May 1, 2018

United Hemispheres Magazine

Although it may be the fourth smallest state in the U.S. by area, New Jersey fills its boundaries with a bounty of assets that modern businesses crave. Among other claims to fame, it is home to the highest concentration of engineers and scientists in the world, boasts an optimal Northeast location within easy reach of New York City and Washington, DC, and hosts the largest port on the East Coast, while it maintains that its quality of life remains second to none. (p.3)

The Garden State is in bloom. That’s the message coming out of New Jersey today, as it sees its long-held advantages in location, infrastructure and education align along some of the 21st century’s most critical industries.(p.14)

“New Jersey’s prime location gives companies access to one of the most concentrated and affluent consumer markets in the world,” says New Jersey Secretary of State Tahesha Way. “New Jersey’s location also gives businesses strategic access to the world’s trade, financial and monitoring centers, including New York and Washington, DC, which are easily accessible by car or train ride from anywhere in the state.”(p.14)

A history of immigration has also endowed the state with one of the nation’s most diverse population s and talent pools, which is mirrored too in a diverse economic base that runs the gamut from a large transportation and logistics cluster, to a significant financial service sector, to a burgeoning manufacturing industry. In turn, they support a remarkable variety of major corporations, with the likes of Honeywell International, Johnson & Johnson and the Campbell Soup Company among those that have found continued success in New Jersey. In addition, the state ranked sixth for globalization in the Information Technology and In novation Found at ion’s 2017 New Economy Index report, and is now home to more than 1,100 multinational companies— proof that it’s not only those that were born here t h at appreciate what New Jersey ’s communities have to offer. (p.14-15)

Mean while, the st ate’s largest private employer is the Wakefern Food Corporation, a Keasbey, NJ-based cooperative that began life in 1946 with eight New Jersey-based mom and pop grocery store owners. Today, that number has grown to around 50 who cumulatively own and operate 346 supermarkets throughout the northeastern United States under the ShopRite, The Fresh Grocer, Price Rite Marketplace and Dearborn Market banners, all of which are united by a common mission to help small businesses succeed in a big business world.(p.15)

“When we collectively come together, we have the marketing power, the buying power and the economies of scale that all those businesses bundled into one get,” says Wakefern chairman and CEO Joe Colalillo, whose organization reported retail sales of $16.3 billion in 2017. “But at the same time, we are 49 different businesses focusing on 49 small business issues.”(p.15)

what can choose New Jersey do for you?

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Nikki Ouellette Chief Marketing Officer

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