Anthony Russo, President, Commerce & Industry Association of New Jersey

In an interview with Invest:, Anthony Russo, president of the Commerce & Industry Association of New Jersey, said that 2025 has been a year of transition marked by cautious optimism and the accelerating impact of artificial intelligence on business. “Now, AI is fully integrated into operations, whether in finance, manufacturing, or healthcare. It’s become a true economic disruptor, like Amazon was to retail or Uber to taxis.”

What changes have impacted the Commerce & Industry Association of New Jersey and its members over the past year?

2025 marks our 98th year in existence, so we’re approaching our 100th anniversary in just two years. If I had to sum up the year, I’d say the most notable shift has been the return to in-person work. Many of our member companies are now encouraging employees to return to the office more frequently than in recent years. There’s a general sense of cautious optimism across the business landscape; people are hopeful, but they’re still keeping an eye on global events, interest rates, workforce shortages, and challenges in education. It has been a transitional year, positive in many ways, but economically, it could have been stronger. We’re hopeful that things will improve as we move toward 2026.

What projects or accomplishments over the past year had the most impact on the association and its members?

The biggest story of 2025 has been the acceleration of artificial intelligence across nearly every business sector. A few years ago, people were just experimenting with tools like ChatGPT. Now, AI is fully integrated into operations, whether in finance, manufacturing, or healthcare. It has become a true economic disruptor, like Amazon was to retail or Uber to taxis. But alongside that, there’s also a strong recognition that AI is a tool, not a replacement for people. Our current and future workforce needs to understand how to work with AI, not be replaced by it.

How would you describe the business climate in New Jersey and its competitiveness?

Logistics remains one of the strongest sectors in New Jersey. Our ports, especially Port Elizabeth and Newark, are among the largest on the East Coast and sometimes even surpass Long Beach, California, depending on the week. That drives commerce, trucking, warehousing, and the movement of goods. Financial services are also strong, largely due to our proximity to New York City. Data centers are growing in importance, especially with the rise of AI. Healthcare continues to expand, with hospitals consolidating and forming networks that improve care delivery. Our higher education system is another asset. New Jersey is a diverse state, with a multilingual workforce that supports foreign direct investment. All of these elements combine to create a strong economic foundation.

What role do you see public-private partnerships playing in advancing economic growth statewide?

Investment tends to follow the path of least resistance, so government officials must work collaboratively with businesses and investors. They want to feel welcome and confident that their entrepreneurial efforts won’t be stifled by excessive red tape. The end goal is job creation. Private sector jobs strengthen the economy, increase the tax base, and allow the state to offer better public services. That’s why we encourage government leaders to view businesses as partners, not adversaries.

What legislative or regulatory developments is the association focused on, and what impact could they have on business development?

One major concern right now is the cost of energy in New Jersey, which has risen significantly over the past several years. This is, in part, due to the shift toward renewables. We’re urging the state to expand energy production through a balanced mix: natural gas, solar, and other technologies. Additionally, we’re closely watching tax policy and regulatory changes. It’s not that our members oppose taxes or regulations; those are realities. But when they become too burdensome or unclear, they can create unnecessary costs and delays. We advocate for smart, effective regulations that serve the public without stifling business growth.

What innovation-driven projects have you come across involving the public and private sectors?

The Helix is a great example. Another similar project is The Nest, which focuses on innovation and technology and is located near Kean University and NJIT. Rutgers is also heavily involved in these types of initiatives. Across the state, we’re seeing innovation hubs emerge that bridge academia and industry. The film industry is also booming here, with studios like Netflix and Lionsgate establishing a presence. This has created jobs and boosted the economy. Casinos and gaming, including sports betting, remain vital to New Jersey’s economy as well. All these sectors are interconnected, and their success strengthens the state’s overall economic landscape.

How do you see the role of the workforce pipeline evolving in New Jersey, especially given the significance of higher education across industries?

Higher education is critical. Today’s students are tomorrow’s workforce, and they need to be prepared for rapid technological change. That includes soft skills like communication and sales, as well as technical skills. Our colleges are becoming more adaptable, maintaining open dialogue with businesses so they can quickly respond to evolving needs. As an association, we play a key role in fostering that collaboration. 

Are you seeing more collaboration between the private sector and higher education?

Absolutely. In fact, I’d say it’s essential. Without a skilled and productive workforce, businesses can’t thrive. The No. 1 resource for any company is its people. Business owners need employees with the right skills and the right mindset. As one of our members once said, “Attitude is just as important as aptitude.” If a graduate enters the workforce with a positive attitude, they’ll get trained, gain experience, and build the networks they need to succeed.

How do you see opportunities for innovation outside of the traditional four-year college education?

The trend of students moving away from traditional college has grown over the past few years, and that’s okay. College isn’t for everyone. Vocational trades such as plumbing, HVAC, electrical, and construction are essential and well-paying jobs. Operating forklifts and managing warehouses are all in-demand skills. Many of our member companies are more than willing to hire and train individuals with the right mindset, even if they don’t have a college degree. It’s all part of what I call “continuing education.” Learning doesn’t stop when you graduate; it continues throughout your career, and companies are recognizing that.

The pace of change is intense, driven largely by technology. Since COVID, there has been a greater emphasis on work-life balance, mental health, and employee well-being. We have embraced that in our programming. Our people are our greatest resource, and we need to support them in every way possible.

What are your top priorities over the next three to five years?

One major change coming is the election of a new governor, which will significantly influence state policy. From our standpoint, we’ll continue to focus on providing value to our members, especially in navigating the political landscape and promoting collaboration with the government. Workforce development remains a top priority, particularly through our partnerships with higher education. Healthcare access and affordability, the continued integration of AI, and energy sustainability will also be key focus areas. Looking ahead to 2026, we’ll see more interest in self-sustaining energy solutions, such as biofuels, wave technology, and even small modular nuclear reactors, like those used on ships. Businesses may begin developing their own energy sources to reduce dependency on the grid. These are the kinds of forward-thinking initiatives we’ll be watching closely.