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New Jersey Economic Development Guide is published annually by Journal c ommunications i nc. and is distributed through the New Jersey Partnership for Action. For advertising information or to direct questions or comments about the magazine, contact Journal c ommunications i nc. at (615) 771-0080 or by email at info@jnlcom.com. for morE InformatIon, contact:
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v i S it New Jersey e co N omic Developme N t Gui D e onlin E at bu S in ESS climat E .com/n EW -j E r SE y
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2013 Edition, volum E 2
Overview new Jersey makes it Easier for business to Do business
From metropolitan locations with port access to pastoral sites with vast open space, the Garden State offers an abundance of opportunity for residents, visitors and businesses. our workforce is among the best educated and our diverse range of industries makes New Jersey a destination for all business sectors. With a variety of recreational activities, miles of sandy beaches and an array of cultural experiences, it is no surprise that Forbes ranked New Jersey fifth-best in the u nited States for quality of life.
From day one of our Administration, we embarked on an ambitious course to leverage these vital resources and remove the roadblocks that have historically stifled job creation, private investment and innovation in New Jersey.
We established a permanent Red tape Review c ommission to reduce the bureaucracy that strangles economic growth and imposes costs on business and residents; we made significant strides to transform our notoriously poor tax climate; and we created the New Jersey Partnership
for Action to attract new business and help existing business thrive by zeroing in on relationship building and person-to-person outreach, promoting state incentives and resources, developing progrowth policies, and assisting businesses in navigating state government and programs.
With a focus on cultivating a more business-friendly environment and redefining New Jersey in the marketplace, the results of our efforts thus far are unmistakable. Businesses like i ntrasphere technologies and c atapult learning are relocating to our State.
Global companies like Fluitec international are deciding to set up shop in New Jersey to expand their reach in the u .S. market.
o ther businesses, like Watson Pharmaceuticals, are expanding, and Fortune 500 companies –from c oca c ola e nterprises to h oneywell i nternational – are also planning to remain and grow in New Jersey.
t hese companies are witnessing a new reality in the Garden State, one that is supported by New Jersey’s unique advantages and bolstered by our continuous, concerted efforts to make New Jersey a home for growth.
When choosing where to grow your business, we hope you will agree that New Jersey is the ideal location to live, work and play.
c hris c hristie, Governor
kim Guadagno, lt. Governor
SwImmIn G In SE a LIfE
A centerpiece of waterfront development efforts in c amden is the Adventure Aquarium, the fifth-largest aquarium in the nation.
bE ttIn G bIG
Following a successful soft launch in April 2012, Revel in Atlantic c ity formally opened in May, a $2.4 billion investment that includes a hotel, casino and theater as well as 10 swimming pools, 14 restaurants, three clubs, 46 shops and a 28,000-square-foot spa. At 47 stories, the 1,300-room Revel is the tallest structure in Atlantic c ity and the second-tallest in New Jersey.
t he casino features more than 2,500 slot machines and 120 table games. Revel’s 5,050-seat theater gives patrons exciting live entertainment from performers such as Maroon Five, Seal and kid Rock, to name a few. l earn more at www.revelresorts.com
t he 200,000-square-foot attraction includes 8,500 creatures housed in 2 million gallons of water. i t is the only aquarium in the world to exhibit hippopotamuses, and one of only two aquariums in the country exhibiting the h ammerhead shark.
Adventure Aquarium is just one of a handful of venues that offers opportunities to touch aquatic creatures including stingrays and sharks. t hese hands-on exhibits give Adventure its reputation as “America’s Most touchable Aquarium.” v isit www.adventureaquarium.com for more information.
combat b oot S to buSInESS SuIt S
When the Army announced in 2005 that it would close Fort Monmouth, following the federal Base Realignment and c losure c ommission’s recommendation, it opened the door for a tremendous opportunity for the region.
When the installation officially closed in September 2011, it opened more than 1,100 acres in o ceanport, e atontown and t inton Falls for other uses. l ed by the Fort Monmouth economic Revitalization Authority, redevelopment efforts are focused on attracting investors, developers and employers to the property to spur private investment and create a diverse range of jobs.
c ommvault, a data and information management software firm, plans to build its world headquarters on a 55-acre site at Fort Monmouth. For more information, visit www.fortmonmouthredevelopment.com
rE aL E S tatE PromISES
rE aL rE vE nuE
New Brunswick is the site of two major developments that together represent an investment of more than $250 million.
t he Gateway will be a mixed-use property standing 295 feet above New Brunswick’s train station, and will become the city’s tallest building. o nce completed, it will include a structured parking facility, 50,000 square feet of office space, 65,000 square feet of retail space and a 16-story residential tower with 150 apartments and 42 condominiums.
t he Wellness Plaza will be a hub of fitness-oriented retailers and activities near t he Gateway, and will include a 1,200-car parking garage, supermarket, and fitness and aquatic center operated by Robert Wood Johnson university h ospital.
tHE cHamPIon’S nE w HomE
o pened in April 2010, the New Meadowlands Stadium replaced the former Giants’ Stadium, which had been home to football’s New york Giants since 1976. i t became known officially as Met l ife Stadium after the insurance company acquired naming rights in 2011.
Met l ife Stadium is home to both the New york Jets and Super Bowl champion Giants, making it the only National Football l eague stadium shared by two teams. i ts construction cost of $1.6 billion made it the most expensive NFl stadium ever built.
t his unique facility will host Super Bowl xlviii in 2014 as well as WrestleMania xxix in April, 2013. t hese premier events as well as NF l games will draw hundreds of thousands of patrons to the numerous area retailers that surround and support the stadium. For additional information, go to www.metlifestadium.com
tHE SK y’S tHE LImIt
Jersey c ity is home to several skyscrapers that impress and inspire.
Goldman Sachs tower was built in 2004 and, at 781 feet, is the tallest building in New Jersey and the 54th-tallest in the united States. c onstructed in 2008, trump Plaza Residences is 532 feet tall and contains 445 residential units on 55 floors, yielding more than 1.74 million square feet of living space. trump Plaza Residences is the tallest residential building in New Jersey.
Adding to the Jersey c ity skyline are Monaco North and Monaco South, two residential buildings totaling nearly 525 units. t he 50-story towers offer such amenities as a health and fitness center, a heated outdoor swimming pool, comprehensive business center and 24-hour valet and concierge services. Find more information at www.monacojc.com .
a HIS tory of SE rvIcE
in addition to being the Garden State’s capital, trenton is home to an American landmark that predates the creation of the nation.
t he o ld Barracks is historically significant as the only standing barracks in the united States that once housed soldiers in the French and indian War, fought between 1754 and 1763. d uring the Revolutionary War, the Barracks served George Washington and his forces in the c olonists’ victory over h essian mercenaries fighting for Britain.
today, the Barracks regularly invites 20,000 school children to step back in time and learn about the conditions and importance of the c olonists’ way of life, making the Barracks one of the most visited sites in New Jersey. See more at www.barracks.org
tHE y DID It fIr S t
i t is a state with its eyes set square on the future, but New Jersey’s past provides a number of major innovations and “firsts” in the nation.
you might know that the world’s first boardwalk was built in 1870 at Atlantic c ity and the first movie, phonograph and incandescent light were developed by t homas A. edison in New Jersey.
But edison was not alone in pioneering products in the state. t he first solid body electric guitar was invented by l es Paul of Mahwah in 1940.
According to the About NJ page on the state’s nj.gov website, New Jersey enjoys a whole range of firsts - from the first drive-in theater (built in c amden in 1933) to the first submarine (built in 1878 in Passaic c ounty) to the first first live radio broadcast of a World Series (on W iz in Newark in 1921.)
SLIGHtLy aHE aD of It S tImE
A famed electronics company is making a major commitment to New Jersey.
Panasonic c orporation of North America will open its new North American headquarters in Newark by 2013. t he move to a new state-of-the-art, 12-story building under construction in downtown Newark will keep 800 jobs in New Jersey and create 200 new ones.
Panasonic is offering employees trips to Newark to help them become familiar with its attractions, including restaurants, parks and the New Jersey Performing Arts c enter, to name a few. v isit www.panasonic.com for more information.
Highly Educated, Perfectly Located New Jersey creates a
winning formula for growth
Story by John McBryde
though its nickname as the Garden State refers to its roots in agriculture and food production, New Jersey blossoms with innovation, opportunity and promise.
The state’s recipe for growth blends a set of powerful ingredients, including a highly educated workforce, major transportation and logistics advantages, a diverse and innovative industry mix, and a government that is committed to making it easier for companies to do business in the state.
Those efforts are bearing fruit.
