Industry Trends and Predictions for 2018

THE PACE OF CHANGE IS MAKING success a moving target, and businesses are working hard to thrive in this environment. For 2018, agile companies will be put to the test as a new administration in Trenton and federal tax policy may change the rules of the game, making smart decisions key factors in performance metrics. Here are some industry trends and predictions for 2018.

ACCOUNTING

Citrin Cooperman
By Alex Serrano, CPA, NJ Managing Partner

The accounting industry is continually evolving, where service providers have to be evermore progressive – to think beyond the numbers in order to provide true value. At Citrin Cooperman, our approach has always been client-focused and, as our clients’ needs evolve and shift, we have come to be more specialized in our offerings, to truly understand and bring value to our clients’ business.

 

EisnerAmper LLP
By Charles Weinstein, CEO

Change will be the hallmark of the accounting profession in 2018, driven by continued advances in technology based client solutions. EisnerAmper continues to embrace this technology and cultivate the top talent necessary to leverage those solutions. With, hopefully, a continued robust economy, we feel exciting times are in store for EisnerAmper and the firm is primed for solid growth in 2018.

 

NJCPA
By Ralph Albert Thomas, CEO and Executive Director

Technology continues to reshape the role of accountants and how we respond to clients and stakeholders. In turn, the future workforce will adapt with changing demographics and skillsets. The challenge for 2018 and beyond will be to maintain top talent while furthering the role of CPAs as trusted advisors.

 

 

WithumSmith+Brown, PC
By Bill Hagaman, CEO and Managing Partner

Tax reform will help large businesses and hopefully increase GDP. However, in New Jersey, business owners will be hurt by the loss of the state and local tax deductions. The stock market is at an all-time high, so returns will most likely flatten out. But as it is a leading indicator, I would expect 2018 to be a good growth year for New Jersey.

ARCHITECTURE

 

DMR Architects
By Lloyd A. Rosenberg, President and CEO
In 2018, DMR Architects is preparing its business for continued growth in each of the segments
it serves, including projects for real estate developers, healthcare institutions and the public sector. With a newly elected governor committed to growing the economy and investing in infrastructure, along with new initiatives inherent with any new administration, DMR projects measurable growth in the architecture and engineering industry, which may be tempered by the limited availability of experienced, skilled professionals.

 

BANKING

Atlantic Stewardship Bank
By Paul Van Ostenbridge, President
Cyber attacks will become more sophisticated and common; according to the FBI, cyber victims lost $1.3 billion from Web-based scams in 2016. ASB recommends the following tips to help keep your information safe. Keep your computers and mobile devices up-to-date. Create complicated passwords. Watch out for phishing scams. Keep personal information personal. Secure your Internet connection. Before shopping online, make sure the Web site uses secure technology.

 

Capital Bank of New Jersey
By David J. Hanrahan, President and CEO
There are lots of things I don’t know about 2018, such as where interest rates are headed.
But this I know: There will be fewer and fewer community banks as time goes on. That’s not good public policy, but it does mean that the value proposition and competitive advantages of
local, friendly, responsive, flexible commercial lenders, such as Capital Bank of New Jersey, will only increase.

 

 

Fulton Bank of New Jersey
By George Robostello, Regional President, Southern Division
At Fulton Bank of New Jersey, we’re excited for the opportunities 2018 brings. Our focus next year will be on responsiveness and technology. We’ll continue to provide the level of dedicated service our customers expect, while also offering the convenience and accessibility of new digital solutions. We’ll also modernize the look and feel of some branches in the coming year.

 

 

Lakeland Bank
By Thomas J. Shara, President and CEO
We have a very positive outlook for 2018, as we are well-positioned to continue to grow the bank’s consumer and commercial bases within our core and adjacent markets. We also expect the financial services industry to have a solid year, although disruptive technology and cybersecurity risks will remain top challenges. Growth beyond 2018 will be influenced by tax reform, regulatory relief and the New Jersey and national economy.

 

 

New Jersey Bankers Association
By John E. McWeeney, Jr., President and CEO
The banking industry will continue to perform well in 2018, buoyed by a strengthening economy and rising interest rates. At some point, the current economic recovery will falter and that could be delayed or accelerated depending upon the ability of the administration and Congress to work together on tax reform and infrastructure spending. Nonetheless, the current cycle seems to have enough momentum to sustain itself well into next year, which should bode well for bank earnings.

Interest rates should continue their slow but steady rise as the Fed seems determined to move rates higher. That said, the increases should be modest as the Fed is cautious not to prematurely end the recovery. Major global socioeconomic events, of course, could always derail the economy.

Meaningful banking legislative reform from Congress is unlikely, given the lack of bipartisanship and the approach of the mid-term elections. That said, the appointment of new regulatory heads by the Trump administration holds the promise of a different regulatory tone coming out of Washington, especially for community banks. This should lead to an improved regulatory environment.

We should see a continuation of recent trends regarding New Jersey banks. Those trends include rising earnings driven by increased lending activity and improving margins, as well as stronger capital levels due to the earnings and continued strong credit quality. At some point, the credit cycle should deteriorate, but that doesn’t seem imminent.

Despite these positive trends, we anticipate continued consolidation of the banking industry and New Jersey will not be immune from that. Smaller community banks continue to struggle with the cost of regulatory compliance and therefore mergers that achieve greater scale will still prevail. Of course, New Jersey’s economy and business climate will be potentially impacted by the new administration in Trenton.

 

 

NVE Bank
By Robert Rey, President and CEO
If tax reform occurs, reducing burdens on small business, this could play a significant
role in 2018 economic growth. Stronger balance sheets for small businesses make it more economically feasible for them to reinvest resources, hire more employees and secure less-costly financing for growth and expansion from community banks such as NVE Bank.

