In 2020, New Jersey saw 1,455 new and retained jobs, and generated over
$607 million in capital investments
(Newark, New Jersey) – Choose New Jersey today released its 2020 Annual Report, highlighting the 10-year anniversary of the economic development organization. Despite the unprecedented challenges that the pandemic presented to the global economy, Choose New Jersey’s work resulted in steady progress over the last year, including assisting 33 companies in relocating or expanding to New Jersey, 1,455 new and retained jobs and generating over $607 million in capital investments. For every dollar contributed to Choose New Jersey in 2020, the organization invested nearly $200 back into New Jersey’s economy. This growth builds upon Choose New Jersey’s success in strengthening New Jersey’s economy over the last decade by generating over 19,000 new and retained jobs, assisting over 300 companies and generating $6.2 billion in capital investment.
“Choose New Jersey was founded during a recession 10 years ago, and today we are in the midst of another economic crisis. Over the last 10 years, we have seen incredible growth, and I have no doubt that New Jersey will rebuild from this pandemic stronger than ever,” said Jose Lozano, President & CEO of Choose New Jersey. “I want to thank Governor Murphy, the New Jersey Economic Development Authority, as well as all of our Ambassadors, Partners, and Education Advocates for their support. New Jersey is the best place to do business, and we are so excited to kick off a new year sharing New Jersey’s story of innovation with the world.”
Choose New Jersey is dedicated to helping New Jersey recover from the COVID-19 pandemic. Last year, Lozano served as co-chair on Governor Phil Murphy’s Restart and Recovery Council, which brought together over 200 leaders from various industries, communities and higher education to advise elected officials on how COVID-19 is impacting New Jersey’s economy. Choose New Jersey also led a “Mask Up NJ” social media campaign to encourage residents to utilize proper safety precautions.
“Over the last 10 years, Choose New Jersey has helped showcase everything New Jersey has to offer, attracting new businesses and creating good-paying jobs,” said Ralph LaRossa, chairman of Choose New Jersey and Chief Operating Officer of PSEG. “While 2020 was a challenging year, Choose New Jersey still saw promising growth, and we look forward to doing everything we can to help strengthen New Jersey’s economy in the years ahead.”
The report highlights Choose New Jersey’s many noteworthy accomplishments over the past year, including:
- In February 2020, Choose New Jersey led its second business mission trip to Israel, joined by a delegation of New Jersey’s top business and academic leaders. This trip built upon the progress Governor Murphy made on the 2018 mission, deepening relationships with Israeli executives and entrepreneurs about how New Jersey is a great place to do business
- Choose New Jersey joined a regional bid with the State of New York for the FIFA World Cup 2026 host city selection process, which would be a major boost to the region if selected
- Choose New Jersey was also awarded an additional $2 million grant allocation from the State of New Jersey to build upon the success of the 2020 State of Innovation Marketing Campaign to promote New Jersey around the world
- Choose New Jersey President and CEO Jose Lozano served as co-chair of New Jersey Restart and Recovery Advisory Council
- In October 2020, Choose New Jersey and the New Jersey Innovation Institute hosted the virtual premiere of BioCentriq, a new, cutting-edge cell and gene therapy contract development and manufacturing organization (CDMO) located on the NJIT campus in Newark
“Choose New Jersey has played a vital role in advancing New Jersey’s economic development through various trade shows, virtual events and international business attraction trips,” said Linda Bowden, Choose New Jersey Business Development Committee Chair and retiring Regional President at PNC Bank. “Over the last decade, we have seen substantial growth that has helped put New Jersey on the international stage. Choose New Jersey is a true advocate and champion for our state, and I look forward to seeing how the organization will continue to build upon its incredible progress.”
“Choose New Jersey is fiercely dedicated to showcasing our ongoing legacy as the State of Innovation far and wide,” said Dan Lynch, Choose New Jersey Marketing Committee Chair and Vice President, Corporate Partnerships at the New York Giants. “We have seen that economic development is more crucial now than ever before, and the organization impressively pivoted during this difficult time to help generate interest and foster economic growth in New Jersey.”
“As Choose New Jersey celebrates its 10-year anniversary, we are determined in our commitment to help New Jersey rebuild and recover from this unprecedented health and economic crisis. We are already seeing positive signs of relocation and expansion activity, and global interest in New Jersey has picked up during the pandemic as companies learn more about everything New Jersey has to offer,” Lozano added.
To view Choose New Jersey’s 2020 Annual Report, click here.
About Choose New Jersey
Choose New Jersey is a privately funded 501 (c)(3) economic development organization with a mission to stimulate job creation and attract capital investment to New Jersey. Choose New Jersey markets New Jersey both domestically and internationally as the best place to grow a business in the United States. Knowledgeable, experienced staff, supported by a network of State agencies and private partners, provide free, confidential assistance to guide companies in establishing operations in New Jersey. By harnessing the power of business, labor, academic and government leaders, Choose New Jersey enables growth across all sectors of the State’s economy, aspiring to build a stronger and more prosperous New Jersey for all. To learn more, visit www.choosenj.com.