Larry Downes is Down and Out From EDA

Governor Murphy has requested resignations of all the gubernatorial appointees to the Economic Development Authority, effective immediately. Murphy accepted the resignation of Laurence M. Downes, the CEO of New Jersey Resources Corp, who currently serves as a board member and chairman of the EDA.

“It’s good news that Larry Downes will be resigning from the EDA. Downes is the chair of NJNG, who is a partner of PennEast and responsible for the SRL pipeline. Downes also owns the Adelphia Line in Pennsylvania that can also bring gas to New Jersey. Many people who are fighting pipelines thought he was a conflict of interest because as head of the EDA, he can give grants to projects to use natural gas or in the service areas near proposed pipelines. For example, Downes could have given a grant to a giant industrial park near the propose SRL line. This would benefit the service area and utility company. When Governor Murphy signed the sellout nuclear subsidy law, it was on Downes solar farm,” said Jeff Tittel, Director of the New Jersey Sierra Club. “EDA, or Every Developers ATM, wasted $11 billion of New Jersey taxpayer money on projects that were not needed such as the Xanadu Mall and Prudential’s 4 block move. Now that Larry is Downes and Out, the Governor Murphy should put a stay on the SRL pipeline.”