Manufacturing has been a vibrant contributor to the State’s economy for close to 200 years. In fact, New Jersey was such a dominant force in North America’s industrialization, it often is credited with being a birthplace of the U.S. Industrial Revolution.
Fast forward to today: Nearly 10,000 manufacturers operate in New Jersey – from large pharmaceutical companies to small machine shops. Those companies directly employ close to 250,000 workers and contribute more than $30.9 billion to New Jersey’s GDP. Manufactured goods and products account for nearly 90% of all New Jersey exports.
Chemical, pharmaceutical, petroleum and food manufacturing have been the State’s traditional strongholds. However, today, our companies make everything from computers to life-saving drugs to everything in between. You name it, we make it here in New Jersey.
Global giants like Novartis, Campbell Soup Company, BASF, Honeywell, Konica Minolta, Panasonic, the Pinnacle Food Group and Unilever all have headquarters in New Jersey.
Industry leaders such as Anheuser-Busch, Benjamin Moore, Bristol-Myers Squibb, Lockheed Martin and Mondelez have manufacturing operations here. They produce products as diverse as food and beverage, health and beauty aids, building materials, flavors and fragrances, and high-tech defense components.
New Jersey manufacturers have a competitive edge over companies outside the region: access to one of the most concentrated and affluent consumer markets in the world.
In a single day’s drive, producers located here can reach nearly 40% of the U.S. population. A distribution center in central New Jersey can serve more than 22 million consumers, who collectively have nearly $800 billion in disposable income and live within a 2-hour drive. The same manufacturers are in close proximity to thousands of retailers and suppliers.
Another great New Jersey asset is our strategic location and world-class transportation infrastructure: It creates a natural fit for the manufacturing industry. Situated in the heart of the U.S. Northeast Corridor, the State’s manufacturers benefit from access to the world’s trade and financial centers, including New York and Washington D.C. Plus, New Jersey provides entree to national and international markets worldwide via road, rail, air and sea is unsurpassed.
The State has unrivaled road and rail networks, including 2,800 miles of interstates and highways, and the highest railroad density in the U.S. Newark Liberty International Airport and nearby airports offer daily non-stop flights to 110 U.S. cities and 130 international destinations.
New Jersey is home to the Port of New York and New Jersey, the 3rd busiest seaport in North America and the largest maritime cargo center on the East Coast. The Port and cargo center make it easy to import and export goods and products. 5 Foreign Trade Zones (FTZs), including one of the largest contiguous FTZs in the U.S., help manufacturers control the costs of importing and exporting their goods.
New Jersey is attractive to companies in the U.S. and abroad that are looking for talented prospective employees to add to their companies. The draw? The State’s “brain trust.” We have one of the most educated and skilled employee forces in the nation.
Fueled by a workforce where nearly 37% of the population has earned a Bachelor’s degree or higher, roughly 2/3 of all manufacturing employment in the State is classified as advanced.
In 2016, New Jersey’s largest advanced manufacturing cluster – chemicals – employed roughly 44,000 people, ranking 5th in the U.S. Advanced manufacturers contributed nearly $30.9 billion to the State’s GDP in 2015 – about 6.1%.
With the highest concentration of scientists and engineers per square mile in the world, 4 advanced manufacturing sectors are prominent in New Jersey: Chemicals, Machinery, Computer/Electronic Products and Food. Producers such as Pinnacle Foods and Unilever not only have headquarters in the State, their R&D and innovation centers are also here. Other well-known employers that have chosen to settle in New Jersey include global leaders such as Lockheed Martin, Siemens, Johnson & Johnson, Bayer and Merck.
New Jersey’s top utility companies have been investing billions of dollars in infrastructure improvements. The reasons: Making the State’s utilities more resilient, keeping them at the forefront of innovation and ensuring that they remain the backbone of manufacturing in our Garden State.
Two examples of how our utilities are making positive change: PSE&G, the State’s largest public utility, is investing more than $2.6 billion to make our electric and gas systems the standard for resilience. Suez North America is piloting state-of-the-art software to ensure reliable water service. You can rely on New Jersey’s utility companies to continue building the infrastructure that manufacturers need to grow.
To meet the State’s goal of using 30% of electricity from renewable sources by 2020 and ultimately reduce costs for manufacturers, several clean energy projects are underway or on the horizon. These include wind farms and installed solar panels. New Jersey is currently ranked #5 in the nation for solar power capacity.
Manufacturers in New Jersey also have access to one of the most extensive broadband networks in the U.S., with speeds among the fastest in the nation.
New Jersey supports its manufacturers with several industry-specific programs to help them grow, including:
Manufacturing Equipment and Employment Investment Tax Credit: New Jersey manufacturers may qualify for a tax credit for the acquisition of equipment and/or for the addition of employees due to equipment investment.
New Jersey Manufacturing Extension Program (NJMEP) offers technical and management solutions to assist manufacturing companies become more productive, profitable and globally competitive.
Loans, Loan Guarantees, Bond Financing and More: The New Jersey Economic Development Authority (NJEDA) offers a wide range of programs that provide access to capital to meet the specialized needs of manufacturing companies, both large and small.
Unlike many U.S. states, New Jersey places no personal property tax on machinery, equipment or inventory.
New Jersey also offers qualified manufacturers a number of attractive incentives and workforce development programs.
Companies may qualify for fully-transferable tax credits by creating as few as 25 full-time jobs (10 for new technology startups).Learn More
Competitively-awarded training funds help companies develop industry-specific solutions to workforce challenges.Learn More
The Networks partner with businesses to develop workforce training, and connect companies with trained employees to address their workforce needs.Learn More
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