CONTENTS

President's Message 8

Fighting Threats Near and Far 12

Industry, Upscale Offices Drive
Commercial Real Estate 18

Information Technology ’23 –
IT Trends to Watch 24

The Stories of Life's Challenges 30

Leadership 36

On the Cover: Michael Geraghty of New Jersey Office of Homeland Security was the keynote speaker at the chamber's Annual Meeting.

Photo: Cuppek Photography

Morris County Chamber of Commerce

325 Columbia Turnpike – Suite 101, Florham Park, NJ 07932

973.539.3882 | morrischamber.org

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at kmurphy@morrischamber.org.

Please send all of your “Around the Chamber” announcements

to Chris Reardon at chris@reardoncommunications.com for

consideration to be included in the “Around the Chamber” newsletter.

This is a Town Square Publications, formerly MetroMedia (since 1997), publication created and produced for the Morris County Chamber of Commerce

325 Columbia Turnpike - Suite 101, Florham Park, NJ 07932

973.539.3882 | morrischamber.org

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Chairman, CEO and Publisher | Douglas K. Ray

President and Chief Operating Officer | Scott Stone

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Mike Nickells

FIGHTING THREATS
NEAR AND FAR

By Christopher Reardon

Photo: Cuppek Photography

Homegrown violent extremists and white racially motivated extremists have replaced foreign terrorists as the primary focus of the New Jersey Office of Homeland Security and Preparedness while cybersecurity threats – both domestic and foreign – remain a top concern for the business community.

That according to Michael Geraghty, acting deputy director of Homeland Security in the state and the keynote speaker at the 102nd Annual Meeting Luncheon of the Morris County Chamber of Commerce, held Feb. 2 at the Hanover Marriott in Whippany.

Born from the ashes of 9/11, the state Office of Homeland Security and Preparedness initially was focused on threats from foreign terrorists, according to Geraghty. Yet in recent years concerns have shifted to threats from within the nation’s borders. Geraghty pointed to a recent attempt to fire-bomb a synagogue in Bloomfield and an attack against a racial equality rally at Trinity Episcopal Church in Asbury Park as examples of homegrown terrorism.

“These are acts of terrorism and it’s our mission to stamp them out,” he said.

Geraghty gave the audience a glimpse of the 2023 Threat Assessment soon to be issued by his office. The highest threat category listed homegrown violent extremists and white racially motivated extremists. Moderate threats included extremists motivated by anti-government sentiment, anarchy, abortion, race, militia and sovereign citizenry. Meanwhile, foreign threats, such as Al-Qa’ida, ISIS, Hamas and Hizballah, have dropped into the low category. Geraghty added that most homegrown extremism is fueled by disinformation found on the internet.

Of interest to the business community is the continued growth in cyber attacks and the ever increasing need for cybersecurity, with human error or system vulnerability the leading concerns.

“The threat environment is increasing…as more and more people come on line,” Geraghty said. “Eighty-five percent of (attacks) have a human nexus because people are easier to hack than systems.”

He cited ransomware, systems connected to the internet and distributed denial of service attacks as the most common types of cyber crime against businesses.

“If you have a connection to the internet, you are a target,” Geraghty said. “And it’s not necessarily how valuable you are but rather how vulnerable you are.”

He shared with the audience the prevalence of open systems – those not adequately protected – throughout New Jersey and compared it to people leaving their key fobs in the car with the doors unlocked. He encouraged businesses, municipalities, health care facilities and educational entities to report all security breaches to Homeland Security, noting that many are not.

“It’s not about a walk of shame,” he said. “It’s tantamount to a neighborhood watch.”

Geraghty had some good news for the audience. He said Homeland Security administers state and federal grants to businesses to help them increase their cybersecurity and offers risk assessments to businesses, nonprofits and governments. The New Jersey Office of Homeland Security and Preparedness can be reached at www.njohsp.gov and 833.465.2242.

