORE SUPPORT FOR BLACK WOMEN DESIGNERS.

>> LOLA, YOU SPEAK OF WHAT YOU CALL THE UNSPOKEN COST OF HIGH INTEGRITY.

WHAT DOES THAT MEAN FOR AN ENTREPRENEUR?

>> YOU KNOW, YOU HAVE COST PRESSURES, INFLATION PRESSURES, MACROECONOMIC THINGS THAT YOU HAVE TO CONSIDER, AND THEN ON THE CUSTOMER SIDE, YOU HAVE TO MAKE SURE YOU ARE BUILDING A REALLY GREAT CUSTOMER EXPERIENCES, SO ON, SO FORTH.

WHEN YOU ARE A SOLAR ENTREPRENEUR LIKE MYSELF COME A IT CAN BE A LITTLE BIT INUNDATING TO TRY TO BALANCE ALL OF THOSE THINGS BY YOUR SELF.

BECAUSE OF THAT, YOU FIND THAT SOME ENTREPRENEURS LEAD TO THOSE PRESSURES BY, YOU KNOW, USING MORE MATERIALS THAT COST LESS, BUT ALLOW THEM TO BE ABLE TO MEET THEIR MARGINS.

AND MARKET IT IN A CERTAIN WAY.

AND YOU SEE THAT A LOT IN MY INDUSTRY.

YOU KNOW X SO, AND WHEN I SAY THAT, IN TERMS OF THE HIGH COST OF INTEGRITY, I DON'T MEAN IT IN A WAY TO CHASTISE PEOPLE THAT ACTUALLY TAKE THAT ROUTE, BECAUSE I RECORD HIGHS THAT IT IS TOUGH TO HOLD THAT INTEGRITY AND MAKE MONEY AT THE SAME TIME.

>> LOLA, I AM SO HAPPY WE GOT THE CHANCE TO SPEAK AND MEET YOU.

THANK YOU FOR YOUR TIME.

>> THANK YOU.

>>> IN A FEW SHORT WEEKS, GOVERNOR MURPHY WILL OUTLINE HIS BUDGET PRIORITIES FOR THE NEXT FISCAL YEAR, AND MANY IN THE STATE ARE EAGERLY AWAITING HOW MUCH SPENDING WILL BE ALLOCATED FOR EDUCATION IN NEW JERSEY.

AHEAD OF THAT, WE ARE PUTTING EDUCATION IN FOCUS THIS WEEK.

WE START WITH A LOOK AT HIGHER EDUCATION IN THE STATE.

NEW JERSEY HAS MORE THAN 30 PUBLIC UNIVERSITIES AND COLLEGES WITH A TOTAL ENROLLMENT OF MORE THAN 297,000 STUDENTS AS OF 2021.

THE AVERAGE COST OF ATTENDING WHAT THE STATE EDUCATION DEPARTMENT CALLS A SENIOR NEW JERSEY UNIVERSITY OR COLLEGE, IS NEARLY $34,000 A YEAR.

THAT INCLUDES TUITION AND FEES, ROOM AND BOARD SUPPLIES, TRANSPORTATION, AND OTHER EXPENSES.

IT ALL ADDS UP TO NEARLY $142,000 FOR FOUR YEARS OF EDUCATION, AS OF THE 2020-2021 SCHOOL YEAR.

OF COURSE, COSTS TO REDUCE FINANCIAL AID PACKAGES GIVEN TO STUDENTS, IT IS WORTH NOTING THAT OUR NUMBERS EXCLUDE NEW JERSEY'S COMMUNITY COLLEGES, AS WELL AS NEW JERSEY'S IVY LEAGUE SCHOOL, PRINCETON, AND A FEW OTHERS.

BROOMFIELD COLLEGE, AN INSTITUTION THAT PRIMARILY SERVES MINORITY STUDENTS, SAID THAT IT WAS IN SERIOUS FINANCIAL TROUBLE AND WAS LOOKING FOR A STRATEGIC PARTNER TO KEEP ITS DOORS OPEN.

A YEAR LATER, MONTCLAIR STATE UNIVERSITY STEPPED IN AND SIGNED A MERGER AGREEMENT WITH BLOOMFIELD.

