AGP Executive Report

Corporate Relocation: Burlington Stores will move its headquarters from Burlington Township to Philadelphia, investing about $370M and targeting 2,000 jobs over five years, a fresh sign of the NJ-to-PA corporate drift. Prediction Markets & Sports Betting: New Jersey is pushing the U.S. Supreme Court to settle its dispute over prediction-market sports bets, as Michigan courts tighten restrictions on Kalshi with steep daily penalties. Antitrust/Consumer Costs: A multistate coalition including New Jersey’s attorney general sued Amazon over an alleged ad-pricing scheme that prosecutors say overcharged sellers by $20B since 2019. Public Finance & Credit: KBRA upgraded New Jersey’s rating to AA-minus, citing improved pension funding and budget management ahead of a major Transportation Trust Fund deal. Health Costs for Workers: NJ panels approved a 17.3% average premium hike for local government worker health plans, while a separate teachers’ plan vote deadlocked. Energy/Environment: Gov. Mikie Sherrill signed a law legalizing plug-in balcony solar up to 1,200W, limiting local and landlord roadblocks. Business & Real Estate: Hoboken zoning cleared a six-story, nine-unit luxury project at 701/709 First St. Food Safety: FDA recalled Crystal Temptations “Chocolatey Eyeballs” sold in 13 states, including NJ, due to undeclared milk allergens. Local Economy/Jobs: Campbell’s announced a 13% salaried workforce reduction as it cuts costs.

Prediction Markets Clash: New Jersey has petitioned the U.S. Supreme Court to settle who can regulate sports prediction markets, escalating a patchwork of conflicting rulings involving Kalshi and Polymarket. Regulatory Pressure: Michigan’s AG secured a preliminary injunction against Kalshi, forcing geofenced blocks on sports contracts and raising the stakes for how states treat “financial instruments” versus wagering. Energy & Fuel Costs: A lawsuit alleges Freedom Fuel sold nearly $4 million of stolen gas, while a separate report questions whether the White House’s oil shipment stats add up. Real Estate & Housing: American Healthcare REIT agreed to buy eight senior housing communities for about $696 million, expanding in supply-constrained East Coast markets. Local Development: Wayne Township and William Paterson University are at odds over a deed restriction tied to an affordable housing plan. Business Tech: Ocean Power Technologies is rolling out Palantir Foundry to scale autonomous maritime operations. Manufacturing & Workforce: NJMEP named keynote speakers for “MADE in NJ” Manufacturing Day, highlighting labor-market challenges for manufacturers.

Prediction Markets Fight: New Jersey Attorney General Jennifer Davenport asked the U.S. Supreme Court to settle a fast-growing dispute over whether states can regulate Kalshi and similar platforms, after lower-court rulings blocked NJ’s efforts—setting up a potential nationwide showdown over whether these “sports event contracts” are gambling or commodities. Data Center Pressure: A new report says data center tax breaks are helping Big Tech expand while shifting revenue away from states, as communities and lawmakers increasingly clash over noise, water use, and power demand. Local Enforcement: Passaic County moved against retailers accused of selling illegal tobacco and THC products to minors, including charges tied to West Milford smoke shops and gas stations. Real Estate Finance: Walker & Dunlop arranged $390 million in construction financing for Park Tower, a mixed-use multifamily project in Jersey City’s Journal Square. Defense & Manufacturing: Marotta Controls won Navy-linked contract work for next-generation electronic warfare hardware, underscoring continued defense supply-chain investment. Health & Policy: Senator Andy Kim visited Warren County to push on affordable healthcare and workforce development. Sports Media: Prime Video secured exclusive local streaming rights for six NHL teams starting 2026-27, including the New Jersey Devils via MSG Networks.

Securities & Litigation: Kaplan Fox filed new investor class actions tied to GoDaddy (GDDY) and Innventure (INV), with lead-plaintiff deadlines in October, as the firm continues to pursue alleged misstatements and accounting issues across public companies. Healthcare Markets: Johnson & Johnson shares jumped toward a record high after FDA approval for a rare-disease immunology drug, adding to momentum for the New Brunswick-based giant. NJ Infrastructure & Connectivity: GoNetspeed is bringing a fully funded $8 million fiber build to Carteret, targeting up to 6 Gbps symmetrical service for more than 6,300 homes and businesses. Public Safety & Privacy: Flock Safety says it’s cutting default license-plate-reader retention to seven days and adding new search controls, while NJ rules still require longer storage for most law-enforcement use. Local Economy & Growth: Carteret’s fiber expansion and Woworks’ rapid restaurant rollout (about 40 openings targeted this year) point to continued investment in NJ-area services and consumer spending. Business & Policy Watch: NJ Democrats urged the state AG to step back from the Paramount Skydance merger fight, arguing it could hurt the state economy.

