AGP Executive Report

Higher Education Costs: New federal student loan changes that took effect July 1 add strict borrowing limits and lifetime caps for graduate students and parents, and end the SAVE income-driven repayment program—raising default fears for New Jersey’s 1.2 million federal borrowers. Consumer Data & Groceries: Gov. Sherrill faces a major affordability test as New Jersey’s “surveillance pricing” bill heads to her desk, with critics warning it could unintentionally restrict digital coupons and personalized grocery discounts. Heat & Worker Safety: A dangerous eastern U.S. heat wave is straining the grid and increasing risk for millions; a study says the conditions would be “virtually impossible” without fossil-fuel pollution, while workers in warehouses and delivery routes face heightened danger. Real Estate Development: Daewoo E&C is investing about $291M in a Bergen County Palisades Park project—an 18-story, 540-unit apartment complex—with construction targeted to start in 2028. Tech & Manufacturing Shift: Sony will stop producing physical PlayStation game discs for new releases starting January 2028, retraining its remaining disc plant workforce for optical microlenses.

Extreme Heat & Grid Strain: A brutal heat wave pushed New Jersey and the region into record territory, with PJM monitoring peak demand as air conditioners drive heavy load and officials warn of outages. PFAS Accountability: Chemours reached a multi-state settlement with federal and state regulators over alleged “forever chemicals” releases from facilities in New Jersey and elsewhere, marking a major enforcement milestone. Legal Watch: The New Jersey Supreme Court is set to weigh issues tied to evidence and indemnity provisions, while another NJ high-court ruling limits a watchdog group’s ability to invalidate a DWI surcharge. State Budget: New Jersey enacted its FY 2027 budget, keeping major spending levels, reducing the structural deficit, and continuing K–12 investment alongside affordability measures. Energy/Tech Policy: New Jersey passed a law banning surveillance pricing in grocery stores and pausing electronic shelf labels, aiming to curb algorithm-driven price discrimination. Business & Real Estate: One Canal Place’s new owners filed for Chapter 11 just months after a $28M purchase, adding uncertainty to a heavily occupied downtown office tower. Workforce/Industry: ASE acquired WrenchWay to expand automotive workforce and career pathway connections, building on ASE Connects. Food Safety: Cyclosporiasis cases are rising, with experts warning many infections are missed because standard stool tests don’t always catch the parasite.

Extreme Heat & Power Reliability: A heat wave is pushing New Jersey into dangerous “feels like” territory, while the DOE declared an energy emergency for the PJM grid and warned of possible curtailments, including for data centers, as peak demand could top prior records. World Cup Spillover for NJ Businesses: Local restaurant owners around MetLife reported mixed results from World Cup match crowds—some saw steady business, others said traffic didn’t match expectations. Major NJ Infrastructure Win: A federal judge permanently barred the government from withholding Hudson Tunnel Project grant funding, ending uncertainty over the $16B rail project after a funding suspension tied to policy review. South Jersey Budget Winners/Losers: Gov. Mikie Sherrill signed a $60.7B budget; South Jersey coverage highlights winners like Rowan University and Camden demolition funding, while high-income seniors lose eligibility for Stay NJ. Gaming & Hospitality Moves: Delaware North rebranded its NJ online gaming launch under Ember Entertainment, and Corinthia appointed Peter Roth to lead hotel operations. Manufacturing/Pharma Compliance: Lupin received an FDA EIR for its Somerset facility with a VAI classification, following observations. Real Estate/REIT Update: UMH Properties posted its Q2 2026 operations update, including higher rental and home sales income and strong occupancy. Local Dining Opening: Haven House restaurant opened at Bay 151 in Bayonne with World Cup broadcasts on a large LED screen.

Energy & Consumer Relief: New Jersey lawmakers passed the Garden State Plug-In Solar Act, expanding access to balcony/patio plug-in solar for renters and apartment dwellers to help cut utility bills. Extreme Heat Preparedness: Gov. Sherrill urged residents to take precautions as a dangerous, multi-day heat wave hits during the Fourth of July travel stretch, with cooling-center and power-conservation guidance. Food Labeling & Waste: California’s “sell by” ban is rolling out to reduce confusion and food waste, replacing it with standardized “Best if Used By” and “Use By” labels—an issue NJ consumers watch closely as energy and grocery costs stay high. Transportation Tech Deal: Quarterhill will buy Conduent’s tolling solutions assets in a $70M deal, aiming to expand intelligent transportation services with contracts including New Jersey. Local Business Growth: Iron Bull Roofing opened a new Woodstown HQ to speed roof replacement service across South Jersey. Finance & Housing: Columbia Financial reported approvals for its conversion and Northfield acquisition, while UMH Properties declared quarterly dividends. Legal/Privacy: TD Bank faces a Meta tracking-related class action after a NJ federal judge said the suit plausibly alleges harm.