In opening the meeting, Meghan Hunscher, chamber president, said, “For more than a century the chamber has as its core mission to connect, convene, facilitate, inform, collaborate and advocate for our members…When I think of what success means at the chamber, I am reminded of the many stories I have heard from you of connections and referrals you’ve made and received, trust you’ve built and closed business that has occurred.”

Hunscher said the chamber grew by 141 new members in 2022 to 776 and held 250 events. Highlights of the year included working with the county to promote the Small Business Grant Program; the re-launch and expansion of the Morris County Economic Development Alliance, including the merger with the Morris County Tourism Bureau; the Morris County Economic Development Corporation being named a regional hub for small business development centers; and a brand awareness campaign that included video on cable television. The year 2023 will feature a Women in Business PROPEL Conference and a Human Resources Summit, she added.

Deidre Wheatley-Liss of the law firm Porzio, Bromberg & Newman and the incoming chair of the chamber’s board of directors, spoke about the chamber’s 2023 strategic plan, which will focus on innovation – taking risk and creating bold programming – growth by attracting new members, and community – encouraging members to engage with the community.

“The plan will guide how the chamber will serve you and our members, the business community and the county,” she said.

The luncheon also featured the presentation of the 2023 William P. Huber Award for Outstanding Community Leadership, sponsored by Saint Clare’s Health, to Marc Adee, chairman and CEO of Crum & Forster. The award is presented to someone who displays outstanding leadership to benefit the community.

Hunscher said Crum & Forster sponsors programs that drive change in the community through corporate and employee charitable giving and community service and engagement, benefiting such worthy causes as nourish.NJ, Mayo Performing Arts Center, Jersey Battered Women’s Service, Cheshire Home, Morris Habitat for Humanity, Tri-County Scholarship Fund and the Community Foundation of NJ.

She also noted Adee sits on several nonprofit boards, including the Community Foundation of New Jersey, the Foundation for Morristown Medical Center and the Tri-County Scholarship Fund.

“At Crum & Forster we really do believe in giving back to the communities where we live and work,” Adee said. “There are a lot of people in the community who need help…I encourage you to get out there and help.”

Also speaking at the meeting was Morris County Commissioner Director John Krickus, who said Morris County is a great place to live and work. He cited low tax rates, safe communities and quality education – including top ranked-County College of Morris and the county’s VoTech.

“Morris County and towns are recognized as the safest, healthiest and quietist,” he said.

Demand for industrial space is extremely high in Morris County.

Industry, upscale
offices drive commercial
real estate

By Christopher Reardon

For most people, thoughts of Morris County evoke images of bucolic parks, quant downtowns with shops and eateries and office buildings on highways. Industry does not usually come to mind. Yet there are more than 1,250 warehousing/manufacturing businesses in Morris County and today industrial properties are the hottest commodity in the commercial real estate sector.

There are 43 million square feet of owned and leased industrial properties in Morris County, with less than 3 percent vacancy, according to Tom Mallaney, first vice president at CBRE, with local offices in Florham Park.

“If you’re looking to rent space or buy a building at this time, your choices are very few,” he said. “Companies looking to acquire space need to make a business decision and move quickly. Regarding building sales, there are many properties that are not even hitting the street and they are under contract.”

Lori Zuck and Joe Komitor, partner and assistant vice president, respectively, at Lee & Associates, with local offices in Whippany, agree. In addition, as a result of the low vacancy rate, they have seen new rental rate increases at more than 20 percent within the last fiscal year, they said.

“We’re also seeing annual rent renewals hovering around 4 percent, versus the usual 3 to 3.5 percent,” added Komitor.

The rise of internet shopping also has contributed to the high demand for industrial space in Morris County, according to Tom Consiglio, principal at Resource Realty, with local offices in Parsippany.

“E-commerce is still top of the list for most industrial businesses,” he said.

This has created a demand for fulfillment and distribution space that is outpacing supply, he said, noting that in East Hanover a 312,000-square-foot distribution facility is under construction while an additional two buildings totaling 800,000 square feet are proposed for the Novartis Campus in town.

“It comes to a point where you take what you can get,” he said.

Meanwhile, the office space sector is a tale of two cities – or more accurately, two settings.