 

 

Provident Bank
By Christopher Martin, President and CEO
Preparing for 2018 is proving to be a challenge with the confluence of geopolitical events, extreme partisanship in Washington and New Jersey, and a lack of direction by same. Tax and healthcare reform and regulatory relief have been difficult to come by, as Congress digs in on their parties’ respective ideologies. Against this dismal backdrop, employment numbers are improving, and consumer confidence is high, along with market volatility being low. We are cautiously optimistic on the continued improvement in the economy and the overall business climate.

 

COMPLIANCE

Galante Compliance Services, LLC
By Alena Galante, MBA, CHC, CSSBB, President
For 2018, Galante Compliance Services, LLC foresees a continued shift in our clients’ desire to use smaller consulting firms instead of larger ones. Our clients’ needs require more personal attention, more collaboration and meaningful results. It’s not about throwing bodies at a project, working from home, and delivering a room full of documents with little value. It is about being a trusted advisor—a mentor— to navigate the ever-changing regulations for our clients into risk-based practical solutions, through collaboration, balance with budgets, resources and timing of their projects.

 

CONSTRUCTION

ELEC 825
By Mark Longo, Director, Engineers Labor-Employer Cooperative
As the new administration settles in and the projects funded by the groundbreaking TTF replenishment continue to move forward, we expect to see a shift in direction as it pertains to infrastructure investment. New Jersey’s future energy demand and aging water systems will need to be addressed, and we expect to play a leading role in those discussions.

 

 

March Associates Construction, Inc.
By Louis D. March, Jr., President
We believe we will see continued growth in our company and industry. The rate of the growth may be at a reduced pace in some market sectors, but I think the industrial and mixed-use markets have a strong backlog and we will start to see “new look” retail centers that will offer more than just a shopping experience.

 

 

 

Northeast Regional Council of Carpenters
By John Ballantyne, Executive Secretary-Treasurer
In 2018, we will continue to see a tremendous amount of growth in our carpenter membership and investment in our training facilities. There are plenty of work opportunities throughout New Jersey, including the development of the American Dream in East Rutherford, the Summit Medical GroupMD Anderson building in Florham Park and the Stockton University campus in Atlantic City.

 

 

Structure Tone
By John White, Jr., Regional COO, Woodbridge
Our market continues to grow, but at a slower pace than in previous years. Where we are seeing an uptick in activity, which we think will continue into 2018, is in adaptive reuse. Developers are revitalizing outdated corporate and pharmaceutical campuses—like Somerset Development’s Bell Works complex in Holmdel; the Center for Excellence being developed by Advance Realty on the former Sanofi Aventis site in Bridgewater; and Prism Capital Partners’ repositioning of the Roche campus in Nutley—as new mixed-use hubs with commercial, residential, and retail uses. We’re also seeing a wave of consolidations as large companies work to build spaces that bring their dispersed workforce together in a modern, amenity-rich workspace that better matches the way people work today, while helping to attract and retain talent.

 

CONSUMER ELECTRONICS

LG Electronics North America
By William Cho, President and CEO
At LG, we’re looking ahead to a transformative year in our industry as 4K Ultra HD TVs continue to grow, expected to surpass sales of conventional HDTVs in 2018. LG will be leading the charge with our industry-leading LG OLED TVs. Similarly, 2018 will be a critical year in the home appliance industry as connected “smart” appliances take hold in the smart home ecosystem. LG will leverage its “Open Platform” leadership, offering more than 100 appliances with Google Home and/or Amazon Alexa compatibility. For LG in New Jersey, the year ahead is very promising, as work progresses on our world-class, sustainable, new, North American headquarters building in Bergen County, and as we gear up our new East Coast distribution center in Mercer County.

 

ENVIRONMENTAL BUSINESS

GEI Consultants, Inc.
By Ron Palmieri, President and CEO
2018 business opportunities for GEI in New Jersey are strong, and we are well-positioned to continue to support new and brownfield site development throughout the state. Our geotechnical and environmental engineering capabilities provide innovative and cost-effective design and remedial solutions, especially for the types of challenging and complex urbanindustrial sites that will continue to be needed in this highly demanding market segment.

 

FINANCIAL SERVICES

Next Generation Services LLC
By Jaime Raskulinecz, CEO
We’re expecting Millennials to take a lot more interest in their self-directed IRAs, 401(k)s and other retirement plans, compared to the Baby Boomers. We’re also cautiously optimistic that the tax benefits of retirement plans will not be seriously affected by the current discussions between the White House and Congress. Our firm, which opened in 2004, currently holds almost $600 million in assets for clients. In 2017, we formed a trust company, so all custody of clients’ assets is by our affiliated company, offering a more seamless experience for clients.

 

HEALTHCARE

Delta Dental of New Jersey
By Dennis G. Wilson, President and CEO
Today’s consumers are expecting more individualized interaction with their healthcare
companies. Remaining at the forefront of ever-changing customer demands, improving our customer’s overall experience and expanding the digital education offerings in order to help the decision-making process is our prediction for the focus of the oral health industry in 2018.

 

 

Hackensack Meridian Health
By Robert C. Garrett, FACHE and John K. Lloyd, FACHE, Co-CEOs
We are adding JFK Health to our network, opening a new medical school with Seton Hall University and expanding more than 140 patientcare locations throughout New Jersey. Our partnerships with Memorial Sloan Kettering Cancer Center and the New Jersey Innovation Institute will continue to improve healthcare and support innovation. The industry will remain focused on developing more robust population health programs, while making healthcare more affordable.

 

 

Kessler Institute for Rehabilitation
By Sue Kida, President
As New Jersey’s only nationally ranked rehabilitation hospital, Kessler Institute remains
committed to expanding our programs, services and geographic reach to best address our patients’ dynamic and often complex needs. We will also be working closely with our referring hospitals across the state and throughout the region to ensure individuals have access to the most appropriate level of post-acute care.

 

HIGHER EDUCATION

Berkeley College
By Michael J. Smith, President
In a world of apps and technology, the skills that students need to be successful are core skills. They need to be able to read and think critically, communicate effectively and have the ability to analyze and understand data. Technologies may become obsolete over time, but these fundamentals are needed at the start of and throughout their careers.

