Originally published on BINJE
Mikie Sherrill on New Jersey’s Tech Future: A Call to Action for Innovation
By: Aaron Price, CEO, TechUnited:NJ
As the race for the next NJ Governor heats up, New Jersey’s innovation economy faces unprecedented stakes – AI is reshaping industries with incredible speed, talent is more mobile than ever, and early-stage investment is up for grabs. Just this week, Coreweave, a New Jersey-founded AI leader, announced a $6B investment in Pennsylvania, highlighting our state’s challenges incentivizing our own.
As CEO of TechUnited:NJ, I sat down with Congresswoman Mikie Sherrill, Democratic nominee for NJ Governor, to discuss technology, policy, and keeping New Jersey competitive.
1. Social Media and Youth: A Public Health Crisis Demanding Collaboration
Sherrill, a parent of four, shared a relatable struggle: “I can tell when my daughter has cracked her phone code… she’s watching a thousand hours of TikTok.” Sherrill proposes a New Jersey “Center of Excellence” to study algorithms’ effects on youth mental health, emphasizing, “We need more transparency in the algorithms.” A 2023 Pew Research study found 41% of U.S. teens report negative mental health impacts from excessive social media use, with girls facing higher risks.
The Center must prioritize collaboration over regulation, partnering with TechUnited:NJ members like Meta and Amazon, local startups and educational institutions, to inform families and support private-sector solutions. Instead of government-driven tools, we should empower startups to develop innovations like AI-driven parental controls or digital wellness apps. If pursued, TechUnited:NJ will launch a 2026 task force to shape this Center, building on policies like no cell phones in classrooms, which boosted student engagement by 20% in a 2024 New Jersey pilot program (NJ Department of Education)
2. Education for an AI-Driven Economy: Retaining Our Talent
Mikie Sherrill highlighted AI’s rapid pace: “Tech executives thought AI milestones would take two or three years… we were there six months later.” New Jersey’s 9.3 STEM graduates per 1,000 residents (U.S. Census, 2023) give us an edge, yet 15% of our tech graduates relocated to states like California in 2024 (LinkedIn workforce data).
To keep talent, we propose a “Garden State Tech Founding Fund,” a $50M public-private initiative offering mentorship and seed funding to STEM graduates launching startups tied to New Jersey-based employment. Sherrill’s call for nimble education systems aligns with this – Rutgers, Princeton, Rowan, NJIT, and Stevens have introduced AI curricula, and we must incentivize further expansion through industry partnerships and incentives that align with a modern hybrid workforce. Our members share that past state funding efforts have been “riddled with red tape.” Swift, streamlined administration is critical. TechUnited:NJ’s summits including Propelify, OverdriveAI, and Catalyst Awards will continue to convene educators, investors, and founders to ensure our 25,000 annual STEM graduates (NJ Department of Education, 2024) stay and build here.
3. Energy Costs: Mikie Sherrill’s POV on Powering Tech Competitiveness
Sherrill emphasized energy’s role: “Tech companies need cheap energy… they’re going to go where cheap energy is.” New Jersey’s commercial electricity rates, at 13.5 cents/kWh in 2025 (EIA data), are 20% higher than Pennsylvania’s. While we don’t know the exact reasons behind Coreweave’s $6B investment in Pennsylvania, it’s hard to ignore high energy costs as a major factor, especially given their New Jersey roots.
Sherrill’s focus on community solar and nuclear energy is strategic but long-term. Short-term, we need tax credits for tech firms adopting renewables, targeting a 10% cost reduction by 2027 to support AI and data center growth. Our fall OverdriveAI Summit features energy as a key track, convening industry and tech leaders to forge a roadmap and strengthen New Jersey’s competitiveness.
4. Permitting and Incentives: Slashing Red Tape is important to Mikie Sherrill
Mikie Sherrill’s story of a 12-year permit delay for a Starbucks drive-thru resonates: “It cost millions of dollars.” A 2024 TechUnited:NJ survey of 500 NJ tech firms found 68% cite permitting delays as a growth barrier. Pennsylvania’s 90% reduction in small business permitting times (PA DCED, 2024) sets a benchmark.
Sherrill’s idea to use AI for government processes could cut approvals to 30 days, but costs and privacy concerns need addressing. A pilot AI-driven permitting portal with private-sector involvement could build trust. On incentives, Sherrill’s openness to extending Qualified Small Business Stock (QSBS) benefits to pre-2026 investments is critical – current policy risks $500M in capital flight. TechUnited:NJ demands retroactive QSBS legislation to reward those who have been committed to NJ all along and prevent them from leaving, as so many have already.
5. Federal Leverage: Amplifying New Jersey’s Voice
Sherrill’s congressional experience shines: “Florida has a ‘Florida House’ near Capitol Hill… New Jersey’s underutilizing our delegation.” In 2023, New Jersey secured $1.2B in federal R&D funding, trailing California’s $5.8B (NSF data). A hybrid “Garden State Innovation Hub,” staffed by commercially minded tech and policy experts, could close this gap without bureaucratic bloat.
TechUnited:NJ proposes a 2026 pilot for this hub, partnering with Sherrill’s team with a goal to secure $500M more in annual federal tech funding. Her federal savvy positions her to champion this, and our Community is ready to collaborate to make New Jersey a magnet for innovation investment.
Final Thoughts
Mikie Sherrill’s vision is compelling: “We have more scientists and engineers per square mile than anywhere else. Let’s figure this out.” Tech’s growth is stifled by high housing costs and lack of early-stage investment and modern tax treatment – 30% of NJ tech workers cite affordability as a reason for leaving (Rutgers, 2024), and QSBS – while a major recent win – needs updating to prevent current entrepreneur and investor flight.
TechUnited:NJ will continue convening thought leaders at our industry-leading events – OverdriveAI Summit, Propelify, and Catalyst Awards – to drive solutions. We’ve also engaged Jack Ciattarelli, the Republican nominee, to ensure our community hears all perspectives.
We hope the next governor, Democrat or Republican, will be a strong partner in this conversation, turning New Jersey into a nimble global tech hub. Join us to shape this future.