“One of the trends we’re seeing continue is the flight to quality remains very strong,” said Brian Decillis, managing director at Cushman & Wakefield, locally in Morristown.

Flight to quality is the migration of businesses from older commodity office buildings to newer or retrofitted buildings located in urban centers and offering greater amenities, such as conference facilities, food, fitness centers and even golf simulators.

“Over the last 10 years we’re dealing more with HR directors because there’s a war for talent and there is more focus on amenities,” said Bill Brown, executive director in Cushman & Wakefield’s Morristown office.

Decillis and Brown cited Gilead Pharmaceuticals, Embecta, Zelis and Cigna Express Scripts as companies that have moved into high-amenity buildings.

As a result, older office buildings set in suburban locations are suffering. In addition, with hybrid working seemingly here to stay, businesses need less space no matter where they are located.

“We’re seeing subleasing more than double in Northern New Jersey, which tells you the vacancy rate is still high,” said Nancy Glick, chief operating officer at Newmark Associates in Cedar Knolls.

Mallaney agreed.

“With some companies, employees only come in two or three days per week,” he said. “You advise someone in their decision for space, ‘You don’t need 100,000 square feet. You only need 30,000 square feet.’”

Added Consiglio, “As leases roll over, I think you’re going to see companies right-size.”

Multifamily buildings also are hot properties right now, experts said.

“The amount of (multifamily) development has risen over the past year,” Glick said. “These firms are targeting Northern New Jersey because towns have the infrastructure, such as a rail line into the city…Strip malls and larger office buildings are being retrofitted into the live-work-play model.”

Indeed, while some older office buildings and even older manufacturing facilities with low ceilings are being torn down for new construction, retrofitting or repurposing also is taking place.

“On the industrial side, there are so few properties for lease or sale, so land and functional obsolete properties are now being pursued for development and redevelopment purposes,” said Zuck of Lee & Associates.

In fact, an existing 2.4 million square feet of office space is slated to be repurposed in Morris County in the near future, according to Brown of Cushman & Wakefield.

Said Mallaney, “Some high-tech R&D-type of companies, with people doing bench work, for example, they don’t need high ceilings. Some office buildings are entertaining the idea of bringing in these types of clients.”

This is clearly a time of transition in the commercial real estate sector in Morris County.

“Business is all about staying out ahead of trends,” said Glick of Newmark Associates. “There’s always going to be demand but you’ll see a shift from one class of building to another.”

Information Technology '23 - IT TRENDS TO WATCH

By Christopher Reardon

The world’s first computer was unveiled in 1945. Today more than half the global population has access to the internet. In 1990, there were 11 million cell phones worldwide. Today that number exceeds 2.5 billion.

Information technology does not just advance – it advances exponentially. Therefore, for businesses to succeed and maximize their IT value, they must keep up.

There are a number of IT trends business owners and managers should be watching in 2023, according to local IT experts.

The key trend in marketing will be the importance of seeking reviews of products and services, according to John Kullmann of Macrosoft Inc., an IT solutions provider in Parsippany. Companies should ask customers to post reviews after purchases, he said.

“It’s about SEO positivity…focusing on creating more revenue for your company,” Kullmann said.

Enhancing operations through existing tools also is taking front and center in 2023, according to Kullmann, who cited as an example RPA, or Robotic Process Automation, which mimics what a human does with a mouse or keyboard, such as repetitive steps in Excel or accounting reporting.

“It’s much more accurate. It doesn’t have a bad day. It can work 24/7 and it can throw out exceptions for your team to review,” he said.

Kullmann noted that many such tools already are available in Microsoft 365 but many businesses are unaware of them.

Kullmann said service providers such as Zoom or Microsoft Team will continue rolling out greater functionality in 2023, such as more screen sharing tools and virtual reality.

“We’re going to move beyond the Brady Bunch screen to greater interaction,” he said.

In addition, IT will now play a role in enhancing employee engagement in the day of hybrid workplaces, he said.

Greg Alvarez of Safari Solutions, a technology advisory and consulting company in Cedar Knolls, agreed about the importance of IT with remote working, both in terms of better leveraging tools businesses already have and security.