State Policy & Energy Costs: Gov. Mikie Sherrill signed a law making qualifying plug-in balcony solar panels under 1,200 watts legal in New Jersey without utility approval, with potential bill savings of up to $50 a month. Food Safety: Hodo, Inc. recalled more than 10,000 cases of Lightly Fried Chili Crisp Tofu in 29 states after it said printing ink from packaging “may have migrated” into the product. Consumer Protection & Privacy: A New Jersey school district’s plan to enforce the state’s new cell phone ban using a third-party app has sparked parent pushback over privacy and geofencing concerns. Public Health: The FDA classified the Taylor Farms cyclospora-linked lettuce recall as a Class I event, the highest risk category, as case counts continue to rise. Business & Legal: A New Jersey Appellate Division ruling reinforced the limits of changing positions in court, a reminder for businesses relying on consistent claims in disputes. Local Housing: Voorhees is set to review plans for 120 affordable apartments at The Oaks at Centennial, following strong demand for a nearby Michaels project.

Big Tech Accountability: A coalition of 22 states and the FTC sued Amazon over alleged “hidden” ad surcharges, claiming the company secretly inflated prices paid by advertisers by tens of billions. Consumer Safety: Crystal Temptations recalled Halloween “Chocolatey Eyeballs” sold in 13 states, including New Jersey, after milk allergen whey wasn’t declared on labels. State Policy & Workforce: Maryland Gov. Wes Moore announced employer registration is live for paid family and medical leave, a move that could affect NJ-area employers competing for talent. Local Business & Growth: Foxquilt launched an errors & omissions insurance product in New Jersey and other states, expanding embedded coverage for small businesses. Energy & Infrastructure: Gov. Sherrill delivered the next steps of New Jersey’s data center plan, signing legislation to boost transparency on energy and water use and offering municipal guidance. Health Tech Leadership: Samsara Vision promoted Jason Herod to CEO, continuing leadership momentum for the NJ-based ophthalmic device company.

Amazon Antitrust/Consumer Costs: The FTC and 22 states, including New Jersey, sued Amazon alleging it secretly inflated sponsored-ad prices for more than 1 million advertisers using undisclosed surcharges and auction manipulation, potentially costing tens of billions; Amazon denies wrongdoing. Food Safety in NJ Retail: Walmart shoppers in New Jersey were warned after a multistate recall of Martina-brand mangoes (302 boxes) over possible Salmonella risk tied to the same farm as positive samples; no illnesses reported. Local Health Response: Montclair launched an opioid response street team to connect people to treatment before, during and after overdoses, funded through New Jersey’s opioid settlement share. Education/Arts Funding: Paper Mill Playhouse received a $150,000 Disney grant to expand its Disney Musicals in Schools program in eligible Newark-area public elementary districts. Business & Legal: Subaru of Cherry Hill is seeking amended plans to relocate its dealership on Route 70, adjusting for NJ flood-hazard rules. Public Safety/Crime: A Prospect Park councilman was permanently banned from office after pleading guilty in a Lucchese-linked illegal gambling ring. Corporate Finance: Johnson & Johnson scheduled an investor call for Oct. 13 to review third-quarter results.

Cannabis Markets: Green Thumb Industries’ stock may look stuck, but analysts point to steady profitability, strong retail footprint, and high-margin wholesale brands as the reason Wall Street remains bullish. Securities Watch: Kaplan Fox flagged multiple investor deadlines tied to major companies, including GoDaddy (lead-plaintiff move by Oct. 20), UWM Holdings (Oct. 13), Taboola (Oct. 20), and Pentair (Oct. 2), underscoring how quickly market-moving claims can hit New Jersey-linked investors. AI/Data Centers & Compliance: A major East Coast data center in Vineland, DataOne, is accused of running dozens of unpermitted generators and violating federal law, adding pressure on the state’s growing data-center oversight. Legal/Markets: A Ninth Circuit ruling gives Nevada more power to regulate Kalshi’s sports prediction markets, creating a circuit split that could escalate to the Supreme Court. Local Business: New Jersey permanently legalizes to-go cocktails, giving restaurants another revenue lever as costs stay high. Consumer Safety: Walmart recalls mangoes in four Northeast states after Salmonella was found at the source farm, including distribution into New Jersey.