THE MERGER IS EXPECTED TO BE COMPLETED AT THE END OF JUNE.

BUT, THE COLLEGE WAS SAVED, JOBS WILL BE LOST.

PROFESSORS WILL SOON LEARN WHETHER THEY WILL HAVE JOBS WITH THE MERGED INSTITUTION.

THE FACULTY UNION AT BLOOMFIELD HAS FIRED AN UNFAIR PRACTICE COMPLAINT ALLEGING THAT BLOOMFIELD COLLEGE FAILED TO NEGOTIATE IN GOOD FAITH, WITH EMPLOYEES FACING TERMINATION WHEN THE EMPLOYEE MERGER IS FINALIZED BY JUNE 30th.

>>> ANOTHER INSTITUTION OF HIGHER ED IN NEW JERSEY FACING FINANCIAL WOES IS NEW JERSEY CITY UNIVERSITY.

LAST SUMMER, AND JC YOU DECLARED A FINANCIAL EMERGENCY, REVEALING A MULTIMILLION DOLLAR DEFICIT.

SINCE THEN, THE SCHOOL HAS LAID OFF EMPLOYEES AND PLANS TO TRIM ACADEMIC OFFERINGS.

NJCU HAS BROUGHT AN INTERIM PRESIDENT ANDRE TO TRY TO RIDE THE SHIP.

HE TALKED WITH DAVID CRUISE ON CHAT BOX.

>> I THINK FOR FAR TOO LONG, PERHAPS EVEN MORE OF A CRISIS ON THE CAMPUS.

IN A CRISIS THAT IS NOT INSURMOUNTABLE.

THE UNIVERSITY MAKES RECOMMENDATIONS, PRELIMINARY, NOT PERMANENTLY DECIDED ONCE, TO CONSOLIDATE AND REVITALIZE AN ACADEMIC PORTFOLIO THAT DRIVES ECONOMIC GROWTH.

THAT IS CRITICAL.

>> THE MERCY ADMINISTRATION IS LOOKING FOR MORE FINANCIAL TRANSPARENCY AT NEW JERSEY'S PUBLIC UNIVERSITIES AND COLLEGES.

THE GOVERNOR RECENTLY ANNOUNCED HIS SUPPORT FOR THREE BILLS DESIGNED TO SHED MORE LIGHT ON FINANCES AT HIGHER ED INSTITUTIONS, AS WELL AS REQUIRE MORE OVERSIGHT ON SPENDING.

NEW JERSEY'S SECRETARY OF HIGHER EDUCATION, BRIAN BRIDGES, SAID THAT BY BUILDING A STRONGER ACCOUNTABILITY MODEL, NEW JERSEY CAN BETTER SAFEGUARD THE LONG-TERM FINANCIAL STABILITY OF COLLEGES AND UNIVERSITIES.

I SAT DOWN WITH SECRETARY BRIDGES TO LEARN MORE.

>> SO, WE ARE LOOKING AT FINANCIAL TRANSPARENCY AT NEW JERSEY'S SCHOOLS.

WHY IS IT CRUCIAL, AT THIS TIME, TO INCREASE THE FINANCIAL TRANSPARENCY?

WHAT IS LACKING RIGHT NOW, AT UNIVERSITIES AND SCHOOLS?

AND IS A LACK OF TRANSPARENCY HURTING STUDENTS' EDUCATIONS IN THIS STATE?

>> RHONDA, THIS LEGISLATIVE PACKAGE WAS DEVELOPED AS PART OF OUR OFFICES EFFORTS TO ENSURE THE LONG-TERM FINANCIAL SUSTAINABILITY OF OUR STATE'S PUBLIC INSTITUTIONS OF HIGHER EDUCATION.

AND WE TAKE VERY SERIOUSLY OUR ROLE IN SERVING AS RESPONSIBLE STEWARDS OF TAXPAYERS IN HIGHER EDUCATION AND CREATING GREATER TRANSPARENCY FOR STUDENTS AND FAMILIES ACROSS THE STATE, AS THEY MAKE CRITICAL DECISIONS THAT IMPACT THEIR FUTURE.