NJ Budget: Gov. Mikie Sherrill signed the state’s $60.7B FY2027 budget after lawmakers approved it by the June 30 deadline, pitching it as affordability-focused and including housing and down-payment assistance programs. Transit & Cost Pressures: NJ Transit’s 3% fare increase took effect July 1 as riders vented about delays, with World Cup service not expected to be affected. Life Sciences Jobs: Merck topped a new NJBIZ ranking of life sciences employers by in-state headcount, with NJIT and BD also among the largest. Securities Litigation (NJ Courts): Embecta and ADMA Biologics are facing new class action filings in the District of New Jersey tied to insulin pen and channel-stuffing allegations, with investor deadlines in August. Food Industry Rules: California moved to ban “sell by” labels, replacing them with standardized “Best if Used By” and “Use By” wording—aimed at cutting consumer confusion and waste. Energy Policy: The Trump administration announced deals ending several offshore wind leases, redirecting investment toward gas and geothermal projects. Immigration Impact: Haitians with TPS face fear and uncertainty after the Supreme Court ruling that could end protections.

Gateway Tunnel Fight: A federal judge ordered the Trump administration to permanently stop trying to freeze Hudson River tunnel funding for the $16B Gateway rail project, calling the move “flagrantly” illegal and warning of harm to thousands of workers and commuters. Homelessness Funding: Wisconsin AG and a coalition of states won a court ruling blocking unlawful HUD conditions that would have restricted billions in Continuum of Care funding used by local groups to serve people at risk of homelessness. NJ Courts & Privacy: A New Jersey federal judge ruled Atlas Data Privacy’s thousands of takedown notices weren’t “spam,” dismissing counterclaims tied to the state’s judicial privacy law. Food Safety: Clover Hill Dairy recalled cheese tied to a Listeria outbreak; one death was reported and multiple illnesses/hospitalizations are under investigation, with NJ consumers urged to check products. Retail Expansion: Whole Foods is set to open a 40,000-square-foot store in Eatontown on July 29, anchoring the Monmouth Square development. Local Policy: The NJ Assembly passed a bill requiring disclosure of third-party litigation funding arrangements. Health Policy: 25 Democratic-led states sued over Trump Medicaid work requirements, challenging a narrow “medically frail” exemption. Sports Business: A House panel heard bipartisan scrutiny of private equity’s role in youth sports, focusing on access and rising costs. Transportation Tech: GreenArrow acquired Atlantic Transportation Systems to expand traffic-signal and roadway safety services across the Mid-Atlantic.

NJ Transit & State Budget: NJ lawmakers advanced a bill to tax prediction market operators, setting up a new 9% levy framework as Trenton pushes its 2027 fiscal plan. Transit Costs: NJ Transit fares rise 3% systemwide July 1, continuing annual increases that riders say worsen delays and service frustrations. Courts & Health Policy: A Supreme Court ruling upheld states’ ability to accept late-arriving mail ballots, while Democratic-led states sued over Medicaid work requirements tied to a “medically frail” exemption. Public Safety: New Jersey’s AG is investigating a police-involved shooting in Linden that sent both an officer and a suspect to the hospital. Insurance & Consumer Protection: Insurers are seeking NJ mass tort action over No Surprises Act disputes, as a new report highlights provider-driven abuses of the law’s arbitration process. Energy & Grid: Delaware moved to shift electric grid interconnection rule-setting to a private council, a reminder of how quickly energy policy can reshape costs and reliability. Weather: Extreme heat warnings expand across the Northeast and Mid-Atlantic, with record highs forecast through the July 4 weekend.

PFAS Accountability: Chemours reached a preliminary $450M settlement with the EPA and West Virginia over PFAs released into the Ohio, Cape Fear, and Delaware rivers, with New Jersey named among affected sites. State Budget & Policy: New Jersey advanced a $60.7B budget toward final legislative action, while lawmakers also pushed a “Make Polluters Pay” measure facing business and GOP pushback. Elections & Courts: The U.S. Supreme Court upheld states’ ability to count mail ballots received after Election Day if postmarked on time, preserving New Jersey’s grace-period approach. Real Estate & Tech: Bright MLS will feed listings into Google search via HouseCanary, and OceanFirst completed a $1.3B sale of NYC-area multifamily loans to cut rent-regulation exposure. Gaming Regulation: NJ lawmakers advanced a ban on election betting through prediction markets like Polymarket, setting licensing and tax rules for operators. Local Business/Construction: Lehigh Township moved forward on a standalone data center ordinance draft, with limits on towers and questions raised on water and noise. NHL Offseason: ESPN’s NHL draft/free agency guide looks ahead to July free agency after the 2026 draft wrapped.