Data Centers vs. Town Zoning: Holmdel Township approved a local ban on data centers, adding to New Jersey’s growing resistance over water use, power demand and neighborhood impacts—though a Bell Works/Bell Labs-area bid could still move forward because its application predates the new rules. Public Safety: A drunken boater has been charged with homicide after a crash near Toms River killed a 26-year-old passenger, marking the third deadly Jersey Shore boat wreck this summer. Consumer & Business Risk: A lawsuit alleges a fuel supplier to Trump-praised “Freedom Fuel” discount stations sold about $4 million in stolen gas to New Jersey and Pennsylvania retailers. Sports Betting/Regulation: Kalshi’s reported U.S. Open exclusivity deal is drawing fresh scrutiny as courts continue to weigh who can regulate prediction markets—an issue that’s already hit New Jersey and Nevada differently. Local Fraud Signals: BBB Scam Tracker data shows Harrington Park and Sussex each logged scam reports in July, underscoring ongoing consumer-loss risk across the state.

Meta Settlement & Teen Safety: Meta agreed to a massive multistate settlement tied to claims its Facebook and Instagram harmed children, with New Jersey set to receive at least $525 million and new teen-safety rules expected to follow. Data Centers & Local Control: Gov. Mikie Sherrill signed a law requiring data centers to report water and energy use, as New Jersey municipalities continue battling new facilities—Jackson and others have moved to ban them. Prediction Markets Clash: Kalshi’s legal fight with Nevada continues, with courts backing Nevada’s ability to regulate prediction markets and setting up a broader fight over who has authority. Healthcare Labor Pressure: Hospital strikes are being fueled by staffing shortages and violence against healthcare workers, raising pressure on employers and policymakers. Retail & Real Estate Signals: Nordstrom is exiting an Illinois mall anchor spot, laying off 101 employees—another sign of ongoing retail reshuffling. Transportation Tech: JFK Terminal 6 selected Sittig Technologies’ PAXGuide to automate multilingual passenger announcements across all gates. Sports Business Watch: The Jets and Dolphins are active in the QB trade market, while the Buffalo Bills face scrutiny over stadium field quality and seat/pricing dynamics.

Data Center Accountability: Gov. Mikie Sherrill signed a law requiring data centers to report how much water and energy they use, as towns like Jackson and East Brunswick push back on new facilities and Jackson’s mayor reports threatening messages tied to the debate. Meta Settlement Fallout: New Jersey is set to receive about $500M from Meta’s nearly $20B child-safety settlement, with the state AG framing it as a landmark “big tobacco” style payout and a major rules overhaul for Facebook and Instagram. Prediction Markets Legal Fight: A federal appeals court sided with Nevada in its fight against Kalshi, deepening the national scramble over whether states or the federal government should regulate prediction markets. Fuel Fraud Lawsuit: A Mansfield Oil suit alleges a New Jersey-linked operator behind the Freedom Fuel Network took about 1.12M gallons—nearly $4M worth—without paying, prompting a preliminary injunction to hold funds. Public Health Recalls: B. Braun and Baxter recalled specific 0.9% sodium chloride IV lots due to particulate contamination concerns, including zinc oxide and possible fiberglass. Business & Growth: BookSmiles, a Cherry Hill nonprofit, is expanding its book distribution operation after distributing 5M books, aiming to boost access for kids.

Housing Wealth: LendingTree says New Jersey homeowners report some of the highest home equity in the U.S., with a median ~$295,000 and nearly three in four equity shoppers holding at least $200,000. Immigration Enforcement: A Stateline analysis finds states with stricter non-cooperation “sanctuary” policies tend to see lower local jail immigration arrests, while states limiting sanctuary show higher rates. ICE Crackdown Impact: ICE data cited in coverage shows arrests surged in July, with New Jersey and other states seeing big jumps even after new state restrictions on cooperation. Consumer/Business Policy: Gov. Mikie Sherrill signed a law making COVID-era rules permanent, allowing NJ restaurants and bars to sell alcohol to-go and for delivery. Retail Expansion: Target will open “Beauty Studio” concepts in 24 NJ stores starting Sept. 10, part of a broader $2 billion remodel push. Tech/Regulation: Meta agreed to an $18B settlement with states, including NJ, over child-safety and privacy claims, with mandated changes to Facebook and Instagram. Aviation/Regional Growth: Port Authority and partners are pursuing a new strategy to attract airlines to Stewart Airport, using a proposed minimum revenue guarantee to reduce route risk.

