Bergen native to head New Jersey economic development

A Bergen County native who has worked as an economic-development official in New York City and Connecticut was approved to lead New Jersey's efforts to attract and retain businesses.

The board of the New Jersey Economic Development Authority approved Gov. Phil Murphy's pick of Tim Sullivan as executive director, a position that has been vacant since December. Sullivan is scheduled to start Feb. 20 at a salary of $225,000 a year.

Sullivan, the No. 2 official at the Connecticut Department of Economic and Community Development, formerly was an economic development officer in the administration of former New York Mayor Michael Bloomberg.

Murphy, who campaigned on the pledge of a "stronger and fairer" state economy, has vowed to limit the practice of the state giving out large tax breaks to lure corporations or persuade them to stay. In Gov. Chris Christie's two terms, the Economic Development Authority approved $8 billion in tax incentives, according to calculations by the liberal New Jersey Policy Perspective.

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“Economic development is not a one-note symphony of lavish tax breaks, but a multi-faceted effort to leverage everything we have to offer," Murphy said in a statement announcing Sullivan's appointment. "From lifting up small businesses to growing the number of technology incubators where tomorrow’s innovators are being born, we need a new culture at EDA. I am asking Tim use his wealth of experience to help grow and strengthen our economy and make New Jersey an even better place for businesses to call home.”

A former investment banker, Sullivan has worked in city and state government since 2010. He is a graduate of Georgetown University and Bergen Catholic High School.

In a statement, Sullivan said he would strengthen the agency's focus on "small, innovative businesses and thriving communities."

His appointment was opposed by one Economic Development Agency board member, Fred Dumont, who is vice president of the New Jersey State Building and Construction Trades Council.