The statehouse in Trenton – file photo
By Joshua Burd
The state Economic Development Authority has approved the installation of its next CEO, who comes with a mandate of fostering growth for small and innovative businesses in New Jersey.
The authority on Tuesday voted to approve Tim Sullivan, who is leaving a post as deputy commissioner of the Connecticut Department of Economic and Community Development. The Bergen County native will start on Feb. 20, just a few weeks after Gov. Phil Murphy selected him to lead the EDA.
“As a highly regarded professional with an established record of achievement in economic development, Tim Sullivan’s depth of experience and knowledge will help ensure we are able to strengthen and grow New Jersey’s economy to benefit all residents and businesses,” Murphy said in a prepared statement Tuesday. “Tim will be a tremendous asset to the state and I applaud the EDA board’s decision to appoint him as the authority’s new chief executive officer.”
In Connecticut, Sullivan oversaw state tourism and branding, brownfield redevelopment, transit-oriented development and waterfront initiatives, according to a news release. He joined the Department of Economic and Community Development in January 2014 as director of brownfield, waterfront, and transit-oriented development and became deputy commissioner in 2015.
Sullivan previously served as chief of staff to the New York City deputy mayor for economic development under the Michael Bloomberg administration. The position included a focus on transportation and transit-oriented development, brownfield redevelopment, waterfront and maritime/port redevelopment and public and affordable housing policy, among other areas.
Murphy, who has been in office for less than a month, has discussed using the EDA and its powerful incentives to be more helpful to small businesses and be less skewed toward large corporations. Sullivan’s role as CEO, calls for him to oversee the EDA’s strategic direction, lead policy and governance initiatives and serve as the principal representative of the authority throughout the state.
“Returning to my home state of New Jersey to join the Murphy administration and lead the EDA is an honor,” Sullivan said. “With Governor Murphy’s clear vision of building a stronger and fairer economy, and an experienced team of professionals in place, I am excited to join the EDA at this pivotal time and strengthen our focus on supporting the growth of small, innovative businesses and thriving communities.”
Prior to joining the Bloomberg administration in 2010, Sullivan worked at Barclays Capital as chief of staff to the head of global investment banking. He began his career in investment banking at Lehman Bros. in 2003 as a health care banker, focusing on mergers and acquisitions and capital markets transactions for leading companies in the managed care, biotechnology and health care services sectors.
Sullivan is a graduate of Georgetown University.
“We are delighted to welcome Tim Sullivan to the EDA,” EDA Board Chairman Thomas P. Scrivo said. “We look forward to working with him as we continue EDA’s longstanding tradition of supporting business growth in New Jersey.”