Laurence Downes of NJ Resources Named Chairman of NJ EDA Board

Laurence DownesLaurence Downes

TRENTON, NJ—(SBN)—Governor Philip D. Murphy named Laurence M. Downes as chairman of the Board of the New Jersey Economic Development Authority (EDA).  Downes joined the EDA Board in 2010 and has served as Vice Chair since 2016.

“I am honored that Governor Murphy has selected me to serve as chairman of the EDA and I look forward to helping advance his vision for a stronger and fairer economy,” Downes said.  “The EDA is staffed by a professional and dedicated group of individuals and I am pleased to have the opportunity to continue our efforts to create jobs and revitalize communities across the state.”

Downes is Chairman of the Board and Chief Executive Officer (CEO) of New Jersey Resources (NJR) and its principal subsidiary, New Jersey Natural Gas (NJNG). He joined NJR in March 1985 and has served as CEO since July 1995.  Mr. Downes is a Director and past Chairman of the American Gas Association and the Natural Gas Council, as well as a Trustee of the American Gas Foundation. He chairs the John J. Heldrich Center for Workforce Development’s National Advisory Board at Rutgers University and serves as a member of the Boards of the Drumthwacket Foundation and Choose New Jersey.

“I applaud the Governor’s decision to designate Larry Downes as the EDA Board’s new Chairman,” said Tim Sullivan, who will join the EDA as CEO on February 20.  “With a long and distinguished professional and public service career, including eight years on the EDA Board, Larry’s knowledge and insight will be indispensable as we work to grow New Jersey’s economy.”

The EDA is an independent State agency that finances small and mid-sized businesses, administers tax incentives to retain and grow jobs, revitalizes communities through redevelopment initiatives, and supports entrepreneurial development by providing access to training and mentoring programs.  The EDA is guided by a 16-member Board, which includes 10 public members, one non-voting member, and five ex-officio members.

About the Author

Steve Lubetkin
Steve Lubetkin is the news director for StateBroadcastNews.com. Steve’s journalism background includes print and broadcast reporting for NJ news organizations. Since 2015 he has been the New Jersey and Philadelphia editor for GlobeSt.com. His video work for GlobeSt.com has been honored by the Garden State Journalists Association, and he has also been recognized for video by the New Jersey Chapter of the Society of Professional Journalists. He has produced audio podcasts on CRE topics for the NAR Commercial Division and the CCIM Institute. Steve has also served (from August 2017 to March 2018) as national broadcast news correspondent for CEOReport.com, a news website focused on practical advice for senior executives in small- and medium-sized companies. Steve also reports on-camera and covers conferences for NJSpotlight.com, a public policy news coverage website focused on New Jersey government and industry; and for clients of StateBroadcastNews.com, a division of The Lubetkin Media Companies LLC. Steve has been the computer columnist for the Jewish Community Voice of Southern New Jersey, since 1996. Steve is co-author, with Toronto-based podcasting pioneer Donna Papacosta, of the book, The Business of Podcasting: How to Take Your Podcasting Passion from the Personal to the Professional. You can email Steve at steve@statebroadcastnews.com.