 

 

Georgian Court University
By Dr. Joseph R. Marbach, President
With the election of a new governor and proposed changes in the federal tax code, this will be a year of great uncertainty for higher education. At Georgian Court, we have developed a strategic compass that provides the flexibility to respond to multiple scenarios in a timely and effective manner. New program development will be driven by market demands and position our students for continued success.

 

 

Montclair State University
By Dr. Susan A. Cole, President
Montclair State University predicts that 2018 will see long-overdue attention to affordability of public higher education through urgently needed reform of the state’s irrational approach to operating funding for the institutions and its inequitable financial aid to students through the TAG program. Our university will do its part for New Jersey students through our new Presidential Scholars program.

 

 

NJIT
By Dr. Joel S. Bloom, President
The U.S. higher education sector will continue to face enrollment challenges because of
demographic shifts domestically as well as reductions in the number of international students. NJIT and other institutions that build partnerships with industry and prepare students for professional success in an economy driven by technology will buck that enrollment trend and remain very attractive to prospective students—especially at the undergraduate level.

 

HUMAN RESOURCES

Corporate Ladders
By Bill Taylor, CEO
The aphorism “a rising tide lifts all boats” has never been more apropos for attorneys, CPAs, and other professional service providers. While markets have been steadily rising, history tells us that they do not go straight up. For 2018, we believe service providers must focus on learning and improving business development skills to prepare themselves to find and secure new business when times are less robust.

 

LAW

Piro Zinna Cifelli Paris & Genitempo, LLC
By James Piro, Esq., Founding Principal
For 2018, our firm foresees continued growth in the legal services needed by our clients with resultant retention of our workforce and potential new hires. Projected low interest rates will create commercial real property acquisitions, sales and refinances. Corporate profits will generate excess cash to stimulate mergers and acquisitions. Low unemployment projections will create job movement and the need for employment agreements and relations, and residential real estate transactions.

 

PAYROLL PROCESSING

EZ Payroll
By Imran Rana, President
We are looking forward to a great year because of the new and innovative services we have started offering. Businesses have become accustomed to letting us handle their payroll; we had discussions with our clients, and sent out surveys to find out what other bottlenecks and issues are bogging down HR departments. The overwhelming response was managing the employee benefits from enrollment to changes. In response, our company is offering to take over that part of clients’ work, while eliminating the paper enrollment process. We offer a customized portal for clients’ employees to enroll and select their benefits, and then we transmit all that information to the relevant carriers on our client’s behalf. That has saved tons of time for our clients.

 

REAL ESTATE

Berger Organization
By Miles Berger, CEO
The Newark office market continues to improve through the 4th quarter 2017. The outlook for 2018 looks bright; with the possible Amazon HQ2 decision coming mid-year, interest in Newark for company relocations has never been higher. Of course, HQ2 would be a game-changer for Newark, Essex County and New Jersey.

 

 

 

Case Real Estate Capital, LLC
By Sanford Herrick, Founder and Managing Principal
At Case Real Estate Capital, we expect to continue our service line expansion in 2018 based on the needs of our clients and market conditions. We will continue to provide “nonconforming” first mortgage financing in the $5 million to $30 million range. Case recently expanded with a lower interest loan program, “bridge light,” to respond to needs in the $2 million to $8 million range for properties nearing stabilization. Our goal, with all of our lending, is to create additional profit opportunities for property owners and developers.

 

 

Cushman & Wakefield
By Andrew Judd, New Jersey Market Leader
After celebrating its 100-year anniversary, Cushman & Wakefield will continue to grow and evolve throughout 2018. Investment sales should remain strong with solid office leasing predicted in key submarkets. Combined with the progression of new commerce (the convergence of retail, logistics and e-commerce), record setting industrial activity will continue to bolster growth in those sectors as well.

 

 

Key Properties
By David Schlussel, Co-Managing Partner
The New Jersey market still has attractive infill redevelopment opportunities for commercial real estate investors specializing in complex issues. Many of our firm’s past and current initiatives involve underutilized and impaired properties requiring rezoning, environmental cleanup or both. We expect to see a continued trend toward creative second-generation solutions in 2018 and beyond.

 

 

Levin Management Corporation
By Matthew K. Harding, President
In 2017, Levin Management saw record business growth, which increased our portfolio
to 100 properties totaling 14 million square feet, along with robust tenant inquiries and transactional volume. The retail industry is in transition, yet the relevance of bricks-and-mortar remains clear. As this momentum continues in 2018, so will demand for experienced commercial real estate services providers.

 

 

Mountain Development Corp.
By Michael Seeve, President
2018 will bring together commercial property owners and tenants in new and powerful ways. This collaboration will include harnessing technology to make space usage more efficient and productive; marrying space needs with branding and marketing; and capitalizing on strong capital markets to fund exciting, ambitious projects. Transactions will favor creative thinking; players will work together to make buildings and spaces more integral to their operations and identity.

 

NAIOP New Jersey
By Michael G. McGuinness, CEO
New Jersey will continue to be one of the top two distribution and supply chain platforms for North America with 1 billion square feet of industrial space and more on the way. We anticipate a trend downward due to the lack of available land with access to the port. Office, mixed use and retail should grow along more urban rail markets.

 

 

Prism Capital Partners, LLC
By Edwin Cohen, Principal Partner
Walking Urbanism will dominate planning for new development and redevelopment in the coming year, with our 116-acre ON3 campus in Nutley and Clifton serving as a benchmark. Few places offer such an exciting opportunity to create a world-class, mixed-use setting integrating office and R&D facilities, housing, retail and recreational space, and hospitality and wellness options— within a single, pedestrian-friendly environment.