Aviation & Environment: Teterboro Airport’s long-stalled expansion is back under federal and state review, with Signature Flight Support seeking to pave 11 acres of wetlands for new hangars and parking—an upgrade aimed at handling larger jets and peak NYC demand. Real Estate & Tourism: Ocean City’s shuttered Gillian’s Wonderland Pier is moving toward redevelopment after a council vote cleared the way for a formal plan to replace it with a 252-room luxury hotel. Local Business Watch: North Jersey’s newest openings include A Plus Rehab in Morristown and Mason’s Famous Lobster Rolls in Ridgewood, part of a broader roundup of fresh restaurants and services. Consumer Protection & Health: A Clover Hill Dairy cheese recall expanded after illnesses and a death tied to possible listeria contamination, with distribution reaching New Jersey among other states. Tech & Finance: Securities-fraud class actions were filed in New Jersey federal court against ADMA Biologics and Embecta, alleging misleading statements tied to major stock drops. AI & Media: A coalition of nearly 400 local newspaper owners sued OpenAI and Microsoft over claims that AI training copied reporting without permission. Policy & Industry: New Jersey lawmakers advanced a late-released $60.74B budget plus a supplemental package, setting up final votes with limited public review time.

Data Centers & Energy Policy: New Jersey moves to slash AI data center tax breaks and reroute money to power relief, as the state weighs the grid strain and local pollution impacts of backup generation. PFAS Accountability: Chemours agreed to a $450M settlement tied to “forever chemicals” releases, keeping pressure on NJ and regional water-safety efforts. Local Manufacturing Reshuffle: International Paper plans to wind down Barrington, NJ converting operations (plus closures elsewhere) by the end of Q3 2026, raising near-term questions for workers and suppliers. Antitrust Leadership Gap: The DOJ Antitrust Division is again without a permanent chief as Google and Apple cases hang in the balance, potentially affecting how major tech remedies move forward. Public Health & Food Safety: USDA issued multiple food safety actions in one day, including Listeria-related and allergen/mislabeling alerts that consumers in NJ should watch for. Community Preparedness: A Haitian community action guide lays out resources and next steps after the TPS ruling, with NJ/NY support points listed. Heat & Safety: A heat advisory warns NJ to brace for near-100-degree conditions through the holiday stretch.

PFAS Fallout in NJ: Chemours agreed to a $450M settlement tied to “forever chemicals” released into rivers affecting New Jersey, North Carolina, and West Virginia, with a civil penalty plus long-term discharge cuts and drinking-water spending. State Budget & Data Centers: New Jersey lawmakers are nearing the budget deadline as Gov. Mikie Sherrill and leaders strike a deal; the state is also pausing a program that offered tax breaks for AI data centers amid public pushback. Jersey City Violence: A fatal shooting left one person dead and another critically injured in Jersey City; investigators say the suspect fled in a silver vehicle toward the New Jersey Turnpike Extension. World Cup Spillover Question: Some businesses near MetLife Stadium say the FIFA World Cup hasn’t boosted sales as many fans use direct train/shuttle routes that limit stops in surrounding NJ communities. NHL Draft (NJ Angle): The 2026 NHL draft wrapped with major team grading coverage, including San Jose’s top-value first round.

Food Safety: Reser’s Fine Foods recalled 5-pound tubs of “Molly’s Kitchen California Style Pasta Salad” in NJ and six other states after a mislabeling error may mean some containers are actually chicken salad with undeclared egg and milk allergens; USDA says no reactions reported so far, and shoppers should not eat affected lots. Sports & Local Economy: The New York New Jersey World Cup spotlight stays on MetLife/New York New Jersey Stadium as England plays Panama amid fan-cost backlash and transit pricing disputes, with NYC reporting smoother match-day flow while NJ Transit warns it could lose millions from lower-than-expected demand. Public Health & Infrastructure: RWJBarnabas Health and Rutgers Cancer Institute opened the Melchiorre Cancer Center at Cooperman Barnabas Medical Center in Livingston, adding 52 exam rooms and infusion space designed to “wrap a warm blanket” around patients. Community & Culture: Nutley Little Theatre stages “The Worst Fairy Tale Ever” July 25-26, and Classic American Tales marks the Revolution’s 250th with “Margaret’s Diary During a Revolution” in Cape May. Draft Watch: The New Jersey Devils added Quinn McKenzie (Penn State) and Lavr Gashilov in the 2026 NHL Entry Draft.