The Garden State’s $487 billion highly diverse economy is anchored by major concentrations in financial services, advanced manufacturing, and logistics and breakthrough industries, including biopharmaceuticals, life
the sun sets over the downtown Newark skyline. Many companies have regional headquarters in Newark.
Photography by Jeff Adkins
sciences, information technology and renewable energy, where the state has earned a global reputation.
New Jersey is a highly desirable corporate address, home base for 21 companies on the 2012 Fortune 500 and major operations from a roster of globally known companies such as Bank of America, Verizon, L’Oreal USA and Stryker Orthopaedics.
tHE rIGHt connEctIonS
The state’s sophisticated and fully integrated transportation infrastructure makes it a logistical leader and focal point for international commerce. More than 130 million consumers live within a day’s drive of New Jersey, and its port assets include the busiest maritime cargo center on the East Coast. A survey by Area Development magazine of site location consultants put the state third for highway and rail accessibility on the 2012 Top States for Doing Business rankings.
New Jersey’s logistics advantages and world-class shipping facilities have cemented the state’s reputation as an export leader. More than $38.1 billion in goods were shipped from the state in 2011, up more than 18.5 percent from the previous year.
The state is a major exporter of chemicals, petroleum products, computers and electronics, and transportation equipment, among others. According to the Organization for International Investment, New Jersey ranks
seventh among states in the number of jobs at U.S. subsidiaries of global companies – more than 223,000 jobs in total or nearly 7 percent of the state’s private-sector workforce.
PowE rED by KnowLEDGE
One of the state’s key strengths is in the skill and education of its workforce, owing in no small part to the high quality of its 63 public and private colleges and universities. New Jersey ranks fifth among states in educational attainment, with more than 34 percent of adults over age 25 holding a bachelor’s degree or higher. CNBC ranked the state No. 4 for quality of education on its 2012 America’s Top States for Business rankings.
New Jersey claims 184,000 workers in science-related professions and the highest concentration of scientists and engineers in the world. It ranks first among states in the employment of chemists, second for biochemists and third for microbiologists. The life sciences and biopharmaceutical sector alone employs more than 125,000 people in the state and numbers 17 of the world’s 20 largest biopharmaceutical companies including Merck, Johnson & Johnson and Bristol-Myers Squibb.
buSInESS -frIEnDLy cLImatE
The positive economic momentum has not been by accident.
Medco health Solutions, Franklin l akes (33)
Johnson & Johnson, New Brunswick (42)
Prudential Financial, Newark (55)
Merck, Whitehouse Station (57)
honeywell international, Morris township (77)
toys “R” us, Wayne (194)
chubb, Warren (202)
Public Service enterprise Group, Newark (24)
Automatic data Processing, Roseland (269)
NRG energy, Princeton (284)
Bed Bath & Beyond, union (294)
Under the leadership of Governor Chris Christie, the state has created a coordinated and highly focused effort to promote investment and jobs. Since the governor took office in 2010, New Jersey has added nearly 85,000 new private-sector jobs. In 2011, the state posted its best private sector job growth year in more than a decade, according to Rutgers University research.
The New Jersey Partnership for Action, led by Lt. Governor Kim Guadagno, consists of three highly focused organizational elements –the New Jersey Business Action Center, the New Jersey Economic Development Authority and Choose New Jersey – that attract new business investment and link companies to incentive programs.
Among its efforts to stimulate business expansion, the Christie Administration has awarded $1.7 billion in tax incentives for companies across a variety of industries to create and retain jobs in the state, and raised its research and development tax credit program from 50 percent to 100 percent.
It is that type of commitment that was recognized in 2012 by national site selection trade publication Business Facilities , which awarded its inaugural Achievement in Reorganization of Economic Development Award to the Partnership for Action in recognition of the scope of its
Great Atlantic & Pacific tea, Montvale
Becton dickinson, Franklin l akes (333)
c ampbell Soup, c amden (334)
quest diagnostics, Madison (341)
c ognizant technology Solutions, teaneck (398)
Avis Budget Group, Parsippany (418)
Sealed Air, elmwood Park (433) Avaya, Basking Ridge (442)
c elgene, Summit (492)
hertz Global holdings, Park Ridge (309)
(317)
New Jersey Fortu N e 500 Compa N ies (overall ra N ki N g)
economic development reorganization initiative.
“Business Facilities continues to be impressed with this reorganization’s focus on a steady improvement of the state’s business climate. We believe the Partnership for Action now has the plan and structure in place to move New Jersey into the top rank of national economic development leaders,” says Jack Rogers, Business Facilities editorin-chief. “The change has been dramatic and effective.”
Business Facilities also noted the state’s strengths in such areas as biotechnology in its 2012 Best States rankings, placing it at the top in such categories as biotechnology strength and workforce health and safety.
“This ranking confirms that the Christie Administration’s pro-business policies, along with New Jersey’s highly educated workforce, are successfully working to restore the Garden State’s reputation as a prime location for companies to invest and grow,” Lt. Gov. Guadagno says. “Businesses around the state and the nation are taking note that the New Jersey Comeback is indeed underway.”
High Praise
• highest concentration of professionals in sciencerelated fields, according to BioNJ talent Resource handbook 2011
• No. 1 state for biotechnology strength, specialization leaders, Business Facilities magazine, July/August 2012
• No. 1 state for broadband telecommunications and No. 2 state for information technology jobs, kauffman Foundation & information technology and innovation
Foundation, 2010 State New economy index
• No. 1 state in workforce health and safety, Business Facilities magazine, July/August 2011
• No. 2 state for installed solar power capacity, Business Facilities magazine, July/August 2012
• No. 4 state for entrepreneurship, university of Nebraska- lincoln Bureau of Business Research, July 2011
• No. 4 state for education, cNBc’s 2012 Best States for Business
N ew J ersey orga N izatio N s ack N owledged for top- N otch eco N omic developme N t efforts
Business Facilities magazine awarded the New Jersey Partnership for Action its Achievement in Reorganization of economic development Award in 2012. the awards program honors agencies and organizations that have established and executed the best practices in economic development. the Partnership for Action includes three entities – the New Jersey Business Action c enter, the New Jersey economic d evelopment
Authority and choose New Jersey – that focus on economic development services, linking companies to incentive programs and attracting international investment. the magazine cited Gov. chris christie’s comprehensive reorganizations of statewide economic development and the Partnership for Action’s “focus on a steady improvement of the state’s business climate.” t he magazine also awarded the New Jersey
economic development Authority its Achievement in targeted incentives Award, citing the urban transit hub tax c redit program as a growth driver for the state’s urban centers. Newark’s Brick city d evelopment c orporation won the Achievement in d owntown Revitalization Award. “Newark, NJ is undergoing a renaissance that is transforming its downtown into a model of 21st century urban development,” Business Facilities noted.
t he New Jersey a dva N tage
t he right formula
New Jersey creates winning environment for life sciences and biopharma
Story by Melanie Hill
new Jersey is a life sciences powerhouse. A global destination for all things medical, the Garden State boasts more than 3,100 pharmaceutical, medical technology and life science companies including 17 of the world’s 20 largest pharmaceutical leaders. The $24 billion industry is the state’s largest, with exports totaling more than $4.8 billion annually.
PowE rfuL formuL a
The draw? Access, innovation and jobs, according to Dean Paranicas, president and chief executive officer of the HealthCare Institute of New Jersey (HINJ). More than 125
years ago, Johnson & Johnson laid the foundation for an unparalleled life sciences cluster, quickly built on by George Merck, E.J. Squibb and other industry pioneers.
“Innovation is the lifeblood of New Jersey,” Paranicas says. “The state has a rich mix of large and small companies across biotech, pharmaceutical and research bases that produce the vibrant cluster we have today.”
taLE nt, SuPP ort, nE tworKS
New Jersey’s more than 125,000 biopharmaceutical and life science professionals, who earn an average annual salary of $111,000 and fuel the world’s most sophisticated industry. Companies also are
drawn to the state’s specialized life sciences vendor network, which generates approximately $8.8 billion in supplier spending each year.
Another lure is the cultural diversity of the state and support of organizations such as BioNJ and HINJ, which provide industry support and advocacy statewide.
“We are the voice of researchbased pharmaceutical and medical technology companies in New Jersey,” Paranicas says. “We represent companies, advocate and inform policy makers about the kind of environment New Jersey needs to flourish.”
And flourishing it is. New and relocating companies have grown the state’s life science sector by 16 percent since 2004.
GrowInG In nE w JE rSE y
Summit, N.J., serves as the U.S. corporate headquarters for global biopharmaceutical company Celgene Corp., while Botox maker Allergan has recently opened a new $12 million research and development facility in Bridgewater.