 

 

 

TECHNOLOGY

Integrated Business Systems
By Michael Mullin, President
Cybersecurity will continue to dominate headlines in 2018. More than 100,000 pieces of malware are being created on a daily basis and this incredible proliferation essentially guarantees that every person and every business will be impacted at some point. Constant vigilance and ongoing education must be a focus for everyone as threats—and solutions— constantly evolve.

 

 

 

TRANSPORTATION AND SOLID WASTE DISPOSAL

Hainesport Transportation Group
By Darryl Caplan, Founder and Managing Director
Demand for transportation and solid waste disposal services continues to trend upward leading into 2018. This increased demand is attributable to continued growth in both the commercial and residential building sectors in Southern New Jersey. The increased pressure on local disposal capacity will likely result in a corresponding increase in disposal rates.

 

 

 

WINE & SPIRITS

Garden State Wine Growers Association
By Tom Cosentino, Executive Director
The just-ended year was a standout for New Jersey wine growers, and 2018 should see continued growth. Producers in the state have done well in multiple competitions, and with greater public awareness, they’ve enjoyed more sales and increased production. In November 2017, the Garden State Wine Growers Association launched its first ever television commercial promoting New Jersey Wine Country, and in 2018, a billboard promoting beverage tourism in the state will go up near Newark Airport.

Saving Lives in New Jersey: Advances in Cancer Care

MORE THAN ONE-THIRD OF Americans, some 120 million people, will be diagnosed with cancer sometime during their lives. It is among the most-feared of human diseases, but new medical advances are offering patients more treatment options and hope for the future. New Jersey’s top doctors and hospitals are fighting cancer with state-of-the-art technology, new medicines and evidence- based treatment protocols.

CentraState Medical Center
By Bhavesh Balar, M.D., Board-Certified Hematologist and Oncologist, Chairman of the Cancer Committee, Board Member at Regional Cancer Care Associates

The cancer specialists at The Statesir Cancer Center at CentraState are advancing cancer care with evidencebased technology and powerful new therapies to give individualized care to each patient and offer unique technologies that you don’t see in many community cancer centers.

CentraState was one of the first hospitals in the country to offer the unique treatment called SpaceOAR—a hydrogel that protects organs at risk during prostate radiation treatments. SpaceOAR significantly lowers the radiation dose to the rectum, dramatically reducing the risk of complications and ultimately improving a patient’s quality of life. CentraState’s cancer specialists are removing skin cancer without surgery. Brachytherapy is a nonsurgical treatment option for patients with basal and squamous cell skin cancers, particularly in cosmetically sensitive areas such as the face. Using a special applicator, oncologists deliver radiation directly to the cancer cells while sparing surrounding normal tissue. CentraState focuses on both personalized healthcare and personalized medicine. More and more cancer patients are benefitting from targeted therapy, a more tailored approach to eradicating cancer cells. Targeted therapy uses genomic testing to help identify specific mutations in cancer cells. Certain medicines are effective for specific mutations, targeting the cancer cells with less impact to healthy cells— which in turn results in more effective treatment with fewer side effects. Medical oncologists at CentraState use this approach to help decide the best course of treatment based on an individual’s genetic makeup.

 

Englewood Hospital and Medical Center
By Steven Brower, M.D., Medical Director, The Lefcourt Family Cancer Treatment and Wellness Center and Chief of Surgical Oncology and Hepatobiliary Surgery

Over the past year, The Lefcourt Family Cancer Treatment and Wellness Center has continued to expand and enhance our programs and services. In prostate cancer, for example, we have acquired an advanced diagnostic technology called MRI ultrasound fusion biopsy. The technology uses a two-step process that offers greater accuracy over traditional prostate cancer biopsies. First, a patient undergoes magnetic resonance imaging (MRI) of the prostate.

A radiologist evaluates the images and identifies and marks any suspicious areas for further evaluation by a urologist. The urologist then fuses or superimposes the images with real-time ultrasound images, which produces 3D images of the suspicious areas and offers improved ability to biopsy the prostate. Our multidisciplinary team approach fosters tailored and personalized care, rather than a cookie-cutter, one-size-fits-all approach. Surgeons, medical oncologists, radiologists, radiation oncologists, nutritionists, pathologists, nurses and nurse practitioners, integrative medicine experts, and social workers come together to develop a treatment plan that is best for each patient.

 

Jersey Shore University Medical Center, Hackensack Meridian Health
By Thomas Bauer, M.D., Chief, Thoracic Surgery, Interim Medical Director, Hackensack Meridian Cancer Care, Medical Director, Thoracic Oncology, Hackensack Meridian Cancer Care

When it comes to lung cancer, the dedicated team at Jersey Shore University Medical Center is committed to achieving the best possible outcomes for each patient. As a member of the
Society of Thoracic Surgeons (STS), Jersey Shore’s thoracic experts participate in the STS General Thoracic database. This enables healthcare facilities to measure their outcomes against other hospitals across the country. An example of where we stand apart from others is in the treatment of Stage I lung cancer. Lobectomy—which is removing part of the lungs—is the most common surgical resection for lung cancer. For Stage I lung cancer, our physicians perform lobectomy 100 percent of the time utilizing minimally invasive techniques (including robotic surgery), versus an open surgical procedure. This is compared to only 73 percent of other national participants in the database. Likewise, our patients experience a shorter length of stay when compared to facilities throughout the nation. With stellar outcomes such as these, as well as an unsurpassed level of personal concern, advanced technologies, access to clinical trials and comprehensive support resources, patients can be confident that exceptional cancer care is close to home.