N.J. Transit & Amtrak: The agencies announced initial construction for the $133M “Sawtooth Bridges Replacement Project,” aimed at replacing nearly 120-year-old Northeast Corridor infrastructure and improving reliability for 200,000+ daily riders. NHL Draft (N.J. angle): The 2026 offseason trading period is underway, with the New Jersey Devils dealing Simon Nemec to Calgary for future first-round picks, while other teams reshuffled top prospects. World Cup at MetLife: Panama vs. England is set for Sunday at MetLife Stadium in East Rutherford, with England needing results to lock up group position. Hospitality in Parsippany: Sheraton Parsippany is rebranded as Dolce by Wyndham, signaling continued investment in northern New Jersey’s hotel market. PFAS fallout: Chemours is tied to a major $450M settlement over “forever chemicals,” underscoring ongoing pressure on industrial polluters. Food & retail: Del Monte’s bankruptcy dispute in N.J. court highlights ongoing fights over how DIP financing affects lender sharing. Local business/real estate: New Jersey’s data-center debate keeps heating up as candidates and landowners clash over property rights and power impacts.

Healthcare Finance: NJ hospital leaders warn Medicaid changes could cut an estimated $3.6B through 2032, pushing systems to shrink low-use programs and deal with more uninsured patients hitting emergency rooms. Local Business & Policy: Collingswood is weighing whether to lift its century-old “dry town” alcohol ban, with a referendum likely if commissioners move forward—aimed at boosting restaurant revenue while weighing the brand’s value. Food Safety: Reser’s Fine Foods recalled thousands of pounds of ready-to-eat pasta salad that may actually contain chicken salad, with undeclared egg and milk allergens; consumers in affected states are urged to check labels. Legal Watch: A NJ appellate panel vacated nearly $1M in damages for a boating injury, saying the trial court should have allowed more discovery to respond to medical proof raised late. Public Safety/Travel: TSA expects about 18.7M travelers during the July 4 week, with July 2 projected as the busiest day. Environment & Industry: Chemours’ proposed $450M PFAS settlement is drawing scrutiny from river advocates over how much direct relief communities will see, including in NJ and beyond. Sports & Local Economy: World Cup play continues with France set to face NJ next Tuesday after a dominant win over Norway.

Securities Litigation (NJ Federal Court): Two new investor class actions were filed in the U.S. District Court for the District of New Jersey—one against ADMA Biologics after a reported 29% stock drop tied to alleged channel-stuffing, and another against Embecta after a reported 57% plunge tied to claims about the strength of its insulin pen needle category. PFAS Enforcement (Chemours): The EPA and DOJ announced a landmark $450 million PFAS settlement with Chemours, alleging illegal discharges into the Delaware River (NJ) and other waterways, with major spending for alternative drinking water and compliance upgrades. Water & Infrastructure (Central NJ): New Jersey American Water is starting a $1.1 million main replacement in Middlesex to improve reliability and fire protection, including checks for lead and galvanized service lines. Public Safety (Paterson): Paterson will add off-duty foot patrols in business clusters starting July 1, funded by a $1.8 million Urban Enterprise Zone grant. World Cup at MetLife (NJ Economy/Operations): The tournament set a new attendance record at MetLife Stadium as Ecuador beat Germany 2-1, underscoring NJ’s role in major sports logistics and visitor demand.

Aviation & Local Economy: AOPA says pilots and NJ aviation businesses are pushing back against Aeroflex/Andover Airport’s hangar eviction plan tied to “significant construction activities,” warning the flight school and maintenance shop could be forced to close if hangars are reduced to Forest Fire Service use. Public Oversight: New Jersey’s top court ordered fuller disclosure in a Jersey City facial recognition case, requiring prosecutors to explain how the tool was used to arrest a suspect. Water & Infrastructure Finance: Lower Township MUA secured a $4.1M New Jersey Water Bank loan to rehabilitate three major sewage pump stations, replacing ~50-year-old equipment to prevent failures and protect water quality. Permitting Reform: NJDEP’s Operation FAST says it cut the freshwater wetlands LOI backlog by 42%, aiming to speed determinations and reduce development delays. Housing Supply: Gov. Mikie Sherrill announced NJ HOMES technical-assistance applications are open through July 1 and NJHMFA raised nearly $35M via an Affordable Housing Tax Credit auction. Food & Retail: Sweetspot Cannabis opened in Hamilton with a ribbon-cutting and a weekend promo push. Consumer Safety: A major cheese recall expanded after a listeria outbreak, and an FDA update raised the risk level for recalled potato chips tied to potential Salmonella.