Report highlights key growth, including 10,100 new and retained jobs in New Jersey, and over $1 billion in capital investments generated
(Newark, New Jersey) – Choose New Jersey today announced the release of the 2019 Annual Report, which marks 2019 as Choose New Jersey’s most successful year to date. The Annual Report details the results of Choose New Jersey’s efforts at engaging and attracting businesses to the Garden State.
“As Choose New Jersey nears the tenth anniversary of its founding, I am proud to report that 2019 was our strongest year yet, resulting in unprecedented growth in jobs, investments, and companies relocating to our state,” said Jose Lozano, President & CEO, Choose New Jersey. “This year we moved closer to achieving our full potential, with renewed energy towards international outreach and spreading the unique value proposition of New Jersey far and wide. For every dollar contributed to Choose New Jersey this year, we invested $300 back into New Jersey’s economy thanks to our supporters from the State’s business, labor, academic and civic leadership organizations.”
Choose New Jersey successfully attracted 58 companies to commit to relocate or expand in the Garden State, delivering 10,103 new and retained jobs, and generating over $1 billion in capital investments. This reflects a 29% increase over 2018. Business attraction missions contributed significantly to the growth seen over the past two years, with most projects coming from India, Germany, Ireland and Israel. In addition, the Choose New Jersey Europe office became fully operational in 2019, and an office opening in India led to an increase in outreach.
“Choose New Jersey played a pivotal role in attracting and facilitating businesses to come to New Jersey,” said Ralph LaRossa, Chairman of Choose New Jersey, Chief Operating Officer, PSEG. “The success we saw in 2019 is a promising sign for New Jersey’s economic growth, and our members eagerly support Choose New Jersey in attracting the best companies in the world to do business in our great state.”
Governor Murphy led a successful business trip to India in September 2019 which resulted in three Indian companies pledging to expand their operations in New Jersey and add more than 1,200 jobs. Choose New Jersey also led a multi-city business attraction mission across Ireland in July 2019 to increase economic ties between New Jersey and Ireland, formed significant partnerships and raised New Jersey’s profile among key Irish industry leaders.
“Choose New Jersey is advancing economic development across the State through trade shows, events and international business attraction trips,” said Linda Bowden, Choose New Jersey Business Development Committee Chair, Regional President at PNC Bank and Chair of the New Jersey Chamber of Commerce. “Last year marked Choose New Jersey’s most successful year, and we look forward to building upon this momentum as we showcase to national and international companies why New Jersey is such a great place to relocate or expand your business.”
Choose New Jersey’s pipeline to the business community and prospects remains strong, with 426 companies interested in a New Jersey location and another 133 companies in the final stages of the site selection process.
“As Choose New Jersey continues the momentum into 2020, we remain committed to make New Jersey stronger and more prosperous for all,” said Lozano. “I want to thank the New Jersey Economic Development Authority, as well as our Ambassadors, Partners, and Education Advocates for their continued work and belief in growing New Jersey’s economy. Our businesses at home are our strongest advocates, and without their success stories we would not be able to do what we do.”
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.