WE HAVE TRIED TO CULTIVATE A CULTURE OF TRANSPARENCY IN ALL OF OUR EFFORTS AS AN AGENCY, SUCH AS OUR ADOPTION OF THE FINANCIAL AID SHOPPING, FOR INSTANCE.

THERE IS ALWAYS ROOM FOR IMPROVEMENT, OF COURSE.

ONE OF THE BILLS REQUIRES YOU TO RECEIVE ANNUAL FISCAL MONITORING REPORTS FROM UNIVERSITIES.

WHAT WILL YOU BE LOOKING FOR IN THOSE REPORTS?

AND HOW DO WE MAKE SURE TAXPAYERS ARE PROTECTED, AS WELL?

>> WELL, WE WILL WORK PROACTIVELY WITH OUR PUBLIC INSTITUTIONS TO BASICALLY LOOK UP ANY FINANCIAL STRESSES THEY MAY EXPERIENCE.

AND WHILE OUR OFFICE, OF EDUCATION, WOULD DEVELOP A REPORT IN ACCORDANCE WITH THE LAW AT HAND, WE DO HAVE SOME EXPERIENCE IN THIS ARENA.

LAST YEAR, THERE WAS LEGISLATION THAT PASSED FOR FISCAL MONITORING OF INDEPENDENT AND PROPRIETARY INSTITUTIONS OF HIGHER EDUCATION AND OUR OFFICE WAS WORKING CLOSELY WITH REPRESENTATIVE FROM THOSE SCEPTERS TO DEVELOP A PROCESS AND TEMPLATE IN OUR IMPLEMENTATION STAGE FOR CREATING RELEVANT FINANCIAL DATA FOR THAT SECTOR OF INSTITUTIONS.

>> AND OF COURSE, YOU WOULD HAVE THE POWER TO APPOINT A STATE MONITOR TO OVERSEE FISCAL OPERATIONS AND GOVERNANCE.

WHAT SORT OF CRITERIA WOULD YOU HAVE TO SEE BEFORE DECIDING A STATE MONITOR IS NECESSARY?

>> THE INSTITUTIONS FIT FISCAL MONITOR REPORT REFLECTS FINANCIAL INSTABILITY, OR IT REFLECTS AN ADVERSE OPINION BY AN INDEPENDENT AUDITOR DOING AN ANNUAL AUDIT.

THE INSTITUTIONS MUST ALSO MEET TWO OUT OF EIGHT ADDITIONAL CRITERIA, WHICH ARE CURRENTLY LISTED IN THE LEGISLATION, THINGS LIKE ENDING THE FISCAL YEAR WITH A DEFICIT, OR FAILING TO ADHERE TO ALL REQUIREMENTS, AMONG OTHERS.

>> I KNOW THAT THERE IS SOME NEED FOR THIS LEGISLATION.

BUT BY AND LARGE, WHEN YOU LOOK AT OUR INSTITUTIONS OF HIGHER EDUCATION IN NEW JERSEY, DO YOU FEEL CONFIDENT THAT WE ARE REALLY JUST TALKING ABOUT A MINORITY THAT REALLY NEEDS MORE TRANSPARENCY?

OR DO WE JUST NEED BROADER TRANSPARENCY ACROSS THE BOARD?

>> THIS BILL IS REALLY MEANT TO ENHANCE THE FINANCIAL HEALTH AND STABILITY OF OUR PUBLIC INSTITUTIONS AS ALL NEW JERSEYANS REBOUND FROM THE PANDEMIC AND TRY TO CHART A PATH FORWARD.

>> THANK YOU SO MUCH FOR YOUR TIME TODAY AND YOUR THOUGHTS.

I APPRECIATE IT.

>> THANK YOU, RHONDA.

I APPRECIATE THE OPPORTUNITY TO TALK ABOUT THIS VERY IMPORTANT PIECE OF LEGISLATION.

>>> THIS MONTH, THE MERCY ADMINISTRATION APPROVED EXPANSIONS AT 11 CHARTER SCHOOLS IN NEW JERSEY.

