Use of public transit systems has increased 30% over the past 20 years and users expect safe, reliable, comfortable and affordable service. Mass transit users in the NJ/NYC metro area can attest to the inconsistency and rising costs of our region’s current transit system and many are aware of how these issues will increase as our region’s economy continues to grow. Consistency, safety, affordability and sustainability will be key factors that could impact future growth of our region.
Ahead of our annual Transportation Symposium, where transportation sustainability will be the key topic, we encourage you to read this brief Q&A with Dewberry’s Vice President and Director of Rail and Transit, Steven Santoro. Mr. Santoro highlights the challenges common among many of our nation’s transit systems and notes areas that transit agencies should focus on as they prepare for the future.
A major collective impact initiative by many institutions in Newark, Hire.Buy.Live.Newark was created to dramatically reduce poverty and unemployment and strengthen the city's economy by 2020. Organizations and individuals across the public, private, and nonprofit sectors in Newark participating in the initiative committed to employing more Newarkers and increasing procurement of goods and services from Newark-based businesses.
Rutgers University Newark and Rutgers Biomedical and Health Services joined this effort in 2017. Read more about their collective efforts and learn about examples of their work towards this goal.
"NRBP opposes pending state legislation (S2892/A4392) that would increase aviation fuel taxes at Newark Liberty International Airport (EWR) and divert proceeds to non-airport projects in a way that is inconsistent with federal law. The U.S. Chamber of Commerce has taken note of the proposal in this blog post." – Chip Hallock. President & CEO, NRBP.
The New Jersey legislature is currently considering a bill that would increase the state’s jet fuel tax to pay for an extension of the PATH railway from Newark Penn Station to the Newark Liberty International Airport Rail Link Station and beyond.
Walter Pierce was a 6th grader at STEM Academy in East Orange when he participated in the first year of the Newark Young Entrepreneurs Academy in 2016. His company, Generational Comfort X, produced handmade neck pillows and his business plan earned him the honor of representing our program at the 2016 Saunders Scholars Competition in Rochester, NY.
Now a freshman at STEM Academy, Walter is interested in reuniting with our program and its mentors to explore a new business idea. We look forward to working with him this year and helping him to launch his new business. Below, Walter shares his experience in our program.
For more information about the Newark Young Entrepreneur's Academy please contact Program Manager Emily Manz.
“Gig Economy Impact by Generation”, a new study from Prudential’s “Gig Workers in America” series, explores current gig economy employment patterns and how they affect the financial stability of different generations. Prudential notes that while Baby Boomers, Gen-Xers, and Millennials are all actively participating in the gig economy (defined as those who work as freelance designers, ride share drives and more) their reasons for joining it are different. Millennials, for example, join the gig economy proactively, while Gen-Xers and Boomers tend to do so as a result of drastic circumstance. The study also notes that while Gen-Xers were least satisfied with the work and longed to return to “traditional employment”, Millennials see gig work as a step toward “realizing their long-term aspirations."
Click here to read more.
EisnerAmper’s Richard J. Shapiro, Tax Director and Member of the firm’s Financial Services Group details new IRS compliance campaigns that expand its issue based audit approach. In a nutshell, regulations are tightening due to the desire to represent information more accurately and ensure continued efficiency. Click here to read more.
Interested in selling your company? Mark Henry and Scott Derco, Partners in Citrin Cooperman’s Boston and Livingston offices, outline the questions and concerns that should be forefront in your mind while making this decision. Click here to read more.
Many employers offer Health Reimbursement Savings Accounts (HRA). These are a type of employer funded account that reimburses employees for certain medical expenses. What may not always be clear; however, are the appropriate IRS reporting measures to ensure compliance, especially for companies that use a “wrap plan” document. Click here to learn more from Spire Group PC.
"Stalled Progress on the Path to Value-Based Care" is the third annual study from Quest Diagnostics to gauge perceptions of physicians and health plan executives about the nation's journey to value-based healthcare, which focuses on care quality and patient outcomes rather than the quantity of services delivered.
The study analyzes results from a survey of 451 primary care physicians and health plan executives collected earlier this year. It also reveals changes in perceptions over the past two years. According to the study, there is more work to be done to align physicians and health plan executives. 62% of health plan executives said progress has been made over the past year, but only 41% of physicians agreed. The study also suggests physicians need better tools, data access and less complex quality measures to spur adoption.
Click here for more.
Ever wonder how large sporting events like the World Cup or the Olympics affect a country’s economy? Timothy Speiss, a leader in EisnerAmper’s Personal Wealth Advisors Group and its Wealth Planning LLC, dives head first into this topic using the 2018 World Cup, the 2016 Summer Olympics and the 2014 World Cup as examples. While there are clearly many economic benefits to hosting such events, there are often just as many drawbacks. Click here to read more.