 

Holy Name Medical Center
By Raul Parra, M.D., Medical Director, Patricia Lynch Cancer Center, Director of Urologic Oncology

The Patricia Lynch Cancer Center at Holy Name Medical Center is a comprehensive center offering the full spectrum of cancer services—diagnostics; medical, radiation and surgical oncology, with a range of subspecialties; the latest-generation technology and techniques; nurse navigation; genetic counseling; and holistic psychosocial services from the Cancer Support Community, within a personalized environment of healing. Our evidence-based, high-quality cancer care is commensurate with services that are available at larger urban medical centers. The difference is the way we deliver care, within an atmosphere of compassion and cultural sensitivity, where services and practitioners are easily accessed. Holy Name’s board-certified, fellowship-trained oncologists and surgeons have trained and worked at some of the most prestigious cancer centers and could practice anywhere they choose. Instead, they have opted to come to Holy Name, where they can get to know every patient they treat, and no one is an anonymous number. Our multidisciplinary patient-centric approach features teams of practitioners organized into disease-specific groups that focus on a particular type of cancer, including breast, lung, prostate, and colon, and also on all types of gastrointestinal, urologic, gynecologic and blood malignancies, including lymphoma. This approach ensures personalized treatment, maximizes efficiency, minimizes wait times for appointments, and makes it easier for patients to gain access to new treatments and to Holy Name’s expanded program of clinical trials.

 

Hackensack University Medical Center, Hackensack Meridian Health
By Andrew L. Pecora, M.D., F.A.C.P., C.P.E., President of Physician Enterprise and
Chief Innovations Officer at Hackensack Meridian Health, Professor of Medicine and Oncology at Georgetown University

Hackensack University Medical Center is the first and only hospital in New Jersey certified to offer chimeric antigen receptor (CAR) T-cell therapy—a breakthrough, personalized immunotherapy for certain blood cancers—and has been involved in CAR-T cell research for nearly a decade. CAR-T cells represent one of the most exciting therapeutic advances ever in the treatment of cancer, and the approval of targeted immunotherapy by the FDA is a historic milestone in medicine. We are proud to be among the few centers in the United States with the experience to safely provide this novel therapy—a testament to clinical excellence of the John Theurer Cancer Center and Sanzari Children’s Cancer Institute.

 

Jefferson Health New Jersey
By Tamara LaCouture, M.D., Medical Director, Radiation Oncology

Jefferson Health New Jersey (formerly Kennedy Health) offers special expertise in the diagnosis and treatment of lung carcinoma. We have a robust, technologically advanced, comprehensive,
patient-centered lung cancer program. A nurse navigator assists the patient throughout their entire spectrum of management. Our newly opened Lung Nodule Center provides access to advanced diagnostic and treatment technology. Coordinated visits with the multidisciplinary team on the same day as comprehensive case review by pulmonology, thoracic surgery, radiology, medical oncology and radiation oncology eliminates multiple appointments and decreases the time to diagnosis, using advanced technologies such as EBUS (Endobronchial Ultrasound). For patients who require treatment, Jefferson Health New Jersey offers the latest in minimally invasive thoracic surgery techniques and noninvasive stereotactic body radiosurgery (SBRT) using Brainlab’s ExacTrac. As a member of the Sidney Kimmel Cancer Center, we can offer our patients access to advanced clinical trials and cancer genetics right here in New Jersey. High-risk screening, early intervention, multidisciplinary care and advanced technology have been proven to improve lung cancer outcomes.

 

Rutgers Cancer Institute of New Jersey
By Janice M. Mehnert, M.D., Director of the Phase I/Investigational Therapeutics Program, Associate Professor of Medicine at Rutgers Robert Wood Johnson Medical School

At Rutgers Cancer Institute of New Jersey our physician scientists are collaborating with investigators at other cancer centers across the nation and with industry partners to explore drugs known as “checkpoint” inhibitors through clinical trials. Checkpoint inhibitors target certain proteins that interfere with one’s immune system and keep it from working properly. This new class of drugs helps the body’s natural defenses to get back to work in attacking the cancer. Many patients with multiple different tumor types are now benefiting from this therapy. At Rutgers Cancer Institute of New Jersey, we’re further examining this treatment through clinical trials for many types of cancers including melanoma, lung, breast, gastrointestinal, and gynecological cancers. Thanks to a recent partnership between Rutgers Cancer Institute of New Jersey and RWJBarnabas Health, unique clinical trials such as these and
other cancer services are now available to cancer patients throughout the RWJBarnabas Health system. Rutgers Cancer Institute of New Jersey is conducting other important research focusing on DNA repair in collaboration with the National Cancer Institute’s Center for Cancer Research. The resulting data will be translated into future cancer therapies that will benefit patients of Rutgers Cancer Institute of New Jersey, RWJBarnabas Health and beyond.

 

RWJBarnabas Health
By Steven K. Libutti, M.D., FACS, Vice President for Oncology Services, Director, Rutgers Cancer Institute of New Jersey, Vice Chancellor of Cancer Programs at Rutgers Biomedical Health Sciences

RWJBarnabas Health, now in collaboration with Rutgers Cancer Institute of New Jersey, focuses on delivering cutting- edge cancer treatment to patients, enabling them to stay closer to home
for their care. Our recent partnership means we can reach more patients with novel therapies and clinical trials to which they may not have had access otherwise. Through an integrated approach, patients have access to interdisciplinary care in which practitioners are pulled together into teams allowing patients to see all specialists at once. Patients are then navigated to the part of our program that is best suited for favorable outcomes and is most convenient for them, whether at Rutgers Cancer Institute of New Jersey or one of the RWJBarnabas Health hospitals. For instance, through the Endocrine and Neuorendocrine Tumor Program at Rutgers Cancer Institute of New Jersey, those with very unique forms of cancer involving the thyroid, adrenal glands or hormone-producing adrenal tumors can be treated by those who specialize in these cancers. Clinicians in this program work closely with scientists on basic, clinical and translational research activities to advance our understanding of these unique tumors. With that, cutting-edge clinical research conducted within the program provides Cancer Institute of New Jersey patients and RWJBarnabas Health patients with access to the latest clinical trials and novel therapeutics to treat these unique tumors.