THE EXPANSIONS WILL OPEN NEARLY 2300 STATES FOR STUDENTS IN NINE CITIES AND TOWNS.

IT IS A BIG INCREASE FROM THE PRIOR EXPANSION.

NEW JERSEY HAS 85 CHARTER SCHOOLS ACROSS THE STATE, ENROLLING NEARLY 60,000 STUDENTS, AND 28,000 STUDENTS ARE ON WAITING LISTS.

ON AVERAGE, PUBLIC CHARTER SCHOOLS RECEIVED ABOUT $4600 LESS PER STUDENT, PER YEAR, WHEN COMPARED TO TRADITIONAL DISTRICT SCHOOLS.

BY ONE ESTIMATE, THOSE CHARTER SCHOOLS WILL NEED $900 MILLION OVER THE NEXT DECADE FOR THEIR FACILITIES.

71% OF NEW JERSEY'S CHARTER SCHOOL STUDENTS ARE FROM LOW- INCOME HOUSEHOLDS.

PAULA WHITE, EXECUTIVE DIRECTOR OF THE EDUCATION ADVOCACY GROUP , JERSEY CAMP, SAYS THAT CHARTER SCHOOLS PROVIDE AN IMPORTANT OPTION FOR THOSE FAMILIES.

>> PAULA, THANK YOU FOR JOINING ME TODAY ON "NJ BUSINESS BEAT".

>> THANK YOU SO MUCH FOR HAVING ME.

>> AS YOU KNOW, GOVERNOR MERCY RECENTLY DECIDED TO EXPAND SOME CHARTER SCHOOLS IN NEW JERSEY.

APPLICATIONS FOR EXPANSION WERE APPROVED, THIS IS SEEN AS A BIT OF A REVERSAL FROM THE GOVERNOR.

WHAT WAS YOUR REACTION TO THAT NEWS?

>> MY REACTION WAS NOTHING SHORT OF ELATION.

11 OF THE 13 SCHOOLS THAT WERE UP FOR SOME SORT OF RENEWAL OR EXPANSION WERE APPROVED, AND THEY, YOU KNOW, THOSE DECISIONS WERE INFORMED BY DATA, THEY WERE INFORMED BY COMMUNITY FEEDBACK, AND THAT IS EXACTLY WHAT SHOULD BE HAPPENING AS WE THINK ABOUT THE FUTURES OF OUR CHILDREN.

>> HOW MANY PARENTS WANT TO PUT THEIR CHILDREN IN CHARTER SCHOOLS?

SCHOOLS ARE EXPANDING, WE KNOW THERE IS DEMAND.

>> WE KNOW THERE ARE THOUSANDS OF PARENTS WHO HAVE THEIR NAMES, THEIR CHILDREN'S NAMES, ON WAITING LISTS ACROSS THE STATE OF NEW JERSEY.

THEY ARE INTERESTED IN THEIR CHILDREN HAVING THE OPPORTUNITY TO ATTEND ONE OF THE PUBLIC CHARTER SCHOOLS IN OUR STATE.

>> YOU HAVE MADE A POINT THAT BY EXPANDING CHARTER SCHOOLS, THERE ARE MORE OPPORTUNITIES, PARTICULARLY FOR BLACK AND BROWN CHILDREN, TO GET A BETTER EDUCATION.

DIVE INTO THAT WITH ME A LITTLE BIT?

>> I THINK WHAT WE SEE, IS THAT CERTAINLY SOME OF OUR LARGER CHARTERS ARE, YOU KNOW, CONCENTRATED ON URBAN AREAS.

YOU KNOW, WE THINK OF NEWARK, PATTERSON, TRENTON, AND OTHER CITIES AND TOWNS IN NEW JERSEY.

THESE ARE PLACES WHERE WE HAVE A CONCENTRATION OF BLACK AND BROWN CHILDREN, AND THE OUTCOMES OF THE TRADITIONAL DISTRICT SCHOOLS LEAVE A LOT TO BE DESIRED.

YOU HAVE HARD-WORKING FOLKS IN SCHOOLS ACROSS THE STATE, BUT THE REALITY IS THAT THERE IS AN UNEVENNESS IN TERMS OF OUTCOMES.

