News

Mobile Sports Betting Pushes New Jersey to Historic Gambling Figures

Sports Illustrated

When New Jersey Governor Phil Murphy placed the state’s first legal sports bet in early June of 2018, it was doubtful that Murphy (who wagered $20 on Germany to win the World Cup) could have foreseen the incredible success that legalization would bring to the state. Since inception, New Jersey has handled over $7.6 billion in sports gambling and has …

N.J. awards $6 million for offshore wind, clean energy projects

Justin Auciello | Whyy

New Jersey is spending almost $6 million to train workers for jobs in the wind energy industry and to support young companies that deal in clean energy. The New Jersey Economic Development Authority and the state Board of Public Utilities said Wednesday they have approved two funding agreements. In the first, the state will provide $4.5 million to support workforce …

NJEDA approves $22M in film tax breaks for Netflix, Sopranos spin-off and others

Daniel J. Munoz | NJBIZ

The New Jersey Economic Development Authority on Wednesday approved $21.8 million in corporate incentives under its popular film tax credit program, including funds for Netflix’s production of its upcoming zombie movie “Army of the Dead,” being shot in Atlantic City and directed by Zack Snyder. Meanwhile, Rose City Pictures was awarded a $2.7 million tax break for its production of …

N.J. maintains No. 1 ranking in public education — its top talking point when it comes to attracting companies

Tom Bergeron | ROI-NJ

Whether it’s a New Jersey company he’s working with to expand its operations, a U.S.-based business he’s trying to relocate to the state or an international company he’s trying to bring from overseas, Choose New Jersey CEO Jose Lozano said he always starts with the same pitch: education. “It’s the one thing that’s incredibly important to everyone,” Lozano told ROI-NJ. And it’s …

New Jersey EDA to lead state-wide esports initiatives

Cody Luongo | eSports Insider

The New Jersey Economic Development Authority (NJEDA), the state’s principal agency driving economic growth, has unveiled an initiative to curate and support businesses which “accelerate” the esports industry’s development in the Garden State. The strategy will see the NJEDA serve as a catalyst for esports activity in New Jersey, collaborating with stakeholders and local bodies to support efforts which push …

Somerset-Based Whizai Gets $4 Million to Make Business Intelligence Easy for Pharma and Life Sciences

Esther Surden | NJ Tech Weekly

WhizAI (Somerset) has an artificial intelligence (AI) technology for the business end of the pharmaceutical and life-science industries that some observers have described as “magical.” The company recently secured an additional $4 million in funding to further scale its software offering. According to WhizAI cofounder and CEO Rohit Vashisht, he and cofounder Amitabh Patil started the company in 2017 with the …

Newark Paper Co., employee-owned cooperative, has ribbon-cutting in city meant to signify new era

ROI-NJ

It wasn’t just another ribbon-cutting for Newark Mayor Ras Baraka on Wednesday. When Baraka and Invest Newark CEO Bernell Hall gathered for the ceremony for a new warehouse for the Newark Paper Co., they were there to celebrate an employee-owned cooperative that Baraka feels will support economic advancement and leadership of Newark residents. Newark Paper Co., an office supplies and …

Port of NY & NJ Becomes Country’s Second Largest Container Port

New Jersey Business

A new economic impact study released today by the New York Shipping Association reveals that the port industry of New York and New Jersey accounted for nearly $12 billion in tax revenue, supported over 500,000 jobs, and was responsible for $36.1 billion in personal and $99.5 billion in business income in the region in 2019. Supported by nearly $2.9 billion …

132 N.J. companies land on Inc. 5000 fastest-growing companies list

Inc.’s annual ranking of the top American companies is back, and 132 from New Jersey made it onto the list. The New York City-based business magazine released Wednesday the Inc. 5000, an annual ranking of the 5,000 fastest-growing private businesses in the United States. Companies were ranked by their percentage growth in revenue over three years (2016-2019). Of the 132 …

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Carly Wronko
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Tiffany Hess-Bennette
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