Podcast 190: New Jersey’s Bold Playbook with Kathleen Coviello

"The surprising way New Jersey is doing economic development"

15 Sep 2025 — 1 min read

Kathleen discusses the state’s targeted approach to building industries where it has a competitive edge: from film and digital media to life sciences, clean energy, and AI. She shares insights into innovative initiatives like film-ready certified towns, programs that turn company losses into cash, and the ambitious Evergreen Fund designed to attract venture capital and corporate engagement.

Along the way, Kathleen highlights both the opportunities and challenges facing New Jersey, including housing affordability and talent retention, while also offering a candid look at her own journey from venture banking to two decades in public service.

Like this show? Please leave us a review here — even one sentence helps!

Ten Actionable Takeaways for Economic Developers

Diversify industries. Avoid dependence on a single sector by identifying unique local advantages.
Leverage tax credits creatively to attract industries and anchor them in-state.
Support ecosystems by including small vendors, service providers, and municipalities in development plans.
Certify communities (like NJ's "Film Ready" program) to streamline collaboration with industry.
Repurpose existing assets. Old campuses or facilities can become innovation hubs.
Monetize losses. Programs that allow startups to trade losses for cash can extend runway without equity dilution.
Pair funding with mentorship to help first-time entrepreneurs succeed.
Create venture capital attraction mechanisms like NJ's Evergreen Fund to keep investment local.
Engage the private sector as partners rather than relying solely on government dollars.
Listen to the market. Use feedback loops, listening sessions, and pilot programs to refine initiatives.