SO, WHERE WE SEE THESE PLACES -- FOR EXAMPLE, IN NEWARK, WE KNOW THAT HAVING THE SHARE OF PUBLIC CHARTER SCHOOLS AS PART OF THE ECOSYSTEM OF PUBLIC SCHOOLS IN NEWARK, WE KNOW THAT HAS MADE A DIFFERENCE IN TERMS OF OUTCOMES.

WE CAN SEE THE DATA.

WE SEE THAT IN SOME CASES, THOSE SCHOOLS ARE BESTING THE STATE.

AVERAGES, IN TERMS OF STUDENTS' ACHIEVEMENT OUTCOMES.

>> HOW WOULD YOU DESCRIBE THE FUNDING SITUATION FOR CHARTER SCHOOLS RIGHT NOW?

IS IT ADEQUATE, IN YOUR VIEW?

>> WELL, WE DO KNOW THAT CHARTERS RECEIVED, YOU KNOW, 90% OF WHAT TRADITIONAL PUBLIC SCHOOLS RECEIVED.

ONE OF THE KICKING POINTS HAS REALLY BEEN AROUND FACILITIES AND HOW FUNDING WORKS FOR FACILITIES.

>> FINALLY, SCHOOL CHOICES ONE OF THESE ISSUES THAT DIVIDE SOME PEOPLE.

DO YOU SEE THE CONVERSATION CHANGING AT ALL, IN THE FUTURE?

>> I SEE THAT PEOPLE ARE BECOMING MORE AND MORE AGNOSTIC OVER WHETHER IT IS A TRADITIONAL CHARTER SCHOOL, OR A TRADITIONAL PUBLIC SCHOOL.

AND WHAT THEY ARE THINKING ABOUT IS, WHAT IS THE RIGHT THING FOR MY CHILD?

>> PAULA, THANK YOU SO MUCH FOR YOUR TIME TODAY.

>> I APPRECIATE IT.

THANK YOU SO MUCH.

>>> WE ALSO WANTED TO TOUCH ON EDUCATION FOR OUR LITTLEST NEW JERSEYANS.

CHILDCARE, TAKE CARE, AND EARLY EDUCATION FACILITIES IN NEW JERSEY HAD A ROUGH GO OVER THE LAST COUPLE OF YEARS AS COVID- 19 FORCED CENTERS TO CLOSE.

STATE GROUND PENDING WAS A LIFESAVER FOR CHILDCARE PROVIDERS.

SOME LIKE ANNA, THE OWNER OF ABC ACADEMY IN BLOOMFIELD, HAVE GONE FROM STRUGGLING TO STAY OPEN, TO THINKING ABOUT EXPANDING.

HERE IS WHAT ANNA TOLD ME THIS WEEK.

>> ANNA, WELCOME TO "NJ BUSINESS BEAT", IT IS GOOD TO TALK TO YOU TODAY.

>> THANK YOU SO MUCH FOR HAVING ME HERE.

>> IT IS HARD TO BELIEVE, BUT WE ARE COMING UP ON THREE YEARS SINCE THE PANDEMIC RELATED LOCKDOWN.

YOU HAVE BEEN ON A JOURNEY WITH YOUR BUSINESS.

HOW ARE THINGS IN THE DAY CARE INDUSTRY FOR YOU RIGHT NOW, AND IN NEW JERSEY AS A WHOLE, WOULD YOU SAY?

>> SO, WE HAVE ACTUALLY OPENED -- IN THE MIDDLE OF THE PANDEMIC, WE WERE SUPPOSED TO OPEN RIGHT BEFORE THE LOCKDOWN, AND THEN THE LOCKDOWN HAPPENED AND WE OPENED IN OCTOBER, 2020.

I AM NOT GOING TO SAY IT WASN'T EASY, IT WAS VERY HARD.

WE LOST OUR ENTIRE ENROLLMENT DUE TO LOCKDOWN.

WE ONLY HAD CHILDREN FROM A HEALTHCARE WORKER.

BUT, IT PICKS UP VERY QUICKLY.

