TRENTON, N.J. (AP) — New Jersey Gov. Phil Murphy is appointing a fellow Goldman Sachs alum to chair the board of the Economic Development Authority.
Murphy, a Democrat, announced Friday that he’s naming Kevin Quinn to succeed Laurence Downes. The EDA oversees New Jersey’s business tax incentive program, which Murphy has sought to overhaul.
Downes joined the EDA board in 2010 under Republican Gov. Chris Christie in 2010.
Murphy appointed Downes to be chairman in 2018 but sought his resignation this year amid the attempts to overhaul business tax credits, which expire June 30.
Murphy worked for two decades at Goldman Sachs, leading operations in Frankfurt, Germany, and Hong Kong. He retired in 2003.
Quinn worked at Goldman for two decades as well, leaving in 2012.