The New Jersey Business & Industry Association (NJBIA) on December 13 presented Governor Richard J. Codey with its 2005 Paul L. Troast Award for his outstanding performance as Acting Governor. The Troast Award is presented annually to a public servant who has made an outstanding contribution to the State of New Jersey and its business community.

The Award was presented by NJBIA President Philip Kirschner

and John Troast, chairman of the Troast Company and Paul Troast's son, during the Association's 2005 Public Policy Forum, which was held at the Sheraton at Woodbridge Place in Iselin.

“As Governor, Dick Codey has left his mark,” Kirschner said. “He has been universally praised for his performance. He has brought leadership and integrity to the office of Governor at a time when it was sorely needed. He connected with the public in a way few people in public office do. And he leads by fighting for what he thinks is right.”

Under Governor Codey's leadership, New Jersey balanced its budget without any broad-based tax increases. State spending was finally brought under some control. Codey proposed a budget that actually spent less than the year before. And Codey created a special task force specifically to confront the contentious problem of a public employee benefit system whose costs are out of control.

Paul Troast was a founder of the highly successful Troast Construction Company and served as chairman of the board of NJBIA and its affiliate, the New Jersey Manufacturers Insurance Co., from 1963 until his death in 1972. He made so many contributions to New Jersey and its business community that Governor Richard Hughes called him "Mr. New Jersey.”