 

Trinitas Regional Medical Center
By Michelle Cholankeril, M.D., Medical Oncologist, Trinitas Comprehensive Cancer Center

With the addition of the Connie Dwyer Breast Center, coming in early 2018, Trinitas Regional Medical Center will have a dedicated state-of-the-art women’s health and breast center. The
staff includes a breast surgeon as part of the team of board certified physicians, and a certified breast patient navigator. A new approach in cancer care includes a ground-breaking study that investigates the impact of weight loss on breast cancer recurrence. The Breast Cancer Weight Loss (BWEL) study, sponsored by the National Cancer Institute and the Alliance for Clinical Trials in Oncology, enrolls overweight and obese women with early stage breast cancer to determine if weight loss can help prevent their disease from returning. The BWEL Study offers both preventative and curative medicine to our breast cancer survivors seeking physical fitness and
wellness. It also makes a weight loss program available to a community of patients that may not ordinarily have access to a fitness routine. Trinitas offers various health and wellness trials through the Kessler Institute for Rehabilitation. In fact, our clinical trials department currently offers the most trials in the area of breast cancer. The Trinitas Comprehensive Cancer Center has also joined the Philadelphia-based Jefferson Kimmel Cancer Center Network. Partnering with such a prestigious academic medical center and cancer care network allows access to top-notch expertise and research that will directly benefit our patients.

The Valley Hospital
By Ephraim S. Casper, M.D., FACP, Director, Valley-Mount Sinai Comprehensive Cancer Care

Valley-Mount Sinai Comprehensive Cancer Care is distinguished by its broad clinical expertise, cutting-edge technology, and by its supportive and empathic environment. Valley has more Joint Commission Gold Seal cancer care disease-specific certifications than any hospital in the nation: breast, lung, colon/rectal, prostate, pancreatic and uterine/ovarian cancer. Examples of our patient-centered care: A nurse navigator at our NAPBC-approved Breast Center supports patients through diagnosis and treatment, which may include stereotactic biopsy, radioactive seed localization, oncoplastic surgery, TrueBeam™ radiotherapy using cardio-protective techniques, intraoperative radiotherapy or systemic therapy. Our world-class multidisciplinary brain tumor team offers patients Gamma Knife® Icon™ radiosurgery and advanced neurosurgical techniques. Our gastrointestinal oncology program includes robotic surgeons, interventional radiologists and gastroenterologists, and a coordinated team of medical and radiation oncologists. At Valley, precise diagnosis and treatment for patients with prostate cancer begins with our UroNav MRI/US fusion biopsy system, followed by shared decision- making in a multidisciplinary urologic oncology clinic. New drugs and biologics that target key molecular pathways and immunotherapeutic agents, are making a real difference for patients at Valley and elsewhere. Advanced diagnostic laboratory techniques will help us select the optimal agents for individual patients. These are under intense study in Valley’s clinical research program.

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Saint Peter’s Breast Cancer Adds 3rd Surgeon to its Team

Breast surgeon Rose Mustafa, M.D., has joined The Saint Peter’s Breast Center. Dr. Mustafa becomes the center’s third breast surgeon, along with Susan McManus, M.D., director of the Saint Peter’s Breast Center and Lisa Hopkins, M.D. Kim Dixon, M.D., serves as the Breast Center team’s breast care specialist.

Mustafa, a resident of Franklin Park, completed a breast surgical oncology fellowship at the Hospital of the University of Pennsylvania in July 2017. She finished her surgical residency in New York at Montefiore Medical Center–Albert Einstein College of Medicine.

The Saint Peter’s Breast Center is in its third, three-year/full accreditation by the National Accreditation Program for Breast Centers, or NAPBC, a program administered by the American College of Surgeons. The Saint Peter’s Breast Center also received full accreditation from the NAPBC in 2009 and in 2012. Members of the Saint Peter’s Breast Center pool their expertise, covering multiple medical specialties, to design a customized treatment program for each patient.

Using the most advanced oncology treatment options available, Saint Peter’s offers a full range of state-of-the- \art services, including women’s imaging; screening and diagnostic mammography services including tomosynthesis; breast ultrasound; image-guided breast biopsies; breast MRI and MRIguided breast biopsies; bone density; breast surgery; radiation oncology; survivorship services; “Moving On” therapeutic exercise program for patients in treatment; nutrition and social services; lymphedema prevention and rehabilitation; wellness; and genetic counseling.

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Atlantic Health System, Carol G. Simon Cancer Center at Morristown Medical Center and Overlook Medical Center

Recognized as a leader in the diagnosis and treatment of all types of cancers, the Carol G. Simon Cancer Center offers cutting-edge medical technology, state-of-the-art treatment techniques and support services in a comfortable setting.

For more than 20 years, Morristown Medical Center and Overlook Medical Center have participated in numerous clinical trials of investigational drugs and therapies that eventually received U.S. Food and Drug Administration (FDA) approval. From key developments in targeted therapy within breast and ovarian cancers to the use of immunotherapy and gene therapy to treat skin cancer, its physician investigators work in partnership with industry and cooperative group sponsors to bring the latest developments in cancer care to the community.

The growth of its cancer program reflects not only the growth of these medical centers, but also how differently cancer is treated. Research into genetic and lifestyle factors that contribute to cancer has dramatically changed the way doctors and patients approach a cancer diagnosis.

The Carol G. Simon Cancer Center routinely offers clinical trials in many areas of cancer. Depending on the condition, trials are available in immunotherapy, gene therapy, radiation oncology, and oral and intravenous therapies. Many of our trials address metastatic and advanced disease, including women’s cancers (breast, cervical, endometrial and ovarian); skin cancers and melanoma; blood cancers (leukemia); colorectal, pancreatic, kidney and liver cancers; and prostate cancer.

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Rutgers Cancer Institute Physician-Scientist Awarded $954K for Prostate Cancer Research

Isaac Yi Kim, M.D., Ph.D., MBA, urologic oncology section chief at Rutgers Cancer Institute of New Jersey, has been awarded a $954,000 Prostate Cancer Research Program Idea Development Award for Established Investigators (W81XWH-17-1-0359) from the United States Department of Defense Office of the Congressionally Directed Medical Research Program.