In 2011, Bayer HealthCare announced consolidation of its East Coast operations at the former Alcatel-Lucent campus in Whippany, which will bring with it some 2,500 workers. The first moves are expected to begin in late 2013. Likewise, Novartis is consolidating four facilities into a new 310,000-square-foot complex in East Hanover.
Generics and brand anufacturer Watson Pharmaceuticals began relocation from the West Coast to Parsippany in 2011. In 2012 the company announced plans for a global research and development facility in North Brunswick.
Located in the New Jersey Economic Development Authority’s Technology Centre of New Jersey, the 32,000-square-foot facility represents an initial investment of approximately $4.5 million. It will focus on generic products that are difficult to develop and manufacture.
In April 2012, the company also announced acquisition of Swiss
from top: dean Paranicas, president and ceo of the healthc are institute of New Jersey; New Jersey is home to 17 of the world’s largest pharmaceutical leaders.
generics manufacturer Actavis Group. The buyout will make Watson the third-largest generics producer in the world.
Spokesperson Charlie Mayr says state support has been instrumental in Watson’s relocation and expansion.
“We’ve been working with the New Jersey Partnership for Action for almost two years, and have been very pleased with the probusiness climate here,” Mayr says. “The state has been extraordinarily helpful in identifying partnerships
and helping to find sites that allow us to build today with expansion possibilities for the future. They recognize the needs of businesses and what New Jersey has to offer.”
At the Technology Centre, Watson is joined by such companies as Merial Ltd., a joint venture of Merck & Co. and Aventis S.A. that develops and manufactures innovative pharmaceuticals and vaccines used in animal health.
Paranicas says state support makes New Jersey a leading
New Jersey’s innovative technology Business tax c ertificate transfer Program supports growing tech and biotech companies. Gov. chris christie’s fiscal year 2012 budget increased funds by $30 million over the 2011 allocation. the program enables companies to sell New Jersey tax losses and/or R&d tax credits to raise cash
contender for many companies looking to relocate. Changes to corporate business income tax structure in New Jersey mean companies aren’t penalized for growth, while significant progress has been made in streamlining regulatory structure. Work on a research and development tax credit also is underway.
“A lot of important work has been started, and we look forward to working with the governor and legislature to continue advancement,” Paranicas says.
to finance their growth and operations. Since the program was established in 1999, more than 1,530 applicants have been approved for $630 million. t he 75 applicants approved in 2011 were estimated to receive, on average, approximately $800,000, more than double the 2010 average.
Jump-starti N g Fi N a NC i N g
above: Novartis Pharmaceuticals c orp. in e ast hanover right: Watson Pharmaceuticals is headquartered in Parsippany.
l i F e s C ie NC es by the N umbers
3,100 Life sciences and biopharma establishments in n ew Jersey
126,000 workers in the life sciences and biopharma cluster
$14b
$111,406
Source: NJ Department of Labor and Workforce Development
Industrial Strength
l ocation advantages, state programs fuel a resurgence in manufacturing
Story by John Fuller
with the help of aggressive retention programs and training assistance, New Jersey’s manufacturing sector is bulking up.
The Garden State was home to more than 20,000 manufacturers and 247,000 manufacturing jobs at the end of 2011. Manufacturing contributed more than $38 billion to the state’s $426.7 billion Gross Domestic Product in 2011. The state’s advanced manufacturing cluster, which includes chemical, pharmaceutical manufacturing, computers and electronics, machinery, and transportation equipment industries, employs more than 127,000 workers.
In addition to its well-known roster of pharmaceutical companies, the state is home to major operations of such manufacturers as Lockheed Martin, BASF, Honeywell and Unilever.
247,000
total
And with well-known names like Campbell Soup, Pinnacle Foods, Kraft, Mars and Ferraro Foods, New Jersey is also a major food production and processing center.
LocatIon, SKILLS aDvantaGE
Several competitive advantages make manufacturing attractive in New Jersey. The state’s location on the Eastern Seaboard provides access to more than 100 million consumers within a 24-hour drive, and its world-class distribution network of highways, seaports and airports moves goods to markets around the continent and the world.
In 2011, exports from New Jersey totaled $38.1 billion, up more than 18 percent from 2010, ranging from chemicals to aircraft parts to pharmaceutical products.
20,000 m anufacturing operations
$38.1 b
Employees manufacture hats for the U.S. Coast Guard at Unionwear’s Newark facility.
Je FF Adki NS
A key advantage for New Jersey is its highly skilled workforce, says Robert Loderstedt, president and CEO of the New Jersey Manufacturing Extension Program (NJMEP), a not-for-profit organization that helps small and medium-size manufacturers become more efficient and profitable.
“The level of education among our manufacturing workforce is a great advantage,” Loderstedt says. “We are making great strides in showing young people that there are real careers with good-paying jobs in manufacturing in New Jersey.”
crE atInG SuccESS S torIES
Through a number of incentive packages, New Jersey has also been able to attract new companies and assist existing businesses with expansions. Recent successes include: Puratos Corp., which makes ingredients for
bakeries, patisseries and chocolate makers, is building a $42 million manufacturing facility in Pennsauken. The new 171,000-square-foot, energy-efficient facility will employ about 190 workers and permit the company to better serve its customers across the country. A joint state, county and township effort was largely responsible for keeping Puratos in New Jersey, according to company officials.
Church & Dwight, a maker of household products, including the iconic Arm & Hammer baking soda, has chosen a site in Ewing Township for a new headquarters. The state assisted with a $13.5 million business retention grant that helped keep the company in New Jersey. With the incentive, the company will invest more than $27 million in its expanded operations and add 130 new employees.
PNY Technologies, a worldwide maker of memory upgrade modules and flash memory cards,
above: PN y technologies’ headquarters in Parsippany top right: kraft Foods New Jersey operations include locations in Fair l awn, Parsippany and other cities. bottom right: lockheed Martin is one New Jersey’s largest manufacturing employers.
Je FF Adki NS
relocated its headquarters to a 550,000-square-foot facility in Parsippany and added 100 jobs to its 325-person workforce.
Revolution Foods, which delivers healthy meals and nutrition education to schools across the country, wanted to expand into the Northeast and was considering New Jersey and two other states to establish its regional operations. Working with the state and officials in Elizabeth, Revolution selected a 25,000-square-foot facility with all the amenities it sought.
Lisa K. Miller, regional vice president for Revolution Foods, says the move was a positive experience for the company, which serves nearly 9,000 meals to 16 schools in New Jersey and four in New York.
“This is an ideal location, close to the highways, so we can reach the schools we serve,” Miller says.
Miller noted the cooperation from state and
the city agencies and the assistance it received from nearby Union County College in helping to identify qualified workers through its Retail Skills Center. The company plans to expand to serve schools in Philadelphia and Albany, N.Y., in the near future. It employs 39 workers, and expects to have 85 to 90 employees in 2013.
booS tInG ProfIt S
The state’s manufacturers can take advantage of other programs to help them become more efficient and profitable.
The New Jersey Manufacturing Extension Program works with manufacturing companies on cost-saving strategies and growth initiatives, such as LEAN manufacturing and other business processes.
“Small manufacturers are really the backbone
of the manufacturing supply chain,” Loderstedt says.
In New Jersey, 83 percent of manufacturers employ 50 or fewer workers, making services such as the NJMEP a vital component in their success.
Unionwear in Newark took advantage of an NJMEP evaluation of its operations, which led to the company’s participation
in a LEAN manufacturing program that helped increase revenue by $750,000, cut $1.2 million in costs and created 25 jobs.
The company makes unionlabel apparel including hats, shirts and other embroidered apparel and accessories promoted to unions, political campaigns, government agencies and socially responsible organizations.
Working with the NJMEP helped Unionwear be more efficient and reduce its manufacturing interval time.
“NJMEP has been excellent to work with,” says Mitch Cahn, president of Unionwear. “This training program has significantly transformed our business into a more profitable and competitive business.”
r utgers Food iNN ovatio N Ce N ter
Food processing and production is a major manufacturing sector in New Jersey. Assisting the industry is the Rutgers Food innovation c enter, based in Bridgeton. the center features a unique business incubation and economic development accelerator program that provides business and technology expertise to startup and established food companies in the mid-Atlantic region. the center, which combines its resources with Rutgers university and other strategic partners throughout
the nation, provides assistance in such areas as business development, market research, product and process development, and workforce development. Recognized internationally for its work, the center’s clients include farmers and cooperatives working to create new businesses, startup food companies, existing small and mid-size food companies seeking to access new technologies, and retail and food service establishments seeking to improve their operations and purchase locally grown New Jersey products.
