By Joshua Burd
Gov. Phil Murphy has picked New Jersey Resources Chairman and CEO Laurence M. Downes as board chairman of the state Economic Development Authority.
Downes, who joined the EDA board in 2010, has served as its vice chair since 2016. His new role comes as the authority also prepares to welcome its next CEO, Tim Sullivan, who was selected by Murphy last month and approved by the board earlier this week.
“I am honored that Governor Murphy has selected me to serve as chairman of the EDA and I look forward to helping advance his vision for a stronger and fairer economy,” Downes said. “The EDA is staffed by a professional and dedicated group of individuals and I am pleased to have the opportunity to continue our efforts to create jobs and revitalize communities across the state.”
Downes is the longtime leader of Wall-based New Jersey Resources and its main subsidiary, New Jersey Natural Gas. He joined the company in March 1985 and has served as CEO since July 1995.
He is also a director and past chairman of the American Gas Association and the Natural Gas Council, as well as a trustee of the American Gas Foundation, according to an EDA news release. Downes chairs the John J. Heldrich Center for Workforce Development’s National Advisory Board at Rutgers University and serves as a board member of the Drumthwacket Foundation and Choose New Jersey.
“I applaud the governor’s decision to designate Larry Downes as the EDA Board’s new Chairman,” said Sullivan, who will join the EDA as CEO on Feb. 20. “With a long and distinguished professional and public service career, including eight years on the EDA board, Larry’s knowledge and insight will be indispensable as we work to grow New Jersey’s economy.”