The funding supports Dr. Kim’s research of how neuroendocrine markers impact a common treatment for a type of prostate cancer that doesn’t respond to testosterone-lowering therapies (castration resistant). The work focuses on a hormone therapy known as enzalutamide, which targets a protein (androgen receptor) that prostate cancer cells rely on for growth and survival.

“While enzalutamide is considered a cornerstone of care for men with castration-resistant prostate cancer, clinical benefits are limited to a median time of 18 months to 24 months because the disease eventually becomes resistant to this treatment,” notes Kim, who is also an associate professor of surgery at Rutgers Robert Wood Johnson Medical School. “Our study aims to understand the link between this resistance and nerve-like cell features (neuroendocrine differentiations) so that we can find an effective treatment option for men who have developed resistance to androgen deprivation therapy and enzalutamide.”

Preliminary study data by Kim revealed castration-resistant prostate cancer tissues have a master switch that induces treatment-resistance via neuroendocrine differentiation. In this new study using laboratory models and human tissue samples of enzalutamide resistant prostate cancer, Kim will further measure levels of this master switch protein as well as the therapeutic potential of blocking it. The award period runs through August 2020.

President’s View: New Jersey Must Be “Open” for Business

ONE OF NEW Jersey’s first diners can be traced back to my hometown, Jersey City, where a lunch wagon built in Bayonne fed hungry workers and started what became diner culture. Our traffic and busy highways still support these classic culinary joints—throwbacks to a simpler time when people of all social and economic ranks dined in the same place, together. Diners still represent a kind of town square where conversation comes easy and barriers seem to fade away.

As we begin 2018, we need to come together more often and address many key challenges facing our New Jersey, from outward migration of educated students seeking a lower cost of living elsewhere to rising healthcare costs to anti-competitive legislative initiatives from policymakers that don’t appreciate the needs of our businesses.

But Governor-Elect Phil Murphy inherits a diamond in the rough, a New Jersey with significant problems, but also a state with great potential.

The Commerce and Industry Association of New Jersey (CIANJ) looks forward to working with the new governor—and the legislature—to tap into the best of the Garden State, to grow the economy and to address legacy issues such as state-funded healthcare and pension liabilities. CIANJ will advocate policies that will unleash our business community to create jobs and be a financial engine, which will signal to all that “New Jersey is open for business.”

CIANJ knows how much New Jersey’s business community can contribute to the greater good, if allowed to thrive by being freed from unnecessary regulations and not burdened by ill-advised Trenton mandates and laws that place them at a competitive disadvantage.

A $15 minimum wage and an expanded paid sick leave requirement, for example, are agenda items that could weaken the positive economic impact of New Jersey-based companies in the near-term and for the future. We have to tell our story to legislative leaders on both sides of the aisle, so they can appreciate the consequences of damaging businesses by trying to run them from the halls of Trenton. Free enterprise is not just words, and the emphasis must be on giving entrepreneurs the freedom to build a business.

Fortunately, we have CIANJ Board Members serving on various transition teams working for Governor-Elect Murphy: Uli Diaz of Horizon Blue Cross Blue Shield New Jersey (Government Technology & Innovation); Gail Callandrillo of The Valley Hospital (Healthcare); Sam Delgado of Verizon (Military and Veterans Affairs); Monica Slater Stokes of United Airlines (Transportation and Infrastructure); and Ramapo College President Peter Mercer (Urban and Regional Growth). This representation will help CIANJ advocate for business issues in the Garden State.

CIANJ plans to expand its Legislative Forums so more business leaders will have their voices heard by our elected representatives. We are also looking to create smaller venues where eye-to-eye discussions can take place, and ideas can be shared. Business leaders cannot afford to be silent, when so many important issues are being debated in Trenton. CIANJ is also adding a new voice to its team with the addition of Anthony Perry, who will join us as our new Director of Government Affairs this month. His prior position was the chief of staff to Senator Joseph Kyrillos from Monmouth County, and before that, he was an aide to Governor Chris Christie. Perry also serves the residents of Middletown Township as a councilman.

We are also enhancing our communications program and outreach efforts to Trenton and statewide with the addition of CIANJ Manager of Communications and Social Media Tracy Schoenberg to our staff this month. She is responsible for handling all external communications for CIANJ. Schoenberg has an extensive background in media, including experience in television news production, journalism and freelance writing, and is an elected official serving the residents of Oradell as council president.

New Jersey is hungry for leadership as a new governor and legislature are sure to bring change to our state. It’s important that CIANJ and business leaders team up to advocate for the issues that will determine how the economy evolves and to what degree we can—together—bring prosperity to the Garden State.

Expert Tips to Know When Buying a Property: Are You Doing Your Due Diligence?

It’s finally happened.  You found the perfect site for your latest project or a property you want to call home.  But is the property really flawless?  Is there adequate useable land for your project or future improvement plans?  Or is the land so riddled with restrictions that you couldn’t build a doghouse due to setback requirements, contamination, easements, flood hazard areas, and wetlands?  What can a buyer do to protect their hard-earned money and reduce their risk of making an un-savvy investment?

Smart buyers should follow these steps before purchasing a property to ensure a strategic real estate investment is made:

  • Phase I & II Environmental Site Assessments
  • American Land Title Association (ALTA) Survey
  • Review of Local Zoning Requirements
  • Review of State & Regional Regulated Areas

Phase I & II Environmental Site Assessments: The potential for soil and groundwater contamination on the property can be investigated by hiring an Environmental Professional to conduct a Phase I Environmental Site Assessment.  A Phase I Environmental Site Assessment includes a review of state and local records, a site visit, interviews with available owners and occupants, and an evaluation of the findings.  Environmental Protection Agency (EPA) regulations specify that a Phase I Environmental Site Assessment conducted by an Environmental Professional is part of the due diligence activities that are required in order to establish the “innocent landowner defense”.  If concerns are identified as part of the Phase I, a Phase II investigation could be conducted to obtain more information.  Phase II investigations can include geophysical investigations, soil sampling, groundwater sampling, vapor/indoor air quality sampling, etc.

