Triple Play is a weekly NJBIZ feature that asks top executives in New Jersey to talk about three things related to their industry.
Richard Moralle is a professional engineer and division manager of T&M Associates’ New Jersey site development practice.
We asked Richard for 3 key factors driving site development and expansion projects:
Warehousing and distribution development: The state will see increased development and economic activity due to the expansion of the Panama Canal and raising of the Bayonne Bridge. Expanded commerce and port traffic will fuel demand for warehouse distribution centers on brownfield sites along transit and transportation corridors in North and Central Jersey.
Revising the rules: Impending changes to permitting regulations in flood hazard areas will present greater clarity, consolidate overlapping regulation and offer more general permitting in some instances. These changes will help streamline and expedite development — a benefit for New Jersey businesses looking to build.
Energy incentives: New Jersey’s Clean Energy program offers sizeable incentives through initiatives like NJ Smart Start Buildings, Direct Install, Pay for Performance, Local Government Energy Audit, Combined Heat and Power and Fuel Cells and a unique Energy Savings Improvement Program (ESIP). These programs help implement greener, more sustainable and resilient infrastructure improvements while reducing operating expenses.