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Comparing New Jersey and Pennsylvania for Business
Where can you Innovate?
Are you a business owner looking to relocate, expand, or successfully establish your startup? Many businesses would consider both New Jersey and Pennsylvania to be attractive options, especially those involved in the manufacturing and life sciences industries. While Pennsylvania is larger in size, New Jersey offers increased global accessibility and a strong, diverse workforce.
In order to truly understand how New Jersey and Pennsylvania might compare in terms of business opportunities, Choose New Jersey has organized the following stats and rankings between the two states for your evaluation.
Statistics and Rankings:
New Jersey & Pennsylvania
Innovation Rankings
| wdt_ID | Ranking | New Jersey | Pennsylvania |
|---|---|---|---|
| 1 | Public Schools¹ | 1 | 7 |
| 2 | Concentration of scientists and engineers² | 1 | 48 |
| 3 | Broadband Access³ | 1 | 11 |
| 4 | NAEP Reading⁴ | 2 | 8 |
| 5 | High School Graduation Rate⁴ | 2 | 20 |
| 6 | Concentration of employees working for FDI companies⁵ | 3 | 22 |
| 7 | Public Transit Usage⁶ | 2 | 12 |
| 8 | NAEP Math⁴ | 4 | 15 |
| 9 | College Readiness⁴ | 5 | 19 |
| 10 | Patents from 1976-2020⁷ | 11 | 10 |
| 11 | Minority Business Ownership⁸ | 6 | 29 |
| 12 | Advanced Credentials⁹ | 7 | 27 |
| 13 | Top Company HQs¹⁰ | 12 | 16 |
General Stats
| wdt_ID | Stat | New Jersey | Pennsylvania |
|---|---|---|---|
| 1 | % of GDP¹¹ | 3% | 3% |
| 2 | Population¹² | 8,882,190 | 10,488,084 |
| 3 | Square Mileage¹³ | 8,722 sq mi. | 58,818 sq mi |
Rankings
| wdt_ID | Stats | New Jersey | Pennsylvania |
|---|---|---|---|
| 11 | Early Childhood Education¹⁴ | 1 | 37 |
| 12 | Raising a Child¹⁵ | 1 | 31 |
| 13 | Public Safety¹⁶ | 4 | 28 |
| 14 | Air and Water Quality¹⁷ | 5 | 42 |
| 15 | Health Care¹⁸ | 6 | 30 |
| 16 | Economic Opportunity¹⁹ | 6 | 42 |
| 17 | Diversity²⁰ | 4 | 20 |
| 18 | Economic Impact of Immigration²¹ | 3 | 22 |
Real Estate
| wdt_ID | Type | New Jersey | Pennsylvania |
|---|---|---|---|
| 1 | Class A Office Space²² | $36.78 (North), $30.44 (Central), $24.67 (South) | $29.77 (Philadelphia) |
| 4 | LAB Space²³ | $22.28 (Statewide) | $28.20 (Philadelphia) |
| 5 | FLEX Space²⁴ | $13.39 (Statewide) | $11.02 (statewide) |
| 6 | Industrial Space²⁵ | $6.77 (North), $7.43 (Central), $6.18 (South) | $5.83 (Philadelphia) |
Sources:
¹Education Week, Quality Counts 2020, ²National Science Foundation: Science & Engineering Indicators 2020, ³Broadband Now 2020, ⁴US News & Work Report: 2020 Pre-K-12 Ranking, ⁵Bureau of Economic Analysis: Activities of US Affiliates of Foreign Multinational Enterprises 2017, ⁶US News & Work Report: 2020 Transportation Rankings, ⁷US Patent & Trademark Office 2020, ⁸US Census 2016 Annual Survey of Entrepreneurs, ⁹Lumina Foundation: A Stronger Nation Report 2020 South NJ Q1 2020, ¹⁰US News & World Report: 2020 Business Enviroment Ranking, ¹¹Bureau of Economic Analysis: GDP by State Q1 2020, ¹²US Census 2019, ¹³enchantedlearning.com: US States Area and Ranking, ¹⁴24/7 Wall Street: States with the Best & Worst Early Education May 2018, ¹⁵Save the Children 2020, ¹⁶US News & World Report: 2020 Public Safety Ranking, ¹⁷US News & World Report: 2020 Air & Water Quality Rankings, ¹⁸US News & World Report: 2020 Health Care, ¹⁹US News & World Report: 2020 Economic Opportunity Rankings, ²⁰WalletHub: Most & Least Diverse States in America September 2019, ²¹WalletHub: Economic Impact of Immigrants by state, ²²Cushman & Wakefield Office Marketbeat Q2 2020 (Q1 2020 South NJ), ²³JLL 2019 Life Sciences Outlook, ²⁴Flex CoStar Analytics August 2020, ²⁵Cushman & Wakefield Marketbeat for Manufacturing Q2 2020 (Q1 2020 South NJ)
Welcome to New Jersey, The State of Innovation
New Jersey’s highly-educated workforce, robust infrastructure, and strategic East Coast location can take your business to the next level. We surpass our competitors in many key areas, including education, talent, diversity and quality of life. What’s more, we offer all the accessibility at a more affordable cost than other major metro areas like New York City, Boston and the San Francisco Bay Area. We invite you to discover all the possibilities of a New Jersey location:
- Hire from the highest concentration of scientists and engineers per square mile in the U.S.
- Reach 40% of the U.S. population within a day’s drive from anywhere in the State
- Find a new home here as the #1 state to raise children with the #1 public school system in the U.S.
- Partner with top higher education institutions including the #1 university in the U.S. for 9 consecutive years — Princeton University
- Feel welcomed within our vibrant multicultural communities. New Jersey is proud of our immigrant history as 4th most diverse state in the nation with a 45% minority population.
- Plug into most connected state in the U.S. with leading broadband access
Major Industries in New Jersey:
Home to 225 foreign company headquarters, New Jersey’s size does not limit its ability to be diverse. Along with being globally-connected, New Jersey possesses substantial economic opportunity, great quality of life, and a sustainable workforce. Companies in the following industries are highly encouraged to learn more about what New Jersey has to offer:
- Financial Services
- Fintech
- Clean Energy
- Logistics
- Advanced Manufacturing
- Film and Digital Media
- Life Sciences
- Cell & Gene Therapy
- Biotechnology
- Technology
- Cybersecurity
- Food Innovation
Choose New Jersey is Here To Help
As a national leader in education, New Jersey breeds a workforce of highly intelligent individuals. The talent coming out of our universities is extremely valuable for businesses – both new and established. At Choose New Jersey, our mission is to help you find opportunities for growth and innovation. Supported by a vast network of State agencies and private partners, we have all the resources you need to ensure a smooth landing. We encourage you to use the multi-step form so we can get to know you better and connect you with one of our highly-experienced team members. Join the State of Innovation and let your success speak for itself.
Fill out the form to learn more about what New Jersey has to offer.
Once the form is complete, you’ll get access to guides for your industry and a representative will contact you with additional details.
WHAT CAN CHOOSE New Jersey DO FOR YOU
Relocation & Expansion Services
We provide customized RFI responses, demographics, detailed market assessments and other complimentary business relocation and expansion services. When your company chooses to grow in New Jersey, we also will help you publicize your good news.
Site Visits
We’ll make your property search seamless, so you find the site that best meets your relocation or expansion needs.
Economic Development Connections
Our public and private partners provide a wide range of services. From higher education research collaboration to regulatory and legal assistance to workforce training, they’ll ensure you have a smooth landing.
Rena Sherman
Research Manager
Ryan Fox
Business Development Officer