Mitch c ahn is president of unionwear, a Newark-based apparel manufacturer. Je
New Jersey Clean Energy Resource Network
New Jersey: A Leader in Clean Energy Innovation and Business Opportunities
The New Jersey Clean Energy Resource Network (NJCERN) Database is an easy-to-navigate Web-based guide that provides users more than 300 links to state, federal and private resources including clean energy/energy efficiency incentives, financing opportunities, incubator programs and business development assistance, regulations, training, and permitting information. It’s a “one-stop-shop” for your clean energy business needs.
The New Jersey Clean Energy Resource Network is an initiative of the Rutgers EcoComplex and the New Jersey Meadowlands Commission, in collaboration with New Jersey’s network of business incubators, state agencies and other organizations.
Funded by the New Jersey Board of Public Utilities and the Rutgers New Jersey Agricultural Experiment Station.
Fidelity Investments picked Jersey City for a major expansion of its operations.
wealth of talent
a sophisticated workforce helps financial services bloom in garden s tate
Story by Stephanie Vozza • Photography by Jeff Adkins
money definitely grows in the Garden State. New Jersey’s proximity to the financial markets of New York City, highly competitive corporate real estate rates and a deep pool of financial services and information technology talent have made the state attractive for both headquarters and support operations for the financial services industry.
LE aDE rS In fInancIaL SE rvIcES
Globally known industry leaders in the banking and financial services sector, including Prudential Financial, Dun & Bradstreet and Chubb Group of Insurance Cos., are among more than 12,300 financial services operations in New Jersey. Additionally, a variety of financial services powerhouses such as Merrill Lynch, Goldman Sachs and Bank of America have a major presence in the state, many of them in the financial services hub of Jersey City, known as “Wall Street West.”
Supporting the financial services sector is an extensive and highly advanced high-speed fiber-optic network that is helping to draw back-office operations and data centers that serve the industry.
‘E xcEP tIonaL taLE nt’
Another of the state’s most valuable resources is its people. New Jersey offers a deep talent pool from which companies eagerly draw. More than 257,000 people are employed in financial activities in the state, making up 6.6 percent of New Jersey’s total workforce in 2011.
Chubb Group opened a New Jersey branch in Short Hills in 1968, and moved its world headquarters to Warren, N.J., in 1982. The company is the 11th-largest property and casualty insurance provider in the country, with a reported $50.9 billion in assets and $13.6 billion in annual revenues.
“Exceptional talent is key to Chubb,” says Bev Luehs, senior
oN the m o N ey: NJ’s F i N a NC ial servi C es depth
12,300 f inancial services operations in the state
257,000 f inance-related employment in n ew Jersey in 2011
$97,000 a verage annual financial services industry wage in n ew Jersey (2009)
15
Percentage of financial services workers in the state in Jersey c ity, often called wall Street west Source: NJ Department of Labor and Workforce Development
w all s treet w est
located in downtown Jersey c ity, e xchange Place is often referred to as “Wall Street West.” the neighborhood earned the nickname in the early 2000s, thanks to the many financial services companies that set up shop in the area. this major business district is home to Goldman Sachs and Merrill lynch, as well as the harborside Financial center, which includes Fidelity investments, Morgan Stanley and e*trade Financial c orp.
vice president and global administrative services manager. “We hire well-educated people with financial savvy and a broad array of skills. New Jersey is in close proximity to some of our nation’s top schools, and we have been able to recruit some of the best people here. Bringing in the best people means we can provide the best service to customers, solid returns to shareholders and a terrific place to work to employees.”
Luehs says New Jersey has much to offer from a recruitment perspective.
“There is a lot here to whet the appetite,” she says. “Many of our employees live here, making for an easy commute. It’s a nice place to live, work and raise a family.”
QuaLIty of LIfE mattE rS
The livability factor drew Fidelity Investments. The company, which came to the region in the early 1980s and expanded in Jersey City in 2002, opened a 185,000-square-foot regional facility in Jersey City’s Newport Centre development in June 2012. The $30 million project will house 600 Fidelity workers.
Maggie Serravalli, Fidelity executive vice president, says a number of factors prompted the opening of the location.
“[We look at] how the firm’s real estate portfolio can support our business strategy in order to best serve clients while providing a positive working environment for our associates,” she says.
“In addition to being a financial services hub with access to worldclass talent, the Newport Centre site provides access to amenities such as public transportation, shopping, dining and hotels, as
well as access to health, wellness and recreational facilities. The local business climate and Jersey City’s focus on economic revitalization also made it an attractive choice, and we’re appreciative of the support we’ve received from state and local officials.”
LocaL InvES tmE nt, bE nE fIt S
In addition to providing services to consumer and corporate customers, members of the financial industry invest in the community.
“Our employees are involved in a variety of causes here,” Luehs says. “Through business units and employee resource groups, they organize and help out at local events. And several of our senior executives sit on the boards of charitable organizations, such as Freedom House and Junior Achievement of New Jersey.”
In addition to being where the money is, New Jersey offers a prime location. In proximity to New York City’s financial markets, the state’s highly competitive corporate real estate rates and easy access to transportation infrastructure make it a lower-cost alternative for both headquarters and backoffice operations.
“Being located between New York and Philadelphia is a perk,” says John McWeeney, president of the New Jersey Bankers Association. “The transportation system is great, and there are major airports and shipping ports. New Jersey is a hub of commercial and industrial activity, and that draws banks [and financial institutions] that can provide services.”
clockwise from top left: the katyń Memorial at Jersey city’s e xchange Place; Jersey city has become a hub for financial services operations; New Jersey’s thriving business climate
Green means Grow
garden s tate cultivates clean-energy economy
Story by Kathryn Royster
Photography by Jeff Adkins
new Jersey has a growing and diverse green-collar economy that employs more than 200,000 workers in areas ranging from renewable energy production to green building construction to green design to environmental remediation.
The state has established itself as a national leader, thanks in part to an economic climate that supports clean-energy companies at every of the energy pipeline.
from IncubatIon ...
New Jersey’s support for clean energy starts with initiatives like the New Jersey Clean Energy Resource Network (NJ CERN), led by the Rutgers EcoComplex, and the New Jersey Meadowlands Commission Business Accelerator.
NJ CERN offers the Clean Energy Innovation Work Group, whose panel of experts evaluates the performance and market viability of new cleanenergy technologies.
“It gives startup companies a way to show that their technology has been verified, so they’ll have a
Fluitec International helps cleanenergy companies be more efficient.
higher likelihood of getting funding,” says Margaret Brennan-Tonetta, Rutgers’ associate vice president for economic development.
Entrepreneurs may find such funding through NJ CERN’s online database, a comprehensive listing of the state’s clean-energy startup resources (a grant from the New Jersey Board of Public Utilities funds regular updates.)
... to ProDuctIon ...
At the production stage, New Jersey boasts innovative clean-energy firms such as Princeton Power Systems (PPS), which manufactures inverters and installs them in comprehensive, PPS-designed solar or diesel power systems.
Current PPS systems are used primarily in commercial applications such as public utilities and small industry. The company is ready to branch into
the residential market, however, with a new solar array that includes battery storage and an electricvehicle charging station.
Darren Hammell, the company’s executive vice president and chief operating officer, sees New Jersey as the ideal location for PPS for several reasons.
“There are a lot of smart professionals here, and there’s a good market for our residential product,” he says. “Combine that with strong government support for solar energy, and there’s a lot to keep us here.”
Fluitec International also has many reasons to do business in New Jersey. With customers in 40 countries, the company chose Jersey City for the area’s multilingual workforce and its easy access to international travel.
The Garden State has been an innovator in renewables including wind power. Jersey-Atlantic Wind Farm, which began operating in 2005 in
A Princeton Power Systems employee tests a new containerized energy Storage System (eSS) at the company’s headquarters in l awrenceville. the Army is utilizing the 20-foot eSS to provide backup power and energy resources at Fort Bliss in texas.
Atlantic City, was the first coastal wind farm in the United States. The federal government has included a 550-mile area off the New Jersey coast as one of four areas available for lease to wind energy developers by the end of 2012.
Fluitec specializes in helping clean-energy facilities operate more efficiently and reduce waste. To that end, the company provides consulting services and data analysis as well as testing and filtration for industrial fluids.
Additionally, Fluitec is growing by approximately 70 percent annually, thanks in part to a grant from the state’s Clean Energy Manufacturing Fund (CEMF).
“With the state making such a sizable investment in clean energy, it means there’s a very bright future here for companies like ours,” says Frank Magnotti, Fluitec’s president and CEO.
... to EnD -uSE
Another CEMF grant recipient is Noveda Technologies, which makes full-building monitoring systems that provide real-time, 24-hour energy and water data.
The Noveda system is installed at more than 150 commercial locations, where it’s used primarily to increase operating efficiency and help cut energy costs. The system also has educational applications: Students at Baylor University in Texas are using it to study energy and water usage in campus dorms.