“Companies were forced to go remote and hybrid and the technology had to go along with it,” he said. “Now they have all this technology and in 2023 the challenge is how to best leverage it.”

He also cited Microsoft 365 as a pool of untapped resources.

“Security is (also) top of mind – protecting client accounts and data from external sources,” Alvarez said.

Ana King at managed services provider LincolnIT in Hicksville, NY, also sees a continuing trend of focusing on IT security in 2023.

“Cybersecurity has been the big buzz word for the last two years,” she said. “That’s not going away. As bad actors change their tactics, businesses have to change their tactics, too.”

King sees businesses looking to get greater value for their IT investments this year, as well, especially if there is an economic downturn.

“Making sure the services they are paying for are optimized,” she said. “They have solutions in house that are expensive and can be better utilized with a pair of third-party eyes.”

Sejal Lakhani-Bhatt of managed services provider TechWerxe agreed with Alvarez and King that security remains a hot IT button.

“People working more at home, on the go, out of state, not in their normal environment, causes certain IT issues,” she said.

She said gaining access will now become more difficult as more checks and balances are added. With employees now using their own devices of all kinds, companies will increasingly require everything be done in the cloud.

“You’re going to have to go in a certain way,” Lakhani-Batt said. “It’s going to be authenticated and nothing on your device that is restricted will work.”

To maximize the benefits of their IT investments and current IT trends, businesses also should partner with third-party service providers, the experts said.

“Technology is no longer this thing you set up and forget,” Alvarez said. “It’s constantly evolving and should align with business requirements…Find a partner to help build that strategy.”

Lakhani-Batt agreed, saying “You have to have the mindset that IT is a necessity and not a luxury. You need to (partner with) a company that has the ability, knowledge and training.”

Added King, “Leaders who look at IT as a value proposition are going to benefit. Those who look at IT as an expense, won’t.”

The Stories of Life's Challenges

By Christopher Reardon

The power of storytelling was on full display at the winter luncheon of the Women in Business program of the Morris County Chamber of Commerce as three authors gathered for a panel discussion about their respective books and the journeys that took them there.

The luncheon featured Lynn Malzone Ierardi, gift planner at the University of Pennsylvania and author of “Storytelling: The Secret Sauce of Fundraising Success”; Jaime Pula, chief wellness officer at Art of Health Sciences and author of “Rise Above: A Playbook On How-To Keep Energy Flowing”; and Clelia Pergola, chief operating officer at NJ Elder Law Center at Goldberg Law Group and author of “Life, Lessons & Legacy: How Caring For My Grandmother Changed My World.”

The panel discussion – titled “Turning Challenges into Triumphs” – was moderated by Mary Jo DeFranco, creative consultant at Metrographics, and was held at the Westin Governor Morris in Morristown.

A life challenge was the impetus for each of the writers. For Malzone Ierardi it was the death of her brother just 21 days after he learned he had cancer.

“I was devastated,” she said. “As I prepared his elegy it was important to me to tell people who he was…I realized the most impactful way to do that was to tell stories about him.”

She shared the story of how their niece was selling Girl Scout cookies and had a goal of selling 100 boxes and how her brother bought all 100, then shared them with the homeless.

“Over the next year I made the connection of storytelling and my personal life and business life,” she said. “When I’m talking to a donor I ask them, what is the legacy they want to share? When we tell stories about people, that’s their legacy.”

For Pergola, the life challenge was caring for her grandmother after she had an embolism. It happened the day Pergola moved away from home and she spent many hours in the hospital Intensive Care Unit tending to her.

“(The book) was to tell my story and help people through similar experiences,” she said. “Taking care of my grandmother every day brought me closer to her.”

Pergola practices law in the eldercare sector and she has a great appreciation of senior citizens and what they have to offer.

“If I can give you one piece of advice, it’s listen to the seniors in your life,” she said. “They are experienced. They’ve lived through things….Listen to their stories because that’s what they want to share.”