AND RIGHT NOW, I SEE A VERY, VERY LARGE NEED FOR A DAY CARE CENTER, VERY, VERY LARGE NEED FOR CHILDCARE, AND GENERAL.

WE ARE RECEIVING MULTIPLE PHONE CALLS EVERY DAY, ASKING FOR ENROLLMENT.

AND UNFORTUNATELY, I HAVE TO SAY NO BECAUSE WE DON'T HAVE ANY ROOM ANYMORE.

>> HAVE YOU BEEN ABLE TO FIND THE WORKERS THAT YOU NEED?

>> SO, I AM VERY LUCKY, I AM VERY BLESSED TO HAVE MY STAFF ON BOARD WITH ME.

MOST OF THEM HAVE BEEN HERE SINCE THE BEGINNING OF THE PANDEMIC.

SO, YES, IT IS NOT EASY TO GET GOOD STUFF NOWADAYS.

I THINK THE COMPETITION FROM OTHER FIELDS IS REALLY MESSING WITH US RIGHT NOW.

>> TELL ME ABOUT ANY FINANCIAL ASSISTANCE THAT YOU RECEIVED THROUGHOUT THE TIME OF THE PANDEMIC, AND HOW YOU WERE ABLE TO UTILIZE THOSE FUNDS?

>> WELL, WITH THE RAISING OPERATION COSTS, AND OVERALL COSTS, IT WAS VERY HELPFUL.

WE HAD A GRANT THAT WE USED TO PAY THE BILLS, PAY THE UTILITIES.

IT HELPED US A LOT.

AND CONSTANTLY FINDING SUPPLIES FOR CHILDREN, BECAUSE CHILDREN COME FIRST.

SO, WE HAVE TO MAKE SURE THAT THEY HAVE GOOD SUPPLIES, CENTERED IN AN ACADEMIC CURRICULUM.

THAT REQUIRES A LOT OF BOOKS, A LOT OF THINGS THAT THEY NEED TO USE THROUGHOUT THE DAY.

WE ALSO HAVE RECEIVED A PENSION GRANT FOR OUR TEACHERS, AS WELL.

>> DO YOU THINK A BUSINESS LIKE YOURS AND OTHER CHILDCARE CENTERS THROUGHOUT THE STATE WOULD HAVE BEEN ABLE TO MANAGE WITHOUT THE GRANTS THAT WERE HANDED OUT?

>> IT WOULD BE HARD, ESPECIALLY DURING THE PANDEMIC WHEN ENROLLMENT WAS LOW.

YOU WANT TO KEEP YOUR SPOUSE, AND YOU HAVE TO KEEP PAYING REGULAR BILLS.

>> WELL, I WISH YOU THE BEST OF LUCK AS YOU CONTINUE TO THINK ABOUT EXPANDING.

AND THANK YOU FOR TALKING TO ME TODAY.

>> THANK YOU SO MUCH.

>> THAT DOES IT FOR US THIS WEEK.

REMEMBER TO SUBSCRIBE TO OUR NJ SPOTLIGHT NEWS CHANNEL, TO GET ALERTED WHEN WE POST NEW EPISODES AND CLIPS.

>>> COMING UP NEXT WEEK, WE HIGHLIGHT THE INNOVATORS OF NEW JERSEY, USING THE GARDEN STATE TO LAUNCH THEIR BUSINESSES, PRODUCTS, AND SERVICES.

THANKS FOR WATCHING, AND WE WILL SEE YOU NEXT WEEKEND.

>>> FUNDING FOR "NJ BUSINESS BEAT" PROVIDED BY IBEW 102, PROUDLY SERVING NEW JERSEY'S BUSINESS COMMUNITY SINCE 1900.

LOCAL 102, LIGHTING THE PAST, LEADING THE WAY.

VISIT IBEW102.ORG.

AND FOR MORE THAN 110 YEARS, NJBIA HAS BEEN FOCUSED ON THE SUCCESS OF OUR NUMBERS.

WE ARE THE VOICE REPRESENTING ALL INDUSTRIES, WORKING TOGETHER TO HELP BUILD A MORE PROSPEROUS NEW JERSEY, FOR ADVOCACY, SUPPORT, AND BENEFITS.

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