All this would not be possible, says Noveda president and CEO Govi Rao, without New Jersey’s unique green-collar climate.
“It’s thanks to what I like to call the New Jersey business ecosystem,” he says. “You can access markets, access talent and access capital to build a viable and successful business in clean tech. That’s the magic of New Jersey.” clockwise from top left: demand Response inverter at Princeton Power Systems in l awrenceville; An employee demonstrates how to use a fluid monitor test kit at Fluitec international in Jersey city; the Rutgers eco c omplex in Bordentown assists innovative cleanenergy and environmental companies.
w hat’s o nline
Learn more about n ew Jersey’s clean-energy industry and the companies it comprises at businessclimate. com/new-jersey.
Transportation & Logistics
a ccess to the world
transportation and logistics systems give New Jersey a global reach
Story by Gary Wollenhaupt • Photography by Jeff Adkins
when Wakefern Food Corp. searched for a site for a new food distribution warehouse, company officials looked no farther than Newark, where the retail and wholesale grocery cooperative is building a $65 million food warehouse in a redevelopment project on the site of the Newark Farmers Market.
The 180,000-square-foot, temperature-controlled distribution facility will serve ShopRite and PriceRite stores
in the Northeast. The new distribution center is managed by Forem Facility Management for Wakefern Food Corp.
“The facility is going to be a refrigerated warehouse, incorporating many green capabilities, including solar panels on the roof and machinery operated by hydrogen fuel cells,” says David Forem, project coordinator for Newark Farmers Market. “In the first year alone, we are going to create 140 jobs
and the next years to come we are going to create an additional 250-plus jobs.”
GLobaL connEctIonS
Wakefern’s new distribution facility will be one of thousands already in New Jersey that take advantage of a logistics infrastructure that literally connects the state to the world. The state is home to 585 million square feet of warehouse space connected to 38,000 miles of
Newark liberty international Airport was the 22nd-busiest airport in the world in 2011.
New Jersey t ra N sportatio N F a C ts
38,000 Interstate and highway miles
812,000 tons of cargo handled at n ewark Liberty International a irport in 2011
3 r ank of Port of n ew york/ n ew Jersey for container volume among n orth a merican ports in 2011.
interstates and highways, over which more than 500,000 trucks move each day. These routes connect to three major port facilities that rank at the top in moving motor vehicle and containerized shipments. Goods moving by sea can travel on Class I rail connections and trucks via a network of major interstates.
Several large corporations have major distribution operations in the state including hhgregg, Toys “R” Us, Home Depot and Coca Cola Enterprises.
The Port Authority of New York and New Jersey is spending $10 billion on infrastructure improvements that will benefit cargo movement in the region.
“For businesses looking for transportation for cargo and passengers and access to extraordinarily educated people, the Port Authority is the leading transportation and economic engine of the region,” says Bill Baroni, deputy executive director.
Bulk and break bulk cargo moves through the ports operated by the South Jersey Port Corp. in Camden including wood, steel and a recent record-setting shipment of cocoa beans. The port uses rail and highway connections to move goods throughout the country, and is investing in new and upgraded infrastructure. The new Paulsboro Marine Terminal is scheduled to open in 2013.
“We try to give private industry and ourselves in the public sector a platform to create jobs and business opportunities that are related to international trade and waterborne commerce,” says Kevin Castagnola, executive director and CEO.
on tHE movE
The state also boasts major airport facilities, including Newark Liberty International, the 14th-busiest in the U.S. and 22nd-busiest airport in the world in 2011. Newark Liberty offers a full range of domestic and
South Jersey Port c orp. facilities handle a variety of bulk and break bulk cargo.
clockwise from above: Pipes are stacked after being offloaded from a ship at the South Jersey Port c orp. facilities in c amden; Workers unload materials from ships at South Jersey Port c orp. facilities in c amden; An assortment of steel coils are stacked in a transit shed after being unloaded at the South Jersey Port c orp.
international flights, and Federal Express operates a freight terminal at the airport.
Atlantic City International Airport, operated by the South Jersey Transportation Authority, handled more than 1.4 million passengers in 2011. The airport offers direct service to Atlanta, Boston, Chicago, Detroit, Myrtle Beach and several South Florida cities.
More than 40 percent of the U.S. population and $2 trillion in consumer purchasing power lies within one day’s drive of the Garden State.
With a full range of transportation assets and connections to the world market, it’s no surprise that Area Development magazine named New Jersey among the top 10 in the nation for port facilities and logistics locations.
logisti C s asset s
ports
Facilities include the Port Authority of New york/New Jersey, the third-busiest port in North America
air
Newark liberty international and Atlantic city international handle millions of passengers each year
m a J or r ailroads
1,000 miles of rail freight lines with c Sx transportation, Norfolk Southern, c anadian Pacific
warehousi N g & d istributio N
585 million square feet of warehouse and distribution space across the state
l o C atio N
40% of the u.S. population is within an eight-hour drive
m a J or iN terstate h ighways i -76, i -78, i -80, i -95
Technology
Linked In
e ducated workforce, broadband network give New Jersey it strength
Story by M.V. Greene •
It should be no surprise, in a state that launched the career of Thomas Edison, to find a deep and thriving information and telecommunications industry in New Jersey.
by Jeff Adkins
From the legacy established by the legendary Wizard of Menlo Park, New Jersey boasts one of the nation’s highest concentrations of tech workers and more than 31,000 information and communications technology companies, including more than 1,000 firms that offer data processing, hosting and other gateway services.
boon to EmPLoymE nt
Total technology employment in the state totaled more than 313,000 workers in 2010 including 63 percent with a bachelor’s degree or higher.
New Jersey employers’ technology-related disciplines paid more than $31 billion in wages in 2010 – about 18 percent of the wages paid in all industries. Such focus on information and communications technology is transformational throughout the state.
At 48.6 percent of households, New Jersey leads all states in the level of broadband penetration. Broadband access is viewed widely as a bellwether economic asset for growth in commerce and business.
The telecommunications industry has been a significant part of the state’s economy for decades and private-sector investment in broadband has been one of its drivers of economic growth and innovation.
Infra S tructurE InvES tmE nt S
Within the industry, Verizon New Jersey – with about 15,000 workers, one of the state’s largest employers – is part of ongoing, major investments in the communications infrastructure.
The company has invested approximately $4 billion in its telecommunications wireline infrastructure alone over the last five years in addition to key spending in wireless access and fiber optics for broadband and video access.
Supporting the state’s innovation posture are educational assets such as Rutgers University’s School of Communication and Information (SC&I) and the New Jersey Institute of Technology (NJIT).
The SC&I includes some 60 full-time and 100 part-time faculty and 1,800 undergraduate and more than 650 graduate and doctoral students.
At the LAIR Laboratory at Rutgers, researchers work on advances related to digitally storing, organizing and retrieving information.
The NJIT, too, is a noted national research center that has produced more than 130 patents.
LonG HIS tory of InnovatIon
Donald H. Sebastian, Ph.D., NJIT senior vice president for research and economic development, calls the New Jersey technology sector a “pillar” of the state’s economy.
“New Jersey is synonymous with telecommunications as the home to iconic firms like AT&T and RCA that created landline, cellular, optical and broadcast
Photography
communications technologies as well as important software systems that are now synonymous with all aspects of telecom,” Sebastian says.
Sebastian notes that more than a decade ago, NJIT created a College of Computing Sciences, recognizing that computing had evolved to a point where it needed a unique pedagogy at the institution. NJIT seeks to expose its students to opportunities to extend their education into the field including a co-op and intern program that places more than 300 students a year as employees of incubator companies.
“We see clear growth in the need for a new breed of IT professional who is able to understand problems of business and personal life and render useful remedies through IT,” Sebastian says.
l o C atio N : Newark
p reside N t: Joel Bloom
aC ademi C d egree p rograms: 47 bachelor’s, 59 master’s, 19 doctoral
Colleges a N d sC hools: Six (engineering, architecture, science and liberal arts, business and management, honors, and computing sciences)
Fa C ulty: 490 full-time and adjunct faculty; 89 percent hold doctoral degrees, and 98 percent have the highest degree attainable in their field
s tude N t-to-Fa C ulty r atio: 15 to 1 student body: undergraduate enrollment, 6,604; graduate enrollment, 2,954
Costs: undergraduate, $11,756 (full-time, N.J. resident), $23,116 (full-time, non-resident); graduate, $15,052 (full-time, N.J. resident), $21,388 (full-time, non-resident)
Fi N a NC ial a id: $15 million in NJit grants and scholarships awarded in 2009-2010
t e C h N ology r esour C es: Multi-gigabit campus network connects more than 6,500 nodes in classrooms, laboratories, residence halls, faculty and staff offices, the library, student organization offices and others
eN dowme N t: $67.5 million
Source: New Jersey Institute of Technology
New Jersey i N stitute o F te C h N ology
verizon New Jersey’s iconic headquarters, right, in downtown Newark. the company is one of New Jersey’s largest employers.
