NJBIA has published its 67th annual Business Outlook Survey, providing insights into New Jersey’s economic climate as businesses look ahead to 2026. The survey found that 34% of respondents reported a slowdown in their industry, the same percentage as last year. Meanwhile, 14% said they were experiencing expansion.
Some businesses indicated shifts in their industry conditions: 8% noted a move from slowdown to recovery, while 5% reported transitioning from expansion to slowdown. The largest group, at 40%, said business conditions remained unchanged.
Regarding plans for growth, most respondents—59%—said they did not plan to expand. Of those considering expansion, 26% intended to do so in another state and only 12% planned to expand within New Jersey. An additional 3% said they would expand both in New Jersey and elsewhere.
The survey also addressed perceptions of New Jersey as a site for new or expanded facilities. Only 22% rated the state as very good or good for such purposes, down six percentage points from the previous year. Another 36% described it as fair, while 43% considered it poor.
Regulatory issues were cited by some businesses; specifically, 17% reported postponing equipment installation or expansion due to delays with permitting or regulatory processes—a five-percentage point increase compared to last year.
The survey also touched on retirement plans among business owners and executives. There is a gradual improvement in New Jersey’s appeal as a retirement location: now, 47% of respondents plan to remain in the state during retirement, up by fifteen percentage points over the past six years.
