The new fiscal year 2027 budget that Gov. Mikie Sherrill recently signed into law. It was the first budget of Sherrill’s administration and was met with mixed reactions, including some sharp criticisms from business groups.

 

The investment that Cooper University Health Care is putting forth to open a new campus in Gloucester Township. The outpatient facility will be the health system’s largest ambulatory campus.

 

The amount that New Jersey is awarding to three public colleges to help them advance their aviation training programs. The schools include Atlantic Cape Community College, Kean University and Warren County Community College.

 

Where New Jersey ranks in CNBC’s 2026 Top States for Business rankings, falling down one position from the year prior.

 

The amount in Small Business Administration-backed funding that small businesses can now qualify for thanks to a recent policy change which raises the maximum financing offering to its highest level ever.

 

The total in scholarships awarded to 32 recipients by the New Jersey Food Council’s Educational Development Scholarship Foundation.

 

Breakdown
The New Jersey Economic Development Authority (NJEDA) approves first award under Next New Jersey Manufacturing Program.

What Happened: The New Jersey Economic Development Authority (NJEDA) Board approved the first tax credit award under the Next New Jersey Manufacturing Program. The award recipient, Starman New Photonics, LLC (SNP), is a newly formed U.S.-based advanced manufacturing company building a domestic supply of high-speed optical transceivers essential for the AI industry. With a $150 million investment, Starman will be renovating a 100,000-square-foot facility in Warren and is expected to create 250 new jobs.

 

What It Means: “New Jersey’s manufacturing industry is critical to our economy, helping drive investment and create good-paying jobs,” said NJEDA Chief Executive Officer Evan Weiss. “Starman New Photonics is a perfect blend of a long-standing industry—manufacturing—and a new one—AI—both of which are producing impactful economic benefits for the state and its residents. I look forward to working with Governor Sherrill to ensure the industries have the tools needed to grow and succeed and its economic impact is felt in communities across the state.”

What’s Next: Far exceeding the program’s minimum investment and job creation requirements, SNP qualifies for a tax credit of $7.5 million issued annually over the first five years of a 10-year commitment to New Jersey, for a total of $37.5 million.

 

Valley National Bank announced the hiring of two commercial relationship managers. Michael Mikstas will serve as vice president, commercial banking relationship manager, middle market; and Matthew Rosenberg steps into the role of vice president, commercial banking relationship manager, commercial real estate.

Jill Gateman has been named the head of U.S. Commercial Banking for TD Bank.

 

Kenneth Chiarella, a shareholder in Capeheart Scatchard’s workers’ compensation department, has been selected as a fellow 2026-2027 Leadership Academy class of the National Filipino American Lawyers Association.

 

PS&S has announced the promotions of Daniel Caldwell and Michael Newton, PG, LSRP, to vice president roles, recognizing their leadership and contributions across the organization’s engineering, environmental, business development and landscape architecture practices.

Hyland Levin Shapiro LLP’s Beau C. Wilson has been elected to the partnership of the firm. Wilson is a member of the firm’s litigation and risk management practice group.

 

George E. Duffield Sr., CEO and co-owner of National Integrity Title Agency, has been appointed as a board member of the Burlington County Regional Chamber of Commerce.

Virtua Health has appointed Nicole Lamborne, MD, MBA, president of Virtua Voorhees Hospital and Virtua Marlton Hospital and a senior vice president for Virtua. The health provider has also named Eric Sztejman, MD, MMM, as its senior vice president of acute care services and Sam Weiner, MD, MMM, as its senior vice president of ambulatory services at Virtua Medical Group.

 

South Jersey Industries (SJI) announced that Michael J. Renna will retire as president and chief executive officer, effective August 3. He will be succeeded by Donald “Blue” Jenkins who brings 30 years of experience as a senior leader of companies across the energy value chain, from regulated utilities to midstream operations.