Stay Here
t ech l au N ch program puts startups with i N vestors, me N tors, busi N ess executives
technologist and venture capitalist Mario c asabona has a message for aspiring entrepreneurs and graduating business and technology majors: Stay in New Jersey.
c asabona is the founder and ceo of techl aunch llc , the state’s first technology accelerator, formed in February 2012 with the New Jersey economic d evelopment Authority.
SEED -S taGE funDInG
techl aunch aims to help would-be technologists and entrepreneurs launch businesses, providing seedstage technology funding, mentoring, business services and exposure to qualified investment capital, including “angel” investors, who take companies under their wings. An electrical engineer with expertise in satellite-based navigation and communications, c asabona has been an entrepreneur
himself. h e holds 12 national and international patents and operates his own venture capital and management firm, c asabona ventures, in kinnelon.
KEEPInG aSPIrant S In n.J.
c asabona says he expects techl aunch will create a positive atmosphere for innovation.
“ t he real value of creating the technology accelerator in New Jersey is to keep them in New Jersey,” he says. “Why go to New york, why go to Philadelphia, why go to the West c oast if we can build something close, very similar and very competitive, with better value in New Jersey?”
techl aunch includes expertise from nearly 50 mentors, many of them also investors and entrepreneurs. A key focus of the program is an event called “d emo
day,” where startups participating in a 12-week business “l aunchPad” boot camp can present their companies at a conference to win support.
InnovatIon StatE
c asabona says New Jersey is well positioned to leverage techl aunch. he calls New Jersey an “innovation state” because of its concentration of techrelated industries.
“We have it all in New Jersey,” c asabona says. “o ne of the objectives of tech l aunch is to provide a specific community and attract all of these it, web technology, social media types who are aspiring entrepreneurs and give them an opportunity to commercialize their ideas and create jobs.”
– M.V. Greene
Education & Workforce Development
Getting the Job Done
s trong state programs provide workforce advantage
Story by Kevin Litwin • Photography by Jeff Adkins
new Jersey’s deep reservoir of worker talent puts it at the head of the class for a work-ready labor pool and underscores its economic development mantra of “highly educated, perfectly located.”
The Garden State has nearly 60 universities, colleges and technical schools. And with 1.7 million college graduates, New Jersey ranks in the top 10 in workforce education and in the top five for quality of education.
The state’s higher education institutions include world-renowned centers of academics and research, Princeton and Rutgers, the latter the state’s largest public university.
New Jersey also typically ranks in the top three for highest dollar investment
per student in the United States. In fact, CNBC ranked the state No. 2 in education on its Top States for Business list in 2011.
cuS tomIzED traInInG
State grants, incentives and workforce training programs are readily available for new and expanding businesses. The state awarded more than $18 million in customized grants from July 2011 through June 2012 to 500 companies for employee training, says Hal Wirths, New Jersey Department of Labor and Workforce Development commissioner. Training was given to 50,000 employees including 10,000 new hires.
“All that customized training gave workforces the skills to keep them employed, make them marketable and
l ear N , work
New Jersey offers a number of incentive and training programs including training grants, on-the-job training programs and apprenticeship programs. For details on the state’s workforce services, go to lwd.dol.state.nj.us/labor.
the Newark campus of Rutgers, the State university of New Jersey. Rutgers’ campuses in New Brunswick, Newark and c amden have total enrollment of 58,000 students from all 50 states and 125 foreign countries. the university is home to 180 research centers.
New
Jersey e du C atio N al a ttai N me N t
help their employers maintain a competitive edge,” Wirths says.
Job S 4JE rSE y.com
Also assisting the overall workforce effort is a new Jobs4Jersey.com website, established by the state to provide job seekers and employers with a single concentrated search engine.
“A total of 100,000 people floated their resumes through the site during the summer of 2012, and employers posted a weekly average of 121,000 jobs available in New Jersey,” Wirths says. “That number increases to about 284,000 total jobs when you include available employment opportunities within a 50-mile radius of the state.”
Wirths says by clicking OnRamp within the Jobs4Jersey.com site, job seekers can upload and create detailed resumes that will be posted for potential employers. OnRamp uses artificial intelligence to match job seekers with employers based on skills, not just job titles. Job seekers are alerted to opportunities via email, and can update their resumes or create several different resumes that highlight various skills for different jobs. OnRamp is being opened up to the state’s employers as well,
allowing them to use the same dynamic search capabilities to upload their talent needs and find workers. New Jersey has been garnering national attention for the site; the Jobs4Jersey.com service is free.
taLE nt nE tworKS
The state also implemented a Talent Networks program that identified six key industry sectors that account for more than 50 percent of all jobs in New Jersey and pay 67 percent of all wages. The six industries are advanced manufacturing, financial services, health care, life sciences, technology and entrepreneurship, and transportation, logistics and distribution.
“The best way to develop our workforce, and to simultaneously boost our state economy, is to train people for the jobs in those particularly successful industry sectors,” Wirths says. “Talent Networks bring together partners from the business community, workforce development and education, and establishes networking groups. Those groups provide meaningful input to education professionals and training providers on the very courses that will specifically train individuals for these six growing fields.”
Students sit in front of old queen’s, the original building at queen’s c ollege, which is now known as Rutgers university.
Bloomfield c ollege
c aldwell c ollege
c entenary c ollege
c ollege of Saint elizabeth
drew university
Fairleigh dickinson universityc ollege at Florham
Fairleigh dickinson universityMetropolitan c ampus
Felician c ollege
kean university
Monmouth university
Montclair State university
New Jersey city university
New Jersey institute of technology
Princeton university
Ramapo c ollege of New Jersey
Rider university
Rowan university
Saint Peter’s c ollege
Seton hall university
Stevens university of technology the c ollege of New Jersey the Richard Stockton c ollege of New Jersey
thomas edison State c ollege
university of Medicine & dentistry of New Jersey
Georgian c ourt university
William Paterson university of New Jersey p ubli C a N d p rivate Four-y ear Colleges a N d uN iversities i N New Jersey:
Rutgers, the State university of New Jersey
New Jersey’s roster of colleges and universities keep the state stocked with a skilled and knowledgeable workforce.
On the beach in the fabled seaside resort of Cape May, which celebrated its 155th birthday in 2012
Livability
High in c ontrast
New Jersey’s diversity creates rich cultural, arts, outdoor experience
Story by Kevin Litwin
Adkins
the Garden State is in full blossom with possibilities, from its cosmopolitan urban centers to historic towns to revitalized oceanfront communities.
“We believe quality of life is a major asset to living and working in New Jersey,” says Tracye McDaniel, president and CEO of Choose New Jersey, an organization that promotes growth and investment in the state. “Living in New Jersey provides endless opportunities to take advantage of our strong and diverse cultural centers.”
With a population of more than 8.8 million, New Jersey offers bustling cities and major municipalities, five with populations of more than 100,000, and primary access to the vast New York and Philadelphia metropolitan areas.
It is a state of bright lights and big stars appearing at the resorts and casinos of Atlantic City, but also a state of open spaces and spectacular natural attractions, from its famous beaches to the forests and lakes in the 1.1 million acres that are the Pinelands National Reserve to canoe and kayaking meccas such as the Delaware River and Round Valley Recreation Area in northwestern New Jersey.
amazInG SPacES
Among the more enduring and endearing images of New Jersey are its beaches, comprising 130 miles of coastline in total and 11 historic lighthouses open
Photography by Jeff
to the public. Some of the most famous names of the oceanfront are in New Jersey, places like Ocean Grove, Point Pleasant and Seaside Heights romanticized in countless movies and songs, and revitalized and preserved with planning and care.
At the northern point of the Jersey Shore, the Sandy Hook Unit of Gateway National Recreation Area draws more than 2 million visitors a year to its historic sites, natural areas and ocean and bay beaches. The seven-mile run of oceanfront and bays is one of the state’s many prime bird-watching spots, with more than 300 species of migratory birds.
The 70,000-acre Delaware Water Gap National Recreation Area has 100 miles of scenic hiking trails, including more than 27 miles of the Appalachian Trail, and activities that include kayaking, swimming, fishing and nature watching.
The Boardwalk experience along the beaches of Wildwood includes a two-mile stretch of amusements, waterparks, arcades, games, shops
and restaurants, as well as the largest Ferris wheel on the East Coast. More than 180 free festivals and events are staged in Wildwood each year.