American Land Title Association (ALTA) Survey: An American Land Title Association (ALTA) Survey is a detailed survey prepared by a Professional Licensed Surveyor (PLS) in accordance with very specific ALTA standards.  As part of an ALTA survey, the surveyor must be provided with a copy of the most recent title commitment and adhere to precise measurement standards.  Depending on the needs of the purchaser or title insurance requirements, An ALTA survey can be customized to include optional survey responsibilities and specifications, including but not limited to zoning, utility, flood zone, and wetland information.  Due to the detailed nature of an ALTA Survey, it can identify potential encumbrances that may be missed as part of a standard real estate transaction survey.

Review of Local Zoning Requirements: A review of local zoning requirements can expose some uncommon restrictions that may be unique to that municipality.  A thorough review should include identifying the property zoning designation, an evaluation of the permitted uses in that zone, an analysis of overlay districts that may encumber the property, and an examination of the bulk requirements schedule to identify associated risks on the property.  This review can identify significant risks to achieving your goals and evaluate if your strategy for the property is feasible.  Prior to purchase, a buyer should understand if their project will require a change in zone request or other variances as there is likely significant risk associated with attaining these approvals.  A buyer should also be able to determine the developable envelope of the property after accounting for required setbacks, impervious coverage requirements, etc.

Review of State & Regional Regulated Areas: Identifying the presence or absence of state and regional regulated areas is crucial to mitigating investment risk and identifying fatal flaws.  State regulated areas can include wetlands, transition areas, streams, flood hazard areas, riparian zones, tidelands, etc.  Identifying the limits of these regulated areas can be tricky and the extent of these areas can vary significantly from site to site.  Even if streams and/or wetlands are absent from the purchase property, their associated riparian zones, flood hazard areas, and transition areas could be present, and thus affect the usability of the land.  Regional regulated areas can include the Pinelands, Highlands, CAFRA, NJ Sports and Exposition Authority, etc.  The rules that govern land use within these regions can significantly reduce the development potential of the property.  A buyer is encouraged to seek the guidance of an experienced professional who can to assist in determining the limits of state regulated areas and evaluate the implications of regional land use restrictions.  Understanding the scope of allowable use and developable area is a critical factor when determining how much to invest in the property.

Pre-acquisition planning and feasibility research can make the difference between owning a money pit and purchasing your dream property.  LAN’s Environmental, Site Development, and Surveying Departments have the experience and expertise to provide buyers’ with pre-acquisition due-diligence services.  Additionally, if no fatal flaws are identified, LAN can provide engineering and architectural services to transform your vision into a constructible design.

Consider These Steps Before Buying a Business

There are 28 million small businesses in the U.S. that employ over 120 million people, according to the Small Business Association1. For many, owning a small business starts with creating a plan and building it from the ground up. However, buying a business may have advantages you haven’t thought of. Purchasing a business comes with numerous financial considerations, so here are five steps to consider before signing on the dotted line:

  1. Determine the type of business you are interested in

Businesses come in many styles and structures, and each type can have an impact on the decisions and potential income you could earn as the owner. It’s important to identify the structure that works best for your skillset, interest and lifestyle. Common business options you could purchase include:

  • Franchise opportunities, which offer the potential to capitalize on a brand name, track record and organizational support to help get the business up and running. This also comes at a cost, including potential ongoing fees paid to the parent company. Franchising may require you and your employees to adhere to certain standards or processes.
  • Independent businesses, which must be valued based on their bottom line, assets and reputation in the marketplace. You will be able to make decisions independently; however, you’ll need to establish your own support system.
  • Consulting or start-up companies, which often get launched because the current owner has a skill, product or expertise that meets a niche need. They tend to be less formal in structure, but the business could be developed into a more profitable one if it continues to grow.
  1. Take the time to complete your due diligence

If a seller puts a business on the market, be sure to understand why. Carefully assess the value and market opportunities of the business. You should ask to review the last few years of financial statements and use them to project potential revenues and costs. Consider bringing in an accountant if you’d like an unbiased perspective. Additionally, be sure to understand what is or is not included in the asking price, such as intellectual property, real estate, staff or equipment.

  1. Enlist the help of an experienced attorney

Drawing up the terms of a purchase agreement can be complex. Enlist a trusted attorney to vet the agreement terms and prepare legal documents related to the sale. Future success is dependent on many factors, and getting the legal aspects in order is a big one.

  1. Develop a plan to finance the purchase

There are a variety of ways to execute a business sale, including direct or installment loans, venture capital, or paying the previous owner a percentage of future sales. Most options require cash up front as a down payment. Work with your financial advisor to identify accounts or investments you could draw down to make the purchase. Although it may be tempting, avoid dipping into your retirement savings. Your retirement could last decades, and there are no loans you can use if your savings come up short. Plus, any retirement withdrawals you make are taxable and will incur a 10 percent penalty. If you are still searching for the right opportunity, consider saving a set amount each month or investing the sum according to your expected timeframe for the purchase and risk tolerance.

  1. Review your personal financial position in detail before making a commitment

Leaving a career with a steady monthly paycheck for one with a varying income level will likely require some adjustments to how you handle your expenses and savings. As you decide with your spouse or partner how to manage routine costs, make sure to also discuss how to continue funding important financial goals like saving for retirement or your child’s college education. Many of these choices may have tax implications, so consult your tax professional for guidance.  Additionally, explore your options for health and disability insurance to make sure that you and your family maintain adequate coverage.

Many factors can affect your decision to buy a business, and a thoughtful plan is a great place to start. Talk with your financial, legal and tax professionals to make sure you are in a strong financial position to buy a business when the opportunity presents itself.

1– El-Najjar, Ahmad. “Small Business in the US by the Numbers,” Townsquared, May 14, 2017.