To-Go Alcohol Becomes Permanent in NJ: Gov. Mikie Sherrill signed a bill making COVID-era rules permanent, letting bars, restaurants and other eligible licensees sell and deliver cocktails in sealed containers for off-premises consumption. Public Safety & Enforcement: A major interstate cocaine case landed in New Jersey after authorities say a 35-year-old Englewood man was arrested outside a Long Island City self-storage site tied to a network spanning NJ and New York; officials said the haul topped 580 pounds worth about $10 million. Organized Crime in Local Politics: Prospect Park councilman Anand U. Shah pleaded guilty to racketeering and money laundering tied to an illegal gambling operation connected to the Lucchese crime family, with forfeiture of his seat and a recommended 10-year prison term. Data Privacy & Kids Online: NJ urged a judge to force TikTok to turn over detailed user engagement data, arguing the platform’s design harms children. Health Care Compliance: Baxter issued nationwide recalls of IV solutions, including sodium chloride lots potentially containing fiberglass, affecting providers and distributors across multiple states including New Jersey. Prediction Markets Legal Fight: A federal appeals court ruling backed Nevada’s ability to regulate Kalshi-style sports contracts as gambling, setting up a likely higher-court showdown.

Data Centers & Utilities: Gov. Mikie Sherrill signed a new law requiring NJ data centers over 100MW to report energy and water use to the Board of Public Utilities, including semiannual totals, cooling vs. IT energy, peak daily water, water sources, and on-site/backup power—part of a broader push to curb cost shifting and tighten “guardrails,” though environmental groups say it doesn’t go far enough. Class-Action Watch: Kaplan Fox flagged investor deadlines in securities-fraud cases tied to NJ-linked market names, including Photronics (PLAB) with a Sept. 4 lead-plaintiff deadline and Hub Group (HUBG) with an Aug. 28 deadline. Housing Market: A new report finds the U.S. remains short on inventory, with “zombie homes” edging down but vacancy still tight—keeping pressure on prices. Opioid Prevention: Millburn-based Partnership for a Drug-Free New Jersey marked its 11th annual Knock Out Opioid Abuse Day with a focus on older adults, citing high overdose death rates among seniors. Local Mobility: Asbury Park launched a free, wheelchair-accessible weekend shuttle starting Aug. 28, funded by the state to reduce parking and traffic hassles. Biotech/Health: A phase 3 study reported HTD1801 (berberine + ursodeoxycholate) improved A1c when added to metformin for type 2 diabetes. Business & Growth: Celularity announced a manufacturing collaboration that could bring up to $300M and 200+ jobs to its Florham Park facility. Workforce Signal: NJ reported 25,600 preliminary job losses in July, the steepest monthly decline since early pandemic months.

Data Center Transparency: Gov. Mikie Sherrill signed a law requiring New Jersey data centers to report electricity and water use to the Board of Public Utilities every six months, including cooling energy, peak daily water use, water sources, and power backup details—aimed at boosting accountability as nearly 40 towns have moved to ban or restrict new AI data centers. Local Impact/Enforcement: A separate investigation alleges one East Coast AI data center in Vineland, NJ, is running dozens of unpermitted gas generators, raising potential federal air-emissions violations. Meta Settlement Fallout: Meta agreed to pay states up to $17.1B over claims it designed Facebook and Instagram to be addictive and harmful to children, with NJ expected to receive at least $525M and to implement child-safety changes. Healthcare Recall: Baxter recalled multiple injectable drugs nationwide due to potential fiberglass or metal contamination, including saline and dextrose products shipped to NJ. Business & Community: Jersey City approved an $886.4M budget with a 15.15% rate hike, while Phillipsburg moved toward resuming repairs on the Black Bridge after long delays.

Meta Settlement: Meta agreed to pay New Jersey at least $525 million as part of a multistate child-safety settlement, with the broader deal totaling up to about $17.1 billion and requiring major changes to Instagram and Facebook for teens, including default daily time limits, nighttime access blocks, and limits on features like public like counts. Local Business & Retail: A 7 Brew drive-through coffee stand is proposed for the Packanack Wayne Shopping Center on Route 23 in Wayne, adding two drive-through lanes and a refrigerated shed as the franchise expands across New Jersey. Healthcare & Workforce: A free Sept. 10 webinar will focus on EMS-initiated buprenorphine for opioid use disorder, featuring clinicians from Cooper University Health Care and Cooper Medical School of Rowan University. Energy & Schools: A new report finds more than 10,800 U.S. K-12 schools now use solar, with districts saving millions in avoided electricity costs—an angle that matters for NJ school budgets and clean-energy planning. Economy Watch: Initial jobless claims dipped to 203,000, keeping the “low hire, no fire” labor picture in view.