Asbury Park, the storied beach community that launched the career of Bruce Springsteen, has undergone a major transformation from the boardwalk to the center city that includes adding thousands of square feet of new retail and entertainment attractions to make the community a year-round destination.
Cape May, billed as the oldest resort community in the country, celebrated its 155th birthday in 2012. The entire city of Cape May is a National Historic District, its neighborhoods lined with restored Federal-style townhouses and 600 preserved Victorian buildings. Besides its beaches, Cape May includes the dozens of unique shops and restaurants on the Washington Mall and Cape May State Park, home to Cape May lighthouse, which was built in 1858.
the historic Paramount theatre, located in Asbury Park, has undergone an extensive renovation and can accommodate approximately 1,600 patrons. the theater hosts numerous musical and entertainment acts annually including the Asbury Park c omedy Festival.
In tHE SwInG
Beyond its beaches, New Jersey offers some of the nation’s best golfing opportunities. Pine Valley Golf Club was named the No. 2 course in the nation by Golf Digest magazine. The storied Baltusrol Golf Club courses in Springfield have hosted seven U.S. Open championships.
The Atlantic City Country Club is frequently named on lists of the top courses in the nation open to the public.
aDmIrabLE art
New Jersey showcases world-class art galleries, museums and performance centers. More than 700 different organizations in the state give full measure to every facet of the arts, from dance to music to cultural heritage.
In Newark, the New Jersey Performing Arts Center is a hotbed of performers, symphonies, dance troupes and theater acts of national and international
stature, and is home to the New Jersey State Opera and New Jersey Symphony Orchestra, led by renowned conductor Jacques Lacombe.
A centerpiece of Newark’s cultural nexus is the Newark Museum, the largest museum in the state. Its 80 galleries include permanent collections of African, American, Asian and classical works.
New Jersey’s universities offer more than highquality education – they’re also major centers of art and culture.
At Rutgers, The State University of New Jersey, the Zimmerli Art Museum’s collection numbers 60,000 works and is the third-largest university art collection in the world. Princeton University maintains an art museum and a performance hall that hosts 200 events a year including the renowned Westminster Choir.
worLD of DIScovE ry
New Jersey’s legacy as a center of innovation – it is the state where Thomas Edison launched his most
clockwise from left: historic homes line the streets of c ape May; the Newark Museum is home to 80 galleries and includes permanent collections of African, American, Asian and classical works; A visitor looks at paintings by Joseph Stella at the Newark Museum.
important discoveries – is carried on through its network of science and nature-oriented attractions such as the Liberty Science Center in Jersey City and the Adventure Aquarium in Camden.
The Liberty Science Center, located in the 1,200-acre Liberty National Park, features an array of interactive exhibits such as a pitch-black maze that requires a high sense of touch to navigate, and a cityscape of towers that lets visitors discover what it takes to design and build the world’s tallest skyscrapers. The center also includes the largest Imax Dome Theater in the nation.
Camden’s waterfront includes the Adventure Aquarium, which houses more than 8,500 creatures. With its arts, culture, entertainment and natural attractions, New Jersey offers a world of opportunity and possibility to its residents that is every bit as compelling as the advantages it offers as a place to work, invest and grow.
the Adventure Aquarium in c amden is home to 8,500 creatures.
Garden of Delights
J ust a sampli N g of all that N ew J ersey offers to see a N d experie N ce
tHE borGata
Borgata h otel c asino & Spa in Atlantic city is a 2,000-room casinohotel located at Renaissance Pointe. All rooms feature e gyptian cotton sheets, bathrooms with marble walls and floors, oversize glassenclosed showers, high-speed internet access and three phones. the casino has 3,400 slot machines and 250 table games, and Borgata has 12 restaurants. t here are also 11 retail boutiques, and a spa complete with a salon, fitness center and barbershop.
DEL awarE rIvE r tubInG
d elaware River tubing is a rafting, canoeing, kayaking and tubing service in Frenchtown, in the central portion of New Jersey. the company’s fleet of 100 rafts and 2,000 tubes includes small, medium, large, single tubes, double tubes, triple tubes, and new backrest lazy-boy tubes. All tubing outings include a free barbecue meal. t he company is now in its eighth season.
mInE raLS rESort anD SPa
this upscale getaway in vernon, in northern New Jersey, targets outdoor adventurers and families. t here are 175 overnight accommodations at Minerals Resort and Spa, which include deluxe and luxury guest rooms as well as presidential suites. Guests enjoy mountain views and a golf course, and each room has a fireplace. Also on site are fully furnished one-, two-, three- and four-bedroom condominiums.
wooLvE rton Inn
Woolverton inn is a tranquil bed-and-breakfast in Stockton, in the central part of the state. t he inn, located on 10 park-like acres surrounded by 300 acres of preserved farmland and forest, offers privacy and luxury. t he Woolverton is perched high above the scenic d elaware River, and is close to the fine restaurants, shops and attractions of l ambertville, N.J. e ach day, the Woolverton’s chef prepares an extravagant threecourse country breakfast.
GarDE
n StatE DIScovE ry muSEum
t his attraction in c herry hill, in southern New Jersey, features hands-on exhibits, educational workshops and performances. Garden State d iscovery Museum, founded in 1994, welcomes 150,000 visitors annually. Attractions include a vet & Pet animal health-care pretend clinic, a rock-climbing wall, two-story playhouse, Silver d inner pretend playhouse, Farm Stand with fake fruit and vegetables, and Backstage t heater with a dressing room, costumes and 100 seats.
SIx fL aGS GrE at aDvE nturE anD wILD SafarI
this popular entertainment destination is in Jackson, 30 minutes east of trenton, and is the largest Six Flags amusement park in the world. it features more than 200 rides, as well as concerts, performances and parades, an individual water park and a drive-through wild animal safari. Six Flags encompasses 2,200 acres. – Kevin Litwin
visitors stroll past shops and restaurants and enjoy nightlife in cape may.
Photo by Jeff a dkins
the manhattan skyline as seen from Jersey city
Photo by Jeff a dkins
a family visits the Ellis Island Immigration museum, which is part of the Statue of Liberty national monument.
Photo by brian mccord
a man makes his way down a hall at Princeton university, which is the fourth-oldest college in the u.S.
Photo by brian mccord
eco N omic profile
b usi N ess s N apshot
New Jersey has a diverse and innovative economy that includes major pharmaceuticals, life sciences, financial services, advanced manufacturing, renewable energy, and transportation and logistics sectors. Twenty-one Fortune 500 companies are headquartered in the state, which also has operations for more than 1,100 multinational companies representing 40 nations. The state ranks seventh in the U.S. for foreign direct investment jobs. New Jersey had a Gross Domestic Product of $426.7 billion and exported more than $38 billion in goods in 2011.
Jersey City: 247,597
Paterson: 146,199
2011: 8,821,155 2000: 8,414,350 Change: 4.8%
Housing Units (2010): 3,176,069
Change From 2000: 6%
l abor force (2011)
4,497,900
c ivilian l abor force
3,874,600 Nonagricultural e mployment
$50,781
p er c apita p ersonal i ncome
$69,811
m edian h ousehold i ncome (2010)
ma Jor p opulatio N ce Nters (2010)
Elizabeth: 124,969
Edison: 99,967
Wodbridge: 99,585
Lakewood: 92,843
Toms River: 91,239
Hamilton: 88,468
Trenton: 84,913
Clifton: 84,136
Camden: 77,344
ma Jor iNDustry sectors (2011)
Manufacturing: 6% Financial Activities: 5%
Other Services: 4.1%
Construction: 3.3%
Information: 2%
h ousiNG market
Median Value for Home or Condo (2009)
Newark: $288,500
Jersey City: $361,000
Patterson: $316,000
Elizabeth: $329,300
Edison: $366,300
New Jersey: $348,300
traNsportatio N
& Hospitality: 9%
For more in-depth demographic, statistical and community information on the state of New Jersey, go to businessclimate.com/new-jersey and click on “Facts & Stats.” p opulatio N
Commercial Service Airports: Atlantic City Airport www.acairport.com
Newark: 278,154
Bergen County
Economic Development Corporation
www.co.bergen.nj.us/bcedc
Bio New Jersey www.bionj.org
Brick City Development Corporation www.bcdcnewark.org
Burlington County Bridge Commission www.co.burlington.nj.us
Choose New Jersey www.choosenj.com
Cumberland County www.co.cumberland.nj.us HealthCare Institute of New Jersey www.hinj.org
Lakewood Development Corporation www.lakewoodnj.gov/department/uez
Mercer County Office of Economic Development www.mercercounty.org
Monmouth County Economic and Workforce Development www.visitmonmouth.com
New Jersey Chamber of Commerce www.njchamber.com New Jersey
Rutgers-New Jersey Clean Energy Resource Network www.njcern.rutgers.edu
South Jersey Port Corporation www.southjerseyport.com
The Port Authority of New York & New Jersey www.panynj.gov
The Provident Bank www.providentnj.com Thomas
Newark Liberty Airport www.panynj.gov/airports/ newark-liberty.html
hi Ghways
More than 38,000 miles of interstates and highways, including Interstates 76, 78, 80, 95 and the Garden State Parkway
r ailroaD
The state includes 1,000 miles of rail freight lines served by short line, regional and national railroads.
water Port Authority of New York/ New Jersey www.panynj.gov/
South Jersey Port Corp. www.southjerseyport.com
e Ducatio Nal attaiNme Nt (2008) 87.4%
h igh s chool Graduate or h igher 34.4%
b achelor’s Degree or h igher
Sources: www.city-data.com quickfacts.census.gov www.bea.gov choosenj.com
atlaNtic couNty
Population: 272,417 Labor Force: 139,900
Per Capita Income: $27,200
l argest employment s ectors: Leisure & Hospitality: 37%
Trade, Transportation & Utilities: 15%
Education & Health Services: 12% College Degree: 24%
b er Ge N couNty
Population: 900,766
Labor Force: 483,900
Per Capita Income: $42,000
l argest employment s ectors:
Trade, Transportation & Utilities: 24%;
Education & Health Services: 17%
Professional & Business Services: 17%
College Degree: 45%
burliNGto N couNty
Population: 445,774
Labor Force: 244,200
Per Capita Income: $35,000
l argest employment s ectors: Trade, Transportation & Utilities: 23%
Professional & Business Services: 15%
Education & Health Services: 13%
College Degree: 34%
camDe N couNty
Population: 515,879
Labor Force: 270,200
Per Capita Income: $29,500
l argest employment s ectors: Trade, Transportation & Utilities: 20%
Education & Health Services: 19%
Professional & Business Services: 15%
College Degree: 28%
cape may couNty
Population: 95,948
Labor Force: 59,500
Per Capita Income: $33,600
l argest employment s ectors: Leisure & Hospitality: 24%
Trade, Transportation & Utilities: 19%
Education & Health Services: 11%
College Degree: 27.1%
cumberlaND couNty
Population: 158,259
Labor Force: 72,700
Per Capita Income: $21,900
l argest employment s ectors: Trade, Transportation & Utilities: 21%
Education & Health Services: 15%
Manufacturing 15%
College Degree: 14%
e ssex couNty
Population: 769,156
Labor Force: 372,300
Per Capita Income: $31,500
l argest employment s ectors: Trade, Transportation & Utilities: 21%
Education & Health Services: 16%
Professional & Business Services: 14%
College Degree: 32%
Gloucester couNty
Population: 290,728
Labor Force: 159,900
Per Capita Income: $31,200
l argest employment s ectors:
Trade, Transportation & Utilities: 27%
Education & Health Services: 12%;
Professional & Business Services: 10% College Degree: 27.4%
huD so N couNty
Population: 608,975
Labor Force: 315,400
Per Capita Income: $31,000
l argest employment s ectors:
Trade, Transportation & Utilities: 24%
Financial Activities: 17%
Education & Health Services: 12%
College Degree: 35.4%
huNter D o N couNty
Population: 130,262
Labor Force: 71,900
Per Capita Income: $48,500
l argest employment s ectors: Trade, Transportation & Utilities: 18%
Professional & Business Services: 15%
Education & Health Services: 13%;
College Degree: 48%
mercer couNty
Population: 366,513
Labor Force: 209,000
Per Capita Income: $36,000
l argest employment s ectors:
Education & Health Services: 18%
Ad Index
6 Bergen County eC onomi C Development Corporation
27 Bio n ew Jersey
C2 Bri C k City Development Corporation
64 Burlington County Bri D ge Commission
1 Choose n ew Jersey
2 Cum B erlan D County
24 h ealthCare i nstitute of n ew Jersey
16 l akewoo D Development Corporation
18 m er C er County o ffi C e of eC onomi C Development
4 m onmouth County eC onomi C an D workfor C e Development
55 n ew Jersey Cham B er of Commer C e
40 n ew Jersey n atural g as
20 n J m i nsuran C e Company –n ew Jersey Business & i n D ustry a sso C iation
10 pn C Bank n ational a sso C iation
C4 pseg
C3 r utgers r esear C h eC onomi C Development
33 r utgers – n ew Jersey Clean e nergy r esour C e n etwork
50 s outh Jersey p ort Corporation
44 t he p ort authority of n ew york & n ew Jersey
64 t he p rovi D ent Bank
56 t homas eD ison s tate
Professional & Business Services: 15%
Trade, Transportation & Utilities: 13%
College Degree: 38%
miDDlesex couNty
Population: 809,858
Labor Force: 438,300
Per Capita Income: $37,300
l argest employment s ectors:
Trade, Transportation & Utilities: 25%
Professional & Business Services: 11%
Education & Health Services: 10%; College Degree: 38.9%
m o Nmouth couNty
Population: 630,380
Labor Force: 330,100
Per Capita Income: $41,000
l argest employment s ectors:
Trade, Transportation & Utilities: 21%
Education & Health Services: 17%
Professional & Business Services: 13%
College Degree: 39.6%
m orris couNty
Population: 489,112
Labor Force: 275,000
Per Capita Income: $47,350
l argest employment s ectors:
Professional & Business Services: 21%
Trade, Transportation & Utilities: 19%
Education & Health Services: 13% College Degree: 49%
o ceaN couNty
Population: 577,671
Labor Force: 267,200
Per Capita Income: $29,900
l argest employment s ectors: Trade, Transportation & Utilities: 22%
Education & Health Services: 22%
Leisure & Hospitality: 12%
College Degree: 24.5%
passaic couNty
Population: 501,226
Labor Force: 247,100
Per Capita Income: $26,100
l argest employment s ectors: Trade, Transportation & Utilities: 22%
Education & Health Services: 15%
Professional & Business Services: 15%
College Degree: 25.4%
salem couNty
Population: 66,423
Labor Force: 31,600
Per Capita Income: $27,300
l argest employment s ectors: Trade, Transportation & Utilities: 24%
Education & Health Services: 14%
Manufacturing: 13%
College Degree: 18.5%
s omerset couNty
Population: 323,444
Labor Force: 181,200
Per Capita Income: $47,100
l argest employment s ectors: Professional & Business Services: 22%
Trade, Transportation & Utilities: 20%
Education & Health Services: 12%
College Degree: 50%
sussex couNty
Population: 150,908
Labor Force: 84.200
Per Capita Income: $36,000
l argest employment s ectors: Trade, Transportation & Utilities: 18%
Education & Health Services: 17%
Professional & Business Services: 12%
Leisure & Hospitality: 12%
College Degree: 31.6%
uNio N couNty
Population: 529,886
Labor Force: 277,200
Per Capita Income: $34,100
l argest employment s ectors: Trade, Transportation & Utilities: 23%
Professional & Business Services: 16%
Education & Health Services: 13%
College Degree: 31.6%
warre N couNty
Population: 108,692
Labor Force: 60,100
Per Capita Income: $33,080
l argest employment s ectors: Trade, Transportation & Utilities: 22%
Education & Health Services: 17%
Manufacturing: 15%
College Degree: 29%
Excalibur, the IBM Blue Gene P® supercomputer Rutgers acquired in 2012. At left is Michael J. Pazzani, vice president for research and economic development, with (right) Manish Parashar, professor of computer science.
Rutgers offers numerous top-quality graduate programs and continuous education including New Jersey’s only statewide Master of Business and Science program, a trend-setting combined MBA and MS.
MBS: mbs.rutgers.edu
Continuous education: continuingstudies.rutgers.edu
Rutgers graduates more than 12,000 men and woman annually from 270 degree programs, many of them among the nation’s best, the majority intending to build a career in New Jersey.
Recruiters: careerservices/rutgers.edu
Find out how to access New Jersey’s most extensive and diversified laboratory network and facilities, funded with $400 million annually of research in fields such as biomaterials, business, energy storage, materials engineering, nanotech, pharmacy and wireless networking.
Research Alliances: ora.rutgers.edu
Technology Licensing: otc.rutgers.edu
Rutgers-New Brunswick is our flagship campus; the Newark and Camden campuses are home to a wide range of academic programs.
N.J. Small Business Development Center at Newark: business.rutgers.edu/rnsbdc
N.J. Small Business Development Center at Camden: rsbdc.org/
Easy access for businesses: Our Research Alliances team provides one-stop concierge service to Rutgers. Call 732-445-0320 or send a note to frontdoor@rutgers.edu.
Jersey Roots, Global Reach RUTGERS
The State University of New Jersey rutgers.edu/resource