For Pula the impetus for her book was the death of her father from Delta COVID at the same time her mother was deathly ill. She watched both parents deteriorate and because Delta COVID does not present symptoms, Pula did not know what was causing her father’s suffering.

Later Pula started journaling to help her grieve and a friend encouraged her to write a book.

“If there is one message I want to share today it is to trust,” she said. “When you’re on that road you can choose to be angry and sad or you can instead choose trust.”

She added later, “You need to schedule some healing time and you need it to be substantial…It’s about taking care of your inner self…It brings you so much joy and acceptance of who you are.”

DeFranco asked each author what advice they would give to someone contemplating writing a book.

“Start,” said Malzone Ierardi. “Sit down and write an outline…(Then) take it in chunks.”

Said Pula, “Have a great team of publishers to guide you…Get big, get bold.”

Added Pergola, “Make sure you’re passionate about it. You’ll want to carry on.”

The luncheon also featured presentation of the TD Bank Woman of Achievement Award to Casey Carpenter, CEO and founder of Speak & Own It Communications. In addition to her success as a business owner and guide for her clients, Carpenter is very active volunteering in the nonprofit sector. Carpenter thanked those in the audience who helped her through difficult times.

“My big, healthy, audacious goal is to reach one million women leaders globally and impact their leadership communications so that they show up fully and communicate with empathy,” she said.

LEADERSHIP

#ONETEAM: A REFLECTION ON 2022 AND PERSPECTIVE FOR 2023

As I sit in front of my computer today, it’s hard for me to grasp how different things were one year ago.

When I joined the Morris County Economic Development Corporation (MCEDC), a division of the Morris County Chamber of Commerce, in January 2022 I had a singular role focused on the MCEDC. Since then, my role has evolved into serving as president of both our 501c3, the Morris County Economic Development Alliance, and our Tourism Division. The evolution continues, however, and I am confident we will continue to be innovative and successful in 2023.

In 2022 our Team’s accomplishments were astounding. Working in coordination with the County of Morris, we reached thousands of businesses through the Morris County Small Business Grant program. We built a strong strategic partnership with the New Jersey Small Business Development Centers (NJSBDC), which resulted in a robust partnership with the NJSBDC at Fairleigh Dickinson University, and now, the first Regional FAST Center in the State of New Jersey.

Our 501c3, the Morris County Economic Development Alliance (MCEDA), expanded by leaps and bounds. With the acquisition of the Morris County Tourism Bureau in March 2022, we drastically expanded our marketing reach and services, successfully conducted a TEDx event and our new Film Committee has already made an impact supporting major events, such as First Night Morris County.

As exciting as all these accomplishments are, none of them would have been possible without the outstanding and talented Team with which I have the honor and privilege to work.

Our Team goes far beyond employees. We have outstanding partners in both the private and public sectors, great supporters, members and volunteers and strong boards made up of fantastic individuals. I cannot thank the chamber board and our MCEDA board enough for all their support. They are simply amazing.

When I reflect on this incredible Team, a conversation I had with Ed Ramirez, our director of business resources at MCEDC and executive director of LEAD Morris, comes to mind. Throughout the past year, Ed has been an invaluable member of the senior leadership team and a trusted advisor. In our Microsoft Teams channel, Ed routinely ended messages with “#OneTeam.” One day, I asked Ed what he meant by that. He explained to me that #OneTeam represents a group of individuals coming together as a united team to achieve a common goal, joining forces to move the organization forward.

In a leadership role, we look to make a positive impact, drive our organization forward, and lead by example. However, it is another matter altogether when the transformation goes beyond you. For a leader to see a unified and focused team, especially during a time of transition, it is moving, and it evokes a sense of “we’re doing something right.”

Looking back, I can say that 2022 was an amazing year. Looking ahead for 2023, I could not be prouder of the outstanding team I work with and we look forward to sharing more with you in the months ahead.

Special thanks to Ed, Michelle, Noelle, Samantha, Danielle, Meghan and Chris for their assistance with this article. #OneTeam

Craig Schlosser

Managing Director, MCEDCorporation